The set of international trading rules that set out the rights and obligations of buyers and sellers in international trade is known as what?
A) DFAIT
B) FITT
C) Incoterms
D) The Paris declaration
E) EMCs

Question

Quizplus · Accepted Answer

Incoterms (International Commercial Terms) are a set of rules published by the International Chamber of Commerce that define the responsibilities of buyers and sellers in international trade transactions, including the transfer of goods, risk, and costs. DFAIT (Department of Foreign Affairs and International Trade), FITT (Forum for International Trade Training), and EMCs (Export Management Companies) are all organizations or entities related to international trade, but they do not specifically refer to the set of rules governing rights and obligations in international trade. The Paris Declaration is a political agreement related to foreign aid, and is not specifically related to international trade rules.

The Set of International Trading Rules That Set Out the Rights