Meaning of the word "International Commercial Terms" in English
What does "International Commercial Terms" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
International Commercial Terms
US /ˈɪntərˈnæʃənəl kəˈmɜrʃəl tɜrmz/
UK /ˈɪntəˈnæʃənəl kəˈmɜːʃəl tɜːmz/
Plural Noun
a set of internationally recognized rules published by the International Chamber of Commerce (ICC) that define the responsibilities of sellers and buyers for the delivery of goods under sales contracts
Example:
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The shipping terms were specified using International Commercial Terms (Incoterms).
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Understanding International Commercial Terms is crucial for global trade.
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