Toyota Vehicle Purchase Agreement
When commercial traders enter into a contract to buy and sell goods, they are free to negotiate certain contractual terms. These conditions include the price, quantity and characteristics of the goods. Each international treaty also contains the so-called Incoterm (international trade term). The Incoterm chosen by the parties to the transaction determines which party bears the costs of each transport segment, which is responsible for loading and unloading the goods, and who bears the risk of loss at any given time during a given international shipment. Incoterms also influence the valuation base of imported goods. The purpose of the incoterms is to mitigate or reduce confusion between interpretations of shipping conditions by specifying who is obliged to take and/or control the goods at some point in the shipping process. The conditions also specify customs clearance requirements for goods for export or import, as well as requirements for the packaging of items. Incoterms are quite often used in international treaties and the text of the treaty should refer to a specific version. Learn more about the sale and repair of motor vehicles (PDF, 1.5 MB) Toyota Motor Sales, U.S.A., Inc.