In today’s global economy, international trade has become more prevalent than ever before. With the rise of cross-border commerce, it’s important to understand the various rules and guidelines that govern these transactions. That’s where Incoterms come in. Developed by the International Chamber of Commerce (ICC), Incoterms provide a universal set of rules and guidelines that help facilitate trade by providing a common language for buyers and sellers to set the terms of their trades.
Incoterms
5 Essential Notes about: DDP Incoterms (Delivered Duty Paid)
DDP Incoterms means that the seller delivers the goods cleared for import ready for unloading on the means of transport…
5 Essential Notes About: DAP Incoterms (Delivered At Place)
DAP Incoterms means that the seller delivers the goods at the buyer disposal ready for unloading at the named place…
5 Essential Notes about: DAT Incoterms (Delivered At Terminal)
DAT Incoterms means that the seller delivers the goods, once unloaded from the arriving means of transport, placed at the…
5 Essential Notes about: CIF Incoterms (Cost, Insurance & Freight)
CIF Incoterms means that the seller delivers the goods on board of the vessel. In addition to cost and freight…
5 Essential Notes about: CFR Incoterms (Cost and Freight)
CFR Incoterms (Cost and Freight) means that the seller is obliged to deliver the goods onboard of the vessel. The…
5 Essential Notes about: FAS Incoterms (Free Alongside Ship)
FAS Incoterms (Free Alongside Ship) means that the seller must place the goods alongside the ship nominated by the buyer.…
5 Essential Notes about: CIP Incoterms
Carriage and Insurance Paid To (CIP Incoterms) means that the seller delivers the goods to the carrier at an agreed…
5 Essential Notes about: CPT Incoterms (Carriage Paid To)
Carriage Paid To (CPT Incoterms) means that the seller delivers the goods at agreed place in origin country. The seller…
5 Essential Notes about: Free On Board (FOB) Incoterms
Free On Board (FOB) as a most frequently used Incoterms globally, is only applied to sea and waterway shipments. In…