# Description of delivery terms

*Last updated: 2026-06-16*

> Delivery terms are agreed in writing at the time of contracting and define which party assumes which obligations regarding transport, insurance, customs clearance, and risk.

Delivery terms are agreed in writing at the time of contracting and define which party assumes which obligations regarding transport, insurance, customs clearance, and risk. They establish the point of handover and the moment risk transfers from seller to buyer. The Incoterms rules, developed by the International Chamber of Commerce (ICC), serve as the globally recognised reference framework for expressing such terms in international sales contracts. Industry-specific clauses or bespoke agreements may supplement or deviate from Incoterms. A precise description of delivery terms is a prerequisite for accurate customs declarations, correct customs value determination, and adequate insurance coverage.

**Source:** [https://iccwbo.org/business-solutions/incoterms-rules/](https://iccwbo.org/business-solutions/incoterms-rules/)

## Quick Facts

| Property | Value |
|---|---|
| Term | Description of delivery terms |
| Language | EN |
| Word count | 98 |
| Last updated | 2026-06-16 |
| Source | https://iccwbo.org/business-solutions/incoterms-rules/ |

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