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Define the following and explain: 1. What is INCOTERMS? Define and explain. 2.Purpose of Incoterms Ex-works Factory Free on Board Port of Shipment Cost and

Define the following and explain:

1. What is INCOTERMS? Define and explain.

2.Purpose of Incoterms

Ex-works Factory
Free on Board Port of Shipment
Cost and Freight Port of Destination
Cost, Insurance and Freight Port of Destination

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