Preview

Business English

Satisfactory Essays
Open Document
Open Document
1153 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Business English
Слайд 1
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.
The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries. As such they are regularly incorporated into sales contracts[1] worldwide.
First published in 1936, the Incoterms rules have been periodically updated, with the eighth version— Incoterms® 2010 [2]'—having been published on January 1, 2011. "Incoterms" is a registered trademark of the ICC.
Слайд 2
Incoterms 2010 is the eighth set of pre-defined international contract terms published by the International Chamber of Commerce, with the first set having been published in 1936. Incoterms 2010 defines 11 rules, down from the 13 rules defined by Incoterms 2000.[3] Four rules of the 2000 version ("Delivered at Frontier", DAF; "Delivered Ex Ship", DES; "Delivered Ex Quay", DEQ; "Delivered Duty Unpaid", DDU).[4] are replaced by two new rules ("Delivered at Terminal", DAT; "Delivered at Place", DAP) in the 2010 rules.
In the prior version, the rules were divided into four categories, but the 11 pre-defined terms of Incoterms 2010 are subdivided into two categories based only on method of delivery. The larger group of seven rules may be used regardless of the method of transport, with the smaller group of four being applicable only to sales that solely involve transportation by water where the

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Businesslawweek5

    • 498 Words
    • 2 Pages

    7. Article 7 – Rules based on the relationships between sellers and buyers related to transportation costs.…

    • 498 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Bus 378 Week 3

    • 3675 Words
    • 10 Pages

    References: August, R., Mayer, D., & Bixby, M. (2009). International Business Law (5th ed.). Upper Saddle River: Prentice Hall…

    • 3675 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    INTERNATIONAL SALE OF GOODS Part II Recap • • • • CISG Transactions covered under CISG Choice of Law Interpretation of CISG- Objective and subjective test • Formation of a contract; offer, acceptance, withdrawal, acceptance with modification. Overview • Buyer’s and seller’s obligations • Buyer’s and seller’s remedies GENERAL STANDARDS OF PERFORMANCE • Both buyer and seller have to perform their obligations under the contract. • A party that fails to perform is in breach. • The party that does not breach has remedies.…

    • 1790 Words
    • 11 Pages
    Good Essays
  • Better Essays

    Q2. List one example of an INTERNATIONAL convention relating to the importing and exporting of goods.…

    • 1072 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Case Study on Blackfly

    • 4331 Words
    • 18 Pages

    Black fly beverages INC is a London base family owned business. Since 2005, the company is committed to serve Canada with ultra premium vodka coolers and a distinctively Canadian profile for the clientele who are interested in quality drinks. The company shares very good business term with liquor control board of Ontario. The company currently has five different products in three categories over 5oo LCBO in six Canadian provinces. The company deals with the ready to drink segment of the alcoholic beverage industry.…

    • 4331 Words
    • 18 Pages
    Powerful Essays
  • Better Essays

    International trade is the exchange of goods, capital, and services across international borders or territories. In most countries this trade represents a significant share of their (GDP) gross domestic product. This type of trade has political, economic, and social importance to all nations involved. There are many factors surrounding international trade, such as, advantages, limitations, foreign exchange rates, and others. As we review these factors, this will allow us to better understand how international trade truly functions.…

    • 1417 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The importance of utilizing all the sources of the Agreement on Trade-Related-Aspects of Intellectual Property (TRIPS) is illustrated in the following case:…

    • 614 Words
    • 3 Pages
    Good Essays
  • Good Essays

    INCOTERMS – universal trade terminology developed by the International Chamber of Commerce. 13 trade terms that describe the responsibilities of the buyer and seller in international trade.…

    • 1811 Words
    • 7 Pages
    Good Essays
  • Powerful Essays

    Schmitthoff, C. (1990) Export Trade: The Law and Practice of International Trade: 9th Edition. London: Sweet & Maxwell…

    • 1312 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    LI Y.L., XU X.L. (2011) 与贸易有关的WTO知识产权案分析. Practice in Foreign Economic Relations and Trade, 2011, Issue 5, pp.42-45 (to generally understand the trade-related IPR case)…

    • 588 Words
    • 4 Pages
    Good Essays
  • Good Essays

    August, R., Mayer, D., & Bixby, M. (2004). International business law. (5th ed.) Upper Saddle…

    • 976 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Incoterms 2010

    • 3221 Words
    • 13 Pages

     ―Incoterms‖: is an abbreviation of ―International Commercial Terms‖  Published by the International Chamber of Commerce, Paris…

    • 3221 Words
    • 13 Pages
    Powerful Essays
  • Best Essays

    New Trade Theory Is a Myth

    • 2873 Words
    • 12 Pages

    Kanta Ray, Dr Pradeep (2011), MGMT 2101 Lecture 3 New Trade Theories and International Product, School of Organisation and Management, University of New South Wales, Sydney, p.1-4.…

    • 2873 Words
    • 12 Pages
    Best Essays
  • Powerful Essays

    For the purpose of this Annex: (a) “a Party” means the individual parties to the Agreement i.e. Brunei Darussalam, the Kingdom of Cambodia, the Republic of Indonesia, the Lao People’s Democratic Republic (“Lao PDR”), Malaysia, the Union of Myanmar, the Republic of the Philippines, the Republic of Singapore, the Kingdom of Thailand, the Socialist Republic of Vietnam and the People’s Republic of China (”China”). “materials” shall include ingredients, parts, components, subassembly and/or goods that were physically incorporated into another good or were subject to a process in the production of another good. "Originating goods" means products that qualify as originating in accordance with the provisions of Rule 2. "production" means methods of obtaining goods including growing, mining, harvesting, raising, breeding, extracting, gathering, collecting, capturing, fishing, trapping, hunting, manufacturing, producing, processing or assembling a good. “Product Specific Rules” are rules that specify that the materials have undergone a change in tariff classification or a specific manufacturing or processing operation, or satisfy an ad valorem criterion or a combination of any of these criteria. Origin Criteria…

    • 4795 Words
    • 17 Pages
    Powerful Essays
  • Satisfactory Essays

    Incoterms 2010

    • 693 Words
    • 3 Pages

    The Incoterms rules are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) widely used in international commercial transactions. The Incoterms rules are intended primarily to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods. The Incoterms rules are accepted by governments, legal authorities and practitioners worldwide for the interpretation of most commonly used terms in international trade. They are intended to reduce or remove altogether uncertainties arising from different interpretation of the rules in different countries.…

    • 693 Words
    • 3 Pages
    Satisfactory Essays