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Import-Export Practices and Operations Chapter 2 Incoterms 2000 2010 Learning Objectives After completing this chapter, students should be able to understand the structure of Incoterms to grasp the essential meaning of Incoterms and use them correctly in practice; to differentiate issues of risk and title; (2000 2010), and its common issues to grasp the main differences between Incoterms 2000 and 2010 Chapter Structure Section One International Trade Practices relating to Trade Terms Section Two Introducing Incoterms 2000 Section Three Introducing Incoterms 2010 Section Four Main Differences between Incoterms 2000 2010 Section Five Incoterms and Issues of Risk Title Section Six Incoterms and Terms of Sale, Terms of Payment Section One International Trade Practices relating to Trade Terms There are three influential international trade practices regarding trade terms: Warsaw-Oxford Rules 1932; The Revised American Foreign Trade Definitions 1941; International Rules for the Interpretation of Trade Terms---International Commercial Terms for short (Incoterms). Section One International Trade Practices relating to Trade Terms 1. Warsaw-Oxford Rules 1932 In 1928, the International Law Association (ILA) held a meeting in Warsaw, and worked out the Uniform Rules for CIF sales contracts called Warsaw Rules 1928. It was revised several times. At the Oxford Convention in 1932, it was revised again and thus renamed as Warsaw-Oxford Rules 1932. It indicates the nature of a CIF contract and stipulates the responsibilities, expenses and risks of the two parties under CIF terms. However, it is seldom used in foreign trade. Section One International Trade Practices relating to Trade Terms 2. The Revised American Foreign Trade Definitions 1941 In 1919, some American commercial groups drew up The US Expo
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