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Understanding Incoterms 2010
International Commercial Terms, or Incoterms®, are commercial terms or rules that define the seller's and buyer's responsibilities for the delivery of goods under a sales contract. They are published by the International Chamber of Commerce (ICC). Incoterms® are widely used in commercial transactions but often ignored until they are needed. Usually they are incorrectly used and in some cases taken for granted until a shipment goes wro...
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