Who has the risk during transport – the buyer or seller?

In particular when a trade occurs across national borders and cultures, there is a great difference in how people perceive things. Therefore there has been many disputes in this area when something has gone wrong – no matter who finally obtained the right, both parties have spent unnecessary time, effort and money. These problems can be avoided altogether. The International Chamber of Commerce in Paris (ICC) has developed a set of international terms of delivery – INCOTERMS 2010 – a common ”language” which is recognized worldwide. The schedule here provides an overview of the allocation of risk and cost and the insurance consequences of the various delivery terms.