INCO (International commercial)

INCO is an acronym for International Commercial Terms, which define the standard terms and conditions of a contract between two parties involved in international trade. These include responsibilities and liabilities of each party, such as delivery dates, payment terms, insurance requirements, shipment methods, and more. INCO terms are a critical component of international trade and ensure that buyers and sellers clearly understand their respective roles in the transaction. By defining these standards, INCO helps simplify the complexities associated with cross-border transactions and fosters greater clarity between both parties.