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Incoterms, or International Commercial Terms, are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers in international trade. They clarify the division of costs, risks, and obligations related to transportation, insurance, customs clearance, and delivery of goods. The rights and duties under principal Incoterms vary depending on the specific term used. For example, under EXW (Ex Works), the seller’s responsibility _____ _________ ____ __________ ________ __________ ____ _______ ___.
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