UN endorses Incoterms 2010, ICC rules for international trade
The latest version of the Incoterms® rules, ICC’s standard commercial terms for use in contracts for the sale of goods, 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.
UNCITRAL, whose mandate is to remove legal obstacles for
international trade, applauded ICC for its “valuable” contribution to facilitating
the conduct of global trade by making the Incoterms® 2010 rules simpler and
clearer, reflecting recent developments in international trade.
The endorsement was published after UNCITRAL’s 45th
session in New York, with a decision to “commend the use of Incoterms® 2010, as appropriate, in
international sales transactions”.
“We are thrilled to have the continued support of
UNCITRAL, one of the most renowned and influential organs dealing with international
business,” said Emily O’Connor, Senior Policy Manager of the ICC Commission on
Commercial Law and Practice.
rules, developed by experts and practitioners brought together by ICC, are used
worldwide in international and domestic transactions for the sale of goods.
defined the Incoterms® rules in 1936, and has since revised the rules a number
of times. The latest version came into effect in January 2011.
rules have been recognized by
UNCITRAL since the 1960s as the global standard for the interpretation of the
most common terms in foreign trade. They have had the support of many
international organizations, notably the United Nations, not only through
UNCITRAL but also through the United Nations Economic Commission for Europe (UNECE), whose Centre for
Trade Facilitation and Electronic Business recommends the use of the Incoterms®
information visit the dedicated section of the ICC website at: Incoterms® 2010
For further information, please contact
Senior Policy Manager, Commercial Law and Practice
+33 (0)1 49 53 28 37