Incoterms® — short for International Commercial Terms — are a set of standardised, globally recognised rules published by the International Chamber of Commerce (ICC). They define the responsibilities, risks, and costs shared between a buyer (importer) and a seller (exporter) in the transportation and delivery of goods.

An Annual Maintenance Contract (AMC) is an agreement between a company and a service provider for regular maintenance of equipment or assets. It helps ensure smooth operations, reduces downtime, and controls maintenance costs. This guide explains AMC types, benefits, and its role in procurement and contract management.