INCOTERMS
The word Incoterms consists of the abbreviation of the three Latin American terms of the International Commercial Terms, meaning "international trade terms", the most important reason for its application. Determining the exact costs, risks and responsibilities (pyramid) in the international trade process between the seller and the buyer, and Also, the real / legal persons involved in the business process are reviewed and repossessed by the International Chamber of Commerce (ICC). Incoterms were first formulated in 1936 and published on January 1, 2011, the latest edition of the Incoterms 2010, and the 11th Code of Conduct.