GlossaryEN1 min readUpdated: Jun 16, 2026

Description of delivery terms

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.

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Last updated: 16 June 2026Published: 19 June 2025

Source: https://iccwbo.org/business-solutions/incoterms-rules/

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Passar Hub: Everything on the new Swiss customs system

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Definition & Explanation

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.

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⚡ Current 2026

Passar Hub: Everything on the new Swiss customs system

Passar replaces E-dec and NCTS. Passar 1.0 (export) is live, Passar 2.0 (import) starts from Q2 2026. Roadmap, ePortal registration, deadlines and FAQ — all on one page.

Passar 1.0Passar 2.0 → Q2 2026Passar 3.0 → Q2 2027

Passar Hub →Declar Info

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Description of delivery terms

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Related Terms

Temporary Storage Facility

Spot Rate

Long-term origin declaration

Deferred Payment

Depot

freight market

Passar Hub: Everything on the new Swiss customs system

Incoterms 2020 Simulator: Who bears costs & risk?

Logistics knowledge straight to your inbox

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