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The INCOTERMS rules and their importance

Author

Listed:
  • Anca Lazar

    (Faculty of Law, “George Baritiu” University of Brasov)

Abstract

The content INCOTERMS are a set of rules that determine the rights and obligations of the international sales contract, selecting a rule of interpretation of commercial terms INCOTERMS, progress is the result of negotiation between the parties and expresses the ratio of these economic forces. In relation to the obligations of the parties to an international sales contract are several different types of contracts covered by the clause. To define the main rules INCOTERMS was considered as a starting point delivery of goods, establishment of the seller and the buyer2, the rules concerning the obligations of each party that are grouped into ten items with identical titles for all the rules. Due to significant developments in international trade, for making available to retailers in the interpretation of the rules commonly used trade terms in international trade, the International Chamber of Commerce in Paris draw a set of delivery conditions for their interpretation in international sales, rules that were in international trade practice some habits, but who were not of equal significance to traders in different countries.

Suggested Citation

  • Anca Lazar, 2011. "The INCOTERMS rules and their importance," Juridical Tribune - Review of Comparative and International Law, Bucharest Academy of Economic Studies, vol. 1(1), pages 143-151, June.
    • Handle: RePEc:asr:journl:v:1:y:2011:i:1:p:143-151
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    Keywords

    INCOTERMS; International Comerce Terms; string sales; domestic trade; clauses; groups;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General

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