The International Chamber of Commerce ("ICC") has produced a set of commercial/trade regulations that are utilised in international sale contracts. The Incoterms are not mandatory requirements; they must be explicitly incorporated by the parties into their contract to have legal effect.
Buyers' best Incoterms
FOB stands for freight on board. The seller/exporter will leave the products at the port of origin, prepared and ready for international transit, under the FOB Incoterm.
Ex Works (EXW). Another good choice for purchasers is the EXW Incoterm.
DAP stands for "Delivered at Place."
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