Difference between revisions of "Incoterms"

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== Definition ==
 
== Definition ==
'''Incoterms'''. Incoterms or International Commercial Terms are a series of international sales terms, published by the International Chamber ofCommerce (ICC). They standardize international trade practices,facilitate trade, and minimize misunderstandings over commercial terminology. They are therefore widely used in international commercial transactions. They divide transaction costs and responsibilities between buyers and vendors. In particular, they define which parties incur the costs and at what specific point the costs are incurred.
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'''Incoterms'''. Incoterms or International Commercial Terms are a series of international sales terms, published by the International Chamber ofCommerce (ICC). They standardize international trade practices, facilitate trade, and minimize misunderstandings over commercial terminology. They are therefore widely used in international commercial transactions. They divide transaction costs and responsibilities between buyers and vendors.  
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In particular, they define which parties incur the costs and at what specific point the costs are incurred.
  
 
[[Category:Supply Chain Finance]]
 
[[Category:Supply Chain Finance]]

Latest revision as of 13:50, 13 February 2020

Definition

Incoterms. Incoterms or International Commercial Terms are a series of international sales terms, published by the International Chamber ofCommerce (ICC). They standardize international trade practices, facilitate trade, and minimize misunderstandings over commercial terminology. They are therefore widely used in international commercial transactions. They divide transaction costs and responsibilities between buyers and vendors.

In particular, they define which parties incur the costs and at what specific point the costs are incurred.

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