ForewordBy Rajat Gupta, ICC ChairmanThe global economy has given business broader access than ever before to markets all over the world
Goods are sold in more countries,in large quantities, and in greater variety
But as the volume and complexity of global sales increase, so do possibilities for misunderstandings and costly disputes when sale contracts are not adequately drafted
The Incoterms® rules, the ICC rules on the use of domestic and international trade terms, facilitate the conduct of global trade
Reference to an Incoterms 2025 rule in a sale contract clearly defines the parties' respective obligations and reduces the risk of legal complications
Since the creation of the Incoterms rules by ICC in 1936, this globally accepted contractual standard has been regularly updated to