INCOTERMS

They are standard sets of global trading terms and conditionsAll the provisions and agreements of a contract., issued by the International Chamber of Commerce, designed to help traders, lawyers, transporters and insurers when goodsA merchandise or materials which are used to satis... are bought, sold and transported. Essentially, the 11 Incoterms rulesDocumented definitions of how work is to be perfor... setSee Secure Electronic Transaction. out obligations for trading partners (for example, who is responsible for transport, importGoods brought into one country from another. and exportExport of goods means to ship goods to a foreign c... clearanceA document stating that a shipment is free to be i... etc.) and, importantly, the point in the journey where risk transfers from the seller to the buyerAn enterprise that arranges for the acquisition of....