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Why is it necessary to have Incoterms?
Why is it necessary to have Incoterms?
WHEN DRAWING UP THEIR CONTRACT, IF BUYER AND SELLER HAVE SOME COMMONLY UNDERSTOOD RULES TO SPECIFICALLY REFER TO, THEY CAN BE SURE OF DEFINING THEIR RESPECTIVE RESPONSIBILITIES SIMPLY AND SAFELY. IN SO DOING THEY ELIMINATE ANY POSSIBILITY OF MISUNDERSTANDING AND SUBSEQUENT DISPUTE.THEREFORE, INCOTERMS ARE QUITE NECESSARY.
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