Incoterms are used in purchase orders and determine who should insure goods and who bears the loss if the goods are lost or damaged.

Name: Incoterms are used in purchase orders and determine who should insure goods and who bears the loss if the goods are lost or damaged.
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Incoterms are international commercial terms that define the responsibilities of buyers and sellers in international trade, including who is responsible for insuring goods and who bears the risk of loss or damage.

Incoterms Are Used in Purchase Orders and Determine Who Should