International trade and International Commercial Terms: INCOTERMS

Abstract

The International Chamber of Commerce: ICC rules on international commercial terms: Incoterms. The International Chamber of Commerce members meet every 10 years to review and revise international commercial terms: Incoterms are in accordance with the system of logistics transport and supply chain today. This is to promote international trade and facilitate the buyer and the seller, as well as the carrier and the destination. The buyer and the seller will determine incoterms to deliver each product. Currently, the international commercial terms (Incoterms 2010) defines 11 rules.

Keywords: Logistics Transportation, InternationalTrade, Incoterms