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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, 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 parties to the contract of sale with respect to the delivery of goods. Incoterms deal with a number of identified obligations imposed on parties and the distribution of risk between 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.

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