THE CONDITIONS OF DELIVERY IN THE INTERNATIONAL TRADE - INCOTERMS 2020

Elena Enache (), Sorin Enache () and Cristian Morozan
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Elena Enache: "Constantin Brancoveanu" University from Pitesti
Sorin Enache: "Danubius" University from Galaţi
Cristian Morozan: žConstantin Brancoveanu University from Pitesti

Management Strategies Journal, 2021, vol. 52, issue 2, 19-24

Abstract: The conditions of delivery issued by the International Chamber of Commerce control the essential obligations of the buyer and of the seller in the international trade, such as the transfer of goods to the buyer, transport costs, the liability for the loss and damage of goods and the insurance costs. The delivery conditions (INCOTERMS) apply to the parties of a sale contract (national or international) and refer to - but are not limited to - special rights and obligations under this contractual relationship. Based on a guaranteed constant definition in this way, subsequent problems of interpretation or discrepancies between the parties of the sale contract must be avoided. These conditions do not represent legal dispositions and thus they become legally binding only if they have been effectively agreed between sale contract parties by means of an appropriate reference. Regardless, in individual cases, conflicting legal dispositions still have priority over an INCOTERMS clause.

Keywords: export-import; trade; commercial terms; goods (search for similar items in EconPapers)
JEL-codes: F13 L81 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:52:y:2021:i:2:p:19-24

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