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incoterms

nounC2Very rare — outside the 30,000 commonest English words, so you will meet it in writing rather than in speechToo rare in one of the two pools to compare — fewer than 20 uses in speech or in writing

Incoterms are the standard terms saying who pays and who bears risk. Agree the incoterms.

They are three-letter codes published by an international body and understood everywhere. Getting the incoterms wrong is how a shipper ends up liable for goods on the far side of the world.

Definitions of incoterms

  1. 1nounincotermsThe standard terms saying who pays and who bears risk.C2

    “The whole dispute came down to which incoterms had been agreed.”

incoterms is terms.

Practised in Shipping & Logistics

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