Incoterms

What do you mean by Incoterms?

• Information Communication Terms

• International Commercial Terms

Answer explanation

In-International

Co-Commercial

Terms

Incoterms are a set of rules, standard terms which defines for International Trade.

• True

• False

There are __ set of Incoterms

• 5

• 7

• 11

• 4

Incoterms were first introduced in the year 1953.

• True

• False

Why are Incoterms important? because

• Incoterm word sounds great

• they provide standard rules to follow in international trade for buyers &sellers

• they are provided by government