Inco terms are worldwide accepted commercial terms that defines the respective roles of the buyer as well as of the seller in arrangement of the transportation and other responsibilities and it also clarifies when the ownership of the merchandise takes place. These incoterms are used in conjunction with a sales contract or other method of transacting the deal.
The following are the Incoterms 2000 which are generally used
The title and risk passes on to the buyer including the payment of all transportation and insurance cost from the seller’s point. It can be used for any mode of transport.
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