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- Title
INTERNATIONAL RULES FOR MERCHANDIZE DELIVERY -- DELIVERY CONDITIONS INCOTERMS AND RAFTD THE TITLE.
- Authors
BĂLUNĂ, Radu Nicolae
- Abstract
International trade can take various forms and the complexity of the transactions influences the way in which these are regulated. Both partners involved in an international sales transaction (the importer and the exporter) seek to manage as efficiently as possible the costs and the risks of this operation. The International Chamber of Commerce in Paris set in 1936 a set of rules facilitating international transactions under the form of 11 delivery conditions called „Incoterms“ (abbreviation from International Commercial Terms). These were revised in 1953 and completed 1967, 1976, 1980, 1990, 1999, and in 2010. If „Incoterms 2000“ (the published form of the 1999 variant) proposed the definitions for 13 delivery terms structured on 4 groups, „Incoterms 2010“ restricted the number of delivery terms to 11 which have been applicable since 2011. On the North American Continent RAFTD is the acronym for Revised American Foreign Trade Definition and it is the equivalent of Incoterms rules. They were developed in 1919, subsequently revised in 1941 and deal with 7 widely used terms in international trade.
- Publication
Annals of Eftimie Murgu University Resita, Fascicle II, Economic Studies, 2012, p187
- ISSN
1584-0972
- Publication type
Academic Journal