Non-standard aspects of Incoterms® application and ways for further international trade customs unification

Abstract

80 years have passed since the first edition of the well-known trade terms and conditions, the Incoterms, which has at least some relation to any foreign economic activity. The Incoterms has become an integral part of the business practices as commonly accepted and acknowledged code of business customs. It facilitated considerably foreign trade transactions of the most varied forms and contents. However, the Incoterms was not only entrenched in business practices as a backbone of contractual work but has been evolving, with taking the most unexpected forms and found application among carriers and freight forwarders. In the article, the authors present the results of their study of this phenomenon and give suggestions for editorial alterations to Incoterms®2020.