International trade is essential for today's global economy, but it also opens shippers up to the risk of costly mistakes and errors. The International Chamber of Commerce introduced Incoterms (international commercial terms) to facilitate global trade by clearly outlining the obligations, risks, and costs of the buyer and seller under different contractual terms.
Topics: Incoterms
When you’re transporting goods through multiple countries and dealing with different languages, customs, and regulations, conflicts and misunderstandings are bound to happen. Incoterms help reduce misunderstandings by clarifying exactly what each party is responsible for in a global trade contract.
Topics: Incoterms
When shipping goods, you must play by the rules. Failing to do so may lead to delays, costly fees, and penalties.
Topics: Freight Forwarding & Cargo Transportation, Incoterms
Topics: Incoterms, incoterms 2020, import compliance
Importing and exporting carries risks, but who bears those risks depends on the chosen Incoterm.
Topics: Supply Chain Management, Incoterms, incoterms 2020, import compliance
