Title: Explain Incoterms and their effect on pricing.
Course: Opportunities in Global Trade (12056-I) > Section: Understanding Price and Payments in the International Marketing Plan

Explanation should include

- definitions of Incoterms
- role of the International Chamber of Commerce (ICC)
- responsibilities of sellers and buyers for the delivery of goods.

Process/Skill Questions:

- What is the importance of incoterms?
- What are the responsibilities of the International Chamber of Commerce (ICC)?
- Why is it important for the buyer and seller to understand each other’s responsibilities during the shipping process?
- When determining price, why is it important for the seller to calculate total cost of delivery in order to insure a fair selling price?
- What are some current trends in shipping practices in regard to global transportation?