Incoterms are a set of rules published by the International Chamber of Commerce that define the responsibilities of sellers and buyers for the delivery of goods under sales contracts. They specifically outline who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.

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Incoterms Refers to

Question 16

Multiple Choice

Incoterms refers to

A) International Container Terminals
B) Definitions that define who pays for the various parts of a product's transportation
C) Intercontinental Cooperation Terms
D) Interstate Commerce Terminal policies

Correct Answer: