Incoterms - International
Terms of Trade
The purpose of Incoterms is to provide a set of international rules
for the interpretation of the most commonly used trade terms in
foreign trade. Thus, the uncertainties of different interpretations
of such terms in different countries can be avoided or at least
reduced to a considerable degree.The scope of Incoterms is limited
to matters relating to the rights and obligations of the parties
to the contract of sale with respect to the delivery of goods. Incoterms
deal with a number of identified obligations imposed on the parties
and the distribution of risk between the parties. In total 13 Incoterms
have been defined which are grouped into four basically different
categories, applicable for sea and inland waterway transport or
for all modes of transport.
Click on abbreviation for information.
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