Incoterms (International Commercial Terms)
Incoterms (International Commercial Terms)
Incoterms (International
Commercial Terms)
The international chamber of commerce first published in 1936 a set of international rules for
the international rules for the interpretation of trade terms. These rules were known as
Incoterms 1936. Amendments and additions were later made as 1953, 1967, 1990 and 2000 to
bring the standards in line with current international trade practices.
The following are the Incoterms
1)EXW ex-works
1. a) Carriage to be arranged by the buyer.
2. b) Risk transfer from the seller to the buyer when the goods are at the disposal of the
purchaser.
3. c) Cost of assignment from the vendor to the buyer when the goods are at the disposal of
the buyer.
1. b) Risk transfer from the seller to the buyer when the goods pass the ships rail.
2. c) Cost transfer at the port of destination buyer , paying such costs as are not for the sellers
account under the carriage contract.
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