International Commercial Terms (‘Incoterms’) are internationally recognised standard trade terms used in sales contracts. They’re used to make sure buyer and seller know:
- who is responsible for the cost of transporting the goods, including insurance, taxes and duties
- where the goods should be picked up from and transported to *who is responsible for the goods at each step during transportation
The current set of Incoterms is Incoterms 2010. A copy of the full terms is available from http://www.iccwbo.org/products-and-services/trade-facilitation/incoterms-2010/
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