The Incoterm states when the seller’s

costs and risks are transferred onto the buyer.  It’s also important to

understand that not all rules apply in all cases. Some encompass any mode or

modes of transport.  

Incoterms are _____

to as International

Commercial Terms.  To facilitate commerce around the world, the

International Chamber of Commerce (ICC) publishes a set of Incoterms,

officially known as international commercial terms. Globally recognized,

Incoterms prevent

All International purchases will be

processed on an agreed Incoterm to define which party legally incurs costs and

risks.  Incoterms will be clearly stated on relevant shipping documents.