Abstract
ABSTRACT Drawing on three-dimensional (HS6 product-destination-year) data on delivery terms in exports from Turkey, this study comprehensively explores the determinants of INCOTERMS clauses in three dimensions: legal, financial, and strategic. We show that a larger share of foreign sales occurs on high seller risk responsibility delivery terms when the export destination has better regulations, easier customs clearance, and high financing costs. Our findings also suggest the influence of bargaining power and experience on delivery terms. That is, the share of exports transacted on high supplier responsibility terms decreases with the number of export destinations served but increases with the number of products shipped to a particular export market in the past.
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