Incoterms® are a set of rules which define the responsibilities of sellers and buyers for the delivery of goods under sales contracts for international and domestic trade. They are published by the International Chamber of Commerce (ICC) and are widely used in international commercial transactions. The most recent version of Incoterms®, Incoterms® 2010, was launched in September 2010 and became effective on 1 January 2011. The two main categories of Incoterms® 2010 are now organised by modes of transport. Used in international as well as in domestic contracts, the new groups aim to simplify the drafting of contracts and help avoid misunderstandings by clearly stipulating the obligations of buyers and sellers.