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What are INCOTERMS and why do I need to understand them?

INCOTERMS understand
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What are INCOTERMS and why do I need to understand them?

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Incoterms are standard trade definitions most commonly used in international sales contracts. Among the best known Incoterms are EXW (Ex works), FOB (Free on Board), CIF (Cost, Insurance and Freight), DDU (Delivered Duty Unpaid), and CPT (Carriage Paid To).

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