First semester Lecture #5 Chapter TWO:International Sales … continued College of Law, Al-Mustansiriyah U. Fourth Year Course in Mercantile Contracts 2016-2017 First semester Lecture #5 Chapter TWO:International Sales … continued

The basis on which incoterms were founded We explicate the basis on which they were founded. This includes: 1- common practices, 2- considerations for minimum liabilities as well as 3- minimum references.

Incoterms in the Iraqi law The book covers a number of incoterms in the Iraqi law and explains the obligations on both parties: seller and buyer. Some of these include: Ex Work FOR/FOT FOB Generally, for the incoterms discussed, the organization goes from minimum obligations to maxim obligations for the seller.

Term, word and phrase meaning Grounded, fair, reasonable, common, adopted, major, liabilities, references, customs, port, minimum, avoid.