The Incoterms 2010 rules explain a set of three letter- trade terms reflecting B2B practice in contracts for the sale of goods. The rules mainly describe the tasks,costs and risks involved in the delivery of the goods from sellers to buyers. The Incoterms are accepted by governments, legal authorities and practitioners worldwide for the interpretation of the most commonly used terms in global trade.
The main purpose of Incoterms is to remove the anomalies arising from different interpretation of the rules in different countries.
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