ForewordBy Rajat Gupta, ICC ChairmanThe global economy has given business broader access than everbefore to markets all over the world
Goods are sold in morecountries,in large quantities, and in greater variety
But as thevolumeandcomplexityofglobalsalesincrease,sodopossibilities for misunderstandings and costly disputes when salecontracts are not adequately drafted
The Incoterms® rules, the ICC rules on the use of domestic andinternational trade terms, facilitate the conduct of global trade
Reference to an Incoterms 2010 rule in a sale contract clearlydefines the parties' respective obligations and reduces the riskof legal complications
Since the creation of the Incoterms rules by ICC in 1936, thisglobally accepted contractual standard has been regularlyupdated to keep pace with the