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Understanding INCOTERMS: Key Concepts and Applications

3.5 INCOTERMS 3.5.1 Applicable to Any Mode of Transport: When engaging in international trade, clear communication and defined responsibilities are critical for a smooth transaction. This is where INCOTERMS (International Commercial Terms) come into play. Established by the International Chamber of Commerce (ICC), INCOTERMS standardize trade terms and clarify who is responsible for each aspect …