Incoterms were developed by the International Chamber of Commerce in order to ________.
A) provide permission to export
B) standardize the cost of shipping and insuring exported items
C) define how the buyer and seller share freight and insurance costs
D) reduce the costs of shipping and insuring exported products

Question

Quizplus · Accepted Answer

Incoterms were developed to define how the buyer and seller share responsibilities, risks, and costs related to the transportation and delivery of goods, including freight and insurance costs.

Incoterms Were Developed by the International Chamber of Commerce in Order