Incoterms

It’s World Customs Day. Here’s why it matters.

ICC World Customs Day 2018

Though many of us associate the role with travels abroad, Customs plays a pivotal role in our global economy. We’re celebrating World Customs Day with our four reasons why Customs matters.

ICC Incoterms® rules: The mightiness of three capital letters

Incoterms® rules

Who would have guessed that a collection of three-letter acronyms would have had such an impact on the development of international (and domestic) commercial transactions? We can thank a group of industrialists, financiers and traders whose determination to bring economic prosperity to a post-World War I era eventually led to the founding of the International Chamber of Commerce (ICC). With no global system of rules to govern trade, it was these businessmen who saw the opportunity to create an industry standard that would become known as the Incoterms® rules.

Incoterms® rules turn 80

Incoterms® rules

July marks the 80th anniversary of the flagship International Chamber of Commerce (ICC) Incoterms® rules. We are kick-starting celebrations by bringing you six facts about the indispensable international commercial trade terms:

UN endorses Incoterms 2010, ICC rules for international trade

Incoterms® rules

The latest version of the Incoterms® rules have been officially endorsed by the United Nations Commission on International Trade Law (UNCITRAL), confirming their position as the global standard for international business transactions.