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Incoterms Essay

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Below is an essay on "Incoterms" from Anti Essays, your source for research papers, essays, and term paper examples.

COMERCIAL TERMS AND THEIR ROLE IN INTERNACIONAL SALES TRANSACCIONES

INCOTERMS are internationally accepted commercial terms, developed in 1936 by the International Chamber of Commerce (ICC) in Paris. INCOTERMS 2000 define the respective roles of the buyer and seller in the agreement of transportation and other responsibilities and clarify when the ownership of the merchandise takes place. These terms are incorporated into export-import sales agreements and contracts worldwide and are a necessary part of foreign trade. Also, they are used in union with a sales agreement or other methods of sales transactions and define the responsibilities and obligations of both, the exporter and importer in Foreign Trade Transactions. Then, the main objectives of Incoterms 2010 deal with the contract of Foreign Trade concerned with the loading, transport, insurance and delivery transactions. Its main function is the distribution of goods and regulation of transport charges. 
Another significant role played by Incoterms is to identify and define the place of transfer and the transport risks involved in order to justify the ownership for support and damage of goods by shipments sent by the seller or the buyer in an event of execution of transport.¬†Incoterms make international trade easier and help traders in different countries to understand   each other. These International Commercial Terms are the most widely used international contracts protected by the ICC copyright.¬†
The purpose of Incoterms is to establish a set of international rules for the interpretation of trade terms used in international transactions. In this way, may avoid the uncertainties of different interpretations of this terms in different countries, or at least, may be greatly reduced. Incoterms are designed in principle to be used when goods are sold for delivery beyond national border as a commercial terms. However, in practice at times also incorporated into contracts of sale of goods on internal markets....

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