The Incoterms rules are a series of pre-defined trade terms published by the International Chamber of Commerce(ICC)widelyusedininternational commercial transactions. Thepaper aims toexploremajor obligations of thesellerandthebuyerinthecontractof international saleof goods underIncoterms.2010andtoanalyzes the amendments oftherules soastoprovideamorecomprehensiveunderstandingof Incoterms.2010andconnotation of trade terms as defin ed therein .