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What Are Incoterms?

Incoterms, or International Commerce Terms, are rules and regulations set forth by the International Chamber of Commerce. Incoterms are used frequently in trade contracts, both international and domestic.

The “Sea or Inland Waterway Only” rules are most commonly used for bulk goods such as oil, coal, and other goods which are not containerized. For other containerized goods, the “Any Mode of Transport” rules are more relevant.

Incoterms 2010 Responsibility Chart