Transcription of Recommendation 17 PAYTERMS – ABBREVIATIONS FOR …
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Recommendation 17 PAYTERMS – ABBREVIATIONS FOR …
Quently used in international trade , which can be em-ployed when the contract of sale to which they relatemakes this appropriate;Recommends that the ABBREVIATIONS shown in the list of PAYTERMS be used in such the fifteenth session of the Working Party, representa-tives attended from:Austria; Belgium; Bulgaria; Canada; Czechoslovakia;Denmark; Finland; France; German Democratic Repub-lic; Germany, Federal Republic of; Hungary; Italy; Neth-erlands; Norway; Poland; Romania; Spain; Sweden;Switzerland; Turkey; Union of Soviet Socialist Repub-lics; United Kingdom of Great Britain and NorthernIreland; and United States of America. Representativesfrom Japan, Nigeria and Thailand participated underArticle 11 of the Commission s terms of following specialized agencies and otherintergovernmental and non-governmental organizationswere also represented:Intergovernmental Maritime Consultative Organization(IMCO); General Agreement on Tariffs and trade (GATT); European Economic Community (EEC); Cus-toms Co-operation Council (CCC); international Cham-ber of Commerce (ICC); international Organization forStandardization (ISO); international Union of Railways(UIC); international Chamber of Shipping (ICS); Inter-national Civil Airports A
forum for international trade law, such as the United Nations Commission on International Trade Law. RECOMMENDATION The Working Party on Facilitation of International Trade Procedures, Considering that the standardization of terms of payment will contribute to the simplification of international trade procedures;
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