Incoterms are the rules and regulations by which buyers and sellers operate in the international trade arena.

Incoterms rules are often incorporated into contracts of sale for goods worldwide and with Brexit throwing up consfusion of responsibilities regarding customs formalities, your Incoterms are where you should be looking for clarity.

The International Chamber of Commerce (ICC) jhave launched new Incoterms 2020 which come into force January 1st 2020.

All sales contracts should make reference to Incoterms 2020 from this point on. You can find a graph of the rules here.