What is 'international commercial term' in SAP AP-TTE - CRM Transaction Tax Engine?

international commercial term - Overview

• Component: AP-TTE

• Component Name: CRM Transaction Tax Engine

• Description: An internationally standardized phrase used in foreign invoices to standardize contract elements and clarify what obligations, expenses, risks, or other elements of export affect the invoice. &EXAMPLE& FOB - Free On Board CPT - Carriage paid

international commercial term - Details

• 
  Key Concepts: 
  International Commercial Terms (Incoterms) are a set of international rules developed by the International Chamber of Commerce (ICC) to define the responsibilities of buyers and sellers in international trade. They are used to determine who is responsible for the costs and risks associated with the transportation of goods. The AP-TTE CRM Transaction Tax Engine is a component of SAP software that helps companies manage their international commercial terms. 
  
  How to use it: 
  The AP-TTE CRM Transaction Tax Engine can be used to manage international commercial terms in SAP software. It allows companies to define their own Incoterms, assign them to specific transactions, and track them throughout the entire process. The engine also provides a comprehensive view of all Incoterms used in a company’s transactions, allowing for better visibility and control. 
  
  Tips & Tricks: 
  When using the AP-TTE CRM Transaction Tax Engine, it is important to ensure that all Incoterms are up-to-date and accurate. This will help ensure that all transactions are compliant with international trade regulations. Additionally, it is important to regularly review and update Incoterms as needed to ensure that they remain relevant and accurate. 
  
  Related Information: 
  For more information on Incoterms, please visit the International Chamber of Commerce website at https://iccwbo.org/resources-for-business/incoterms-rules/. For more information on the AP-TTE CRM Transaction Tax Engine, please visit the SAP website at https://www.sap.com/products/crm/transaction-tax-engine.html.