IGNOU IBO 4 2026 - Rights and duties under principal incoterms

Question

Rights and duties under principal incoterms

12 Feb 2026

Answer :

Word Count : 293

Incoterms, or International Commercial Terms, are a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers in international trade. They clarify the division of costs, risks, and obligations related to transportation, insurance, customs clearance, and delivery of goods. The rights and duties under principal Incoterms vary depending on the specific term used. For example, under

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