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This would avoid a lot of disputes between banks and companies as to what detail, if any, should appear on documents to evidence compliance. This update is considered necessary in order to keep pace with the ever-evolving global trade landscape. . It will indicate which party to the sale contract, proforma invoice, agreement or purchase order has the obligation to complete the carriage or insurance arrangements, at which point the seller is considered to have delivered the goods to the buyer, and the costs each party is responsible for. The chosen Incoterm® rule can work only if the parties name a place or port in association with that term i. The chosen Incoterm® rule should be appropriate to the goods and to the means of their transport. For Incoterms®2010 rules to apply to a sale contract, an explicit reference to their application must be made.
