Ex 2. Number the following ideas on the order they appear in the text.
1. The Incoterms were first published in 1936.
2. Each Incoterm refers to a type of agreement for the purchase and shipping of goods internationally.
3. Three-letter standard trade terms are commonly used in international commercial transactions for the
sale of goods.
4. The Incoterms are revised periodically to keep up with changes in the international trade needs.
5. The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide.
6. The Incoterms rules are intended to communicate the respective obligations tasks, costs, and risks that
are associated with the transportation and delivery of goods.
7. The Incoterms define the trade contract liabilities between the buyer and the seller.
8. The Incoterms are intended to reduce or eliminate uncertainties that arise from different interpretation
of the rules in different countries.
9. The Incoterms also deal with the documentation required for global trade.
10. The Incoterms are most frequently classified by category.
11. The Incoterms beginning with F refer to shipments where the primary cost of shipping is not paid for
by the seller.
12. Two items are standard: the Commercial Invoice and Packing List.