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The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. [1] Incoterms define the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various ...
Incoterms inform sales contract by defining respective obligations, costs, and risks involved in the delivery of goods from seller to buyer. Incoterms 2010, the 8th revision, refers to the newest collection of essential international commercial and trade terms with 11 rules. Incoterm 2010 was effective on and from January 1, 2011.
FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
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FCA Fly-Coop Air Service: COOPAIR Hungary MBL First City Air: FIRST CITY United Kingdom GGA First Flying Squadron: JAWJA United States FIR First Line Air: FIRSTLINE AIR Sierra Leone FTS First Sabre: FIRST SABRE Mexico 8F FFR Fischer Air: FISCHER Czech Republic FFP Fischer Air Polska: FLYING FISH Poland 8D EXV FitsAir: EXPOAVIA Sri Lanka FSX
Free Carrier, an international commerce term similar to FOB; Full-cost accounting; Function cost analysis; A component of FVA - one of the X-Value Adjustments in relation to derivative instruments held by banks
This publication has evolved into a necessary companion to the UCP for determining compliance of documents with the terms of letters of credit. It is the expectation of the Drafting Group and the Banking Commission that the application of the principles contained in the ISBP, including subsequent revisions thereof, will continue during the time ...
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