Trade Terms definition
Examples of Trade Terms in a sentence
Save as provided in paragraph 7.6, the time at which the risk shall pass shall be fixed in accordance with the International Rules for the Interpretation of Trade Terms (Incoterms) of the International Chamber of Commerce in force at the date of the formation of the contract.
Supplier agrees that such claims will be paid in the ordinary course of business after confirmation of a plan pursuant to the Customary Trade Terms then in effect.
The delivery of the products shall be subject to the delivery term DDP (Delivery Duty Paid) in accordance with the latest edition of Incoterms (ICC Official Rules for the Interpretation of Trade Terms).
If any provision of the Trade Terms is found to be illegal, invalid or unenforceable, that provision shall be read down to the extent necessary and reasonable in all circumstances to give it a valid operation or partial character.
For Rule 11 Trade Terms, title transfer upon interchange from one rail carrier to another rail carrier shall occur when the receiving rail carrier’s tracing system officially shows the railcar as “junction received”.