In a sale of goods contract, the buyer and the seller are mediated by a carrier in the movement of the goods from one to the other. The seller and the buyer have to allocate between them the transportation cost and insurance of the goods in transit. Questions arise as to when the goods are taken to be delivered to the buyer and the risk in the goods passes from the seller to the buyer. The International Chamber of Commerce, a non-governmental world organisation, has developed a menu of terms allocating these factors between the seller and the buyer. The terms are called the international commercial terms (Incoterms). The International Chamber of Commerce publishes the terms every ten years. The prevailing Incoterms are 2020. A sale of goods contract chooses an appropriate incoterm and states it in the contract. The term settles all these varied crucial aspects of the contract. The chapter introduces and explores Incoterms.