Why do we need Incoterms®?

The Incoterms® (International Commercial Terms) are globally applicable standards. They regulate the delivery conditions for international transactions. They also regulate the rights and obligations of buyers and sellers with regard to the delivery of goods and commodities. In particular, the ICC Incoterms® play an important role in the area of sea freight. EXW, FAC and DDP are familiar terms to anyone involved in the national and international trade in goods. They define the global standard for all international business and are recognised worldwide.