International Terms 2010 Rules

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The newest set of international trade terms are the Incoterms 2010 rules created by the International Chamber of Commerce which define responsibilities, risks, and costs of the seller and buyer for delivery of goods under sales contracts. The new Incoterms rules take into account the latest developments in commercial practice, and update, add two new rules and deletes four of the former rules. Come January 1, 2011, the updated rules will become effective.

This Incoterms 2010 training understand the major revisions of Incoterms, definitions and responsibilities for insurance and the advantages and disadvantages of each term and the cost associated with it.

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