Understanding Incoterms: The Rules Of International Trade

Incoterms, a contraction of the English term “International Commercial Terms”, are international trade terms used to organise transport. These rules define the responsibilities and obligations of the seller and buyer parties, as well as the transfer of risks and costs between them. Incoterms can also be used to determine the primary mode of transport, place of delivery, port of destination and customs clearance procedures.

Source Asd-int

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