Incoterms
The purpose of INCOTERMS is to provide the framework of international rules for interpretation of most commonly used commercial terms in international trade. As a result different interpretations of such terms in different countries can be avoided or at least greatly reduced.
In order to avoid misunderstandings between the contracting parties and to facilitate their negotiations, the International Chamber of Commerce in Paris adopted in 1936 unified International Rules for the Interpretation of Trade Terms, known as Incoterms (Abbreviated for International Commercial Terms). For each franking, the delivery obligations of the seller and the buyer are described in details on several pages.
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