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International contract terms play a crucial role in export-import procedures and documentation as they define the responsibilities, risks, and costs shared between buyers and sellers in cross-border trade. These terms, often standardized under Incoterms published by the International Chamber of Commerce (ICC), determine who bears the cost of transportation, insurance, customs clearance, and delivery. Commonly used terms include FOB (Free ________ __________ _______ ____ __________ ________ _____ ___ ____.
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