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What INCO. Terms stands for in procurement?

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تم إضافة السؤال من قبل Hassan Iftikhar Ahmed , Purchase Manager , Brixx International Private Limited
تاريخ النشر: 2014/03/30
Jahabar Sadiq Ifthikar
من قبل Jahabar Sadiq Ifthikar , Procurement Manager , Compass PMC

The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International commercial transactions or procurement processes. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods.

Mamdouh Manie
من قبل Mamdouh Manie , Executive HRC local sales manager , Ezzsteel

INCOTERMS  detail and clarify : mode of transport , risk ,  insurance, cost  , transfer of money for any international goods purchased

 

Its comonly undesrtood by insurance companies , shipping comapnies , banks

 

its updated evey frew years last update is INCOTERMS2010

 

 

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