Incoterms

"Incoterms are a series of contractual provisions developed for the international trade in goods. They serve to standardize and expedite trade between companies in different countries. The Incoterms are recognized worldwide and are recommended by international organizations (UNCITRAL, UNECE, etc.), but do not have the status of a formal UN agreement. They are used to determine which party is responsible for the costs of transportation and insurance. Incoterms are components of sales contracts (contracts for the purchase of goods) and primarily govern delivery, costs and risk transfers."

Source: https://www.munich-business-school.de/en/l/business-studies-dictionary/incoterms