Incoterms® rules published first in 1936 and regularly updated by the International Chamber of Commerce (ICC), Paris, have

become globally accepted trade terms.
Incoterms® rules define specific sales terms in foreign trade (e.g. transfer of risk) clearly define the parties’ respective obligations and reduce the risk of legal complications achieve an internationally unified/common interpretation of certain duties and obligations for sellers and buyers (e.g. licenses, packaging)

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