Incoterms, or INternational COmmercial Terms, are a set of international trade terms used the world over.
They may also be defined as regulations regarding conditions for goods delivery. They are used to divide transaction costs and responsibilities between buyer and seller, and reflect modern transportation practices.
They are very similar to the U.N. Convention on Contracts for the International Sale of Goods.
Since 1936, the International Chamber of Commerce (ICC) has been responsible for preparing and updating them in accordance with changes in international trade. Currently in force are Incoterms 2000, set out in the ICC’s Publication 560.
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incoterms.pdf | 1.77 MB |
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