The Incoterms® rules are a set of clauses for the interpretation of customary terms used in contracts for the international trade in goods. In the case of goods shipments, these rules govern the transfer of risk and place of delivery, the transport costs and risk, as well as the obligation to take out transport insurance between the buyer and seller.
Since 1936, the ICC has published the Incoterms® rules and revises them at regular intervals to adapt them to the needs of practice. In cooperation with ICC we have developed an interactive tool - the "Digital Guide" - and offer an innovative service package with digital elements for our clients.
Experience shows that companies often do not find it easy to select the right Incoterms® 2020 rule. Many users are unsure which Incoterms® 2020 rule they should use. However, the choice of an unsuitable Incoterms® 2020 rule entails risks; this is particularly the case because the choice may also have an impact on issues that are not expressly regulated in the Incoterms® 2020 rule. These include, for example, the tax obligations of the contracting parties and the place of jurisdiction. That is why Luther - in cooperation with ICC Germany - supports companies with the new Incoterms® 2020 Digital Guide in finding the right Incoterms® rule for them and applying it correctly. For further questions, Luther offers a tailor-made service portfolio for all legal requirements in the international trade of goods.
>> Click here for a preview of our Incoterms® 2020 Digital Guide <<
