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Incoterms 2010

Incoterms 2010 is a set of 13 internationally standard trade terms which allows the parties to designate a point at which the costs and risks of transport are precisely divided between the seller and buyer. Since the last revision in 2000, much has changed in global trade. Cargo security is now at the forefront of the transportation agenda for many countries. In addition, the United States’ Uniform Commercial Code was revised in 2004, resulting in a deletion of US shipment and delivery terms. The latest version of the Incoterms rules will reflect these changes and others. Incoterms 2010 will come into effect on January 1 2011

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