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Incoterms stands for International commercial terms.

Fifteen terms of sale accepted worldwide in an assignment of costs and responsibilities between buyer and seller. Basically, Incoterms are trade terms published by the International chamber of commerce(ICC), and that is commonly used in both international and domestic trade contracts.

Incoterms basically intended to convey the assignments, expenses, and risks related to the transportation and delivery of products. Incoterms in OpenERP support the business worldwide and are only for information purposes that define international commercial terms and it has no impact in different modules of OpenERP.

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