{"id":5730,"date":"2020-01-02T02:34:25","date_gmt":"2020-01-02T02:34:25","guid":{"rendered":"https:\/\/syamhassan.com\/my\/?p=5730"},"modified":"2021-07-24T11:27:15","modified_gmt":"2021-07-24T11:27:15","slug":"past-year-final-exam-question-jun-2017","status":"publish","type":"post","link":"https:\/\/syamhassan.com\/my\/past-year-final-exam-question-jun-2017\/","title":{"rendered":"History of Incoterms"},"content":{"rendered":"\n<p>\u2022 Incoterms (an acronym for International Commercial Terms) established in 1936 by the International Chamber of Commerce (ICC).<\/p>\n\n\n\n<p><br>\u2022 Incoterms is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC).<\/p>\n\n\n\n<p><br>\u2022 The use of Incoterms in International Trade is widespread today.<\/p>\n\n\n\n<p><br>\u2022 One of the first initiatives of the International Chamber of Commerce (ICC) to facilitate international trade was to explore the understanding of trade terms.<\/p>\n\n\n\n<p><br>\u2022 The latest revision, Incoterms 2020 came into force on 1 January 2020, replacing the previous version Incoterms 2010.<\/p>\n\n\n\n<p><br>\u2022 Incoterms identify the obligations placed on the parties to the contracts in terms of:<br>\u2013 Responsibilities relating the costs and their division when shipping the goods<br>\u2013 Distribution of risks associated with the movement of the goods<br>\u2013 Where these risks transfer to another party<\/p>\n\n\n\n<p>\u2022 The aim is to assist Incoterm users to identify the correct terms for their particular requirements. These two categories:<br>\u2013 Terms for any Mode or Modes of Transport: include CIP, CPT, DAP, DAT, DDP, EXW, FCA \u2013 All of these terms need to specify the port or destination<br>\u2013 Terms for Sea and Inland Waterway Transport: include CIF, CFR, FAS, FOB \u2013 All are to the named port of destination<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2022 Incoterms (an acronym for International Commercial Terms) established in 1936 by the International Chamber of Commerce (ICC). \u2022 Incoterms is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). \u2022 The use of Incoterms in International Trade is widespread today. \u2022 One of the first initiatives of the International [&#8230;]\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,69],"tags":[],"class_list":["post-5730","post","type-post","status-publish","format-standard","hentry","category-export-and-import-practices","category-international-business-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>History of Incoterms - Syam.h<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"History of Incoterms - Syam.h\" \/>\n<meta property=\"og:description\" content=\"\u2022 Incoterms (an acronym for International Commercial Terms) established in 1936 by the International Chamber of Commerce (ICC). \u2022 Incoterms is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). \u2022 The use of Incoterms in International Trade is widespread today. \u2022 One of the first initiatives of the International [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/syamhassan.com\/my\/past-year-final-exam-question-jun-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"Syam.h\" \/>\n<meta property=\"article:author\" content=\"facebook.com\/syamhassan\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-02T02:34:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-24T11:27:15+00:00\" \/>\n<meta name=\"author\" content=\"syam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@syamhassan\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"syam\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/syamhassan.com\/my\/past-year-final-exam-question-jun-2017\/\",\"url\":\"https:\/\/syamhassan.com\/my\/past-year-final-exam-question-jun-2017\/\",\"name\":\"History of Incoterms - 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