Incoterms


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Incoterms

(ˈɪnkəʊˌtɜːmz)
n
(Commerce) a glossary of terms used in international commerce and trade, published by the International Chamber of Commerce
References in periodicals archive ?
The official explanation describing the use of the Incoterm DAP requires the seller to clear the goods for export, where applicable.
INCOTERMS are international trade terms that are not legally mandatory.
The new Incoterms 2010 rules (Incoterms is short for International Commercial Terms) have been drawn up by the International Chamber of Commerce and reflect the changes that have taken place in international trade since the last version of the rules was published in 2000.
Two of the most important were the launch of Uniform Rules for Demand Guarantees URDG758 as a replacement of URDG458 rules in Jul 2010 and revisions to Incoterms, reducing the number of rules that define buyers' and sellers' respective obligations and risks when entering a contract of sale.
The approach to realizing these benefits is related to leveraging incoterms to realize financial benefit and reduced variability.
Delivery terms are typically based on Incoterms or "international commercial terms".
The government has also decided to start a specially designed training course on export management in order to educate SMEs on various domains like institutional set-up for export promotion, export trade correspondence, export incentives, INCOTERMS export documentation, export finance/credit, export credit guarantee scheme/policies etc.
A função dos INCOTERMS é estabelecer em que momento e em que localidade, do ponto de vista legal, as mercadorias foram efetivamente entregues pelo exportador ao importador, de acordo com Spinola (1998).
One final word about the UCC: In 2004, the American Law Institute (ALI) and the National Conference of Commissioners on Uniform State Laws (NCCUSL) deleted the "shipping and delivery" terms contained in the UCC and replaced them with Incoterms 2000, which await approval by each state's legislature.
Decisions on incoterms, without the involvement of the transaction tax specialist, could be a financial risk, and failure to use incoterms to help structure tax-efficient international transactions could be an opportunity missed.
Incoterms (international commercial terms) are a set of standardized export pricing terms developed by the ICC (International Chamber of Commerce) and endorsed by UNCITRAL (United Nations Commission on International Trade Law).
INCOTERMS, Reference Works: Foreign Commerce Handbook (17th ed.