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What Are Incoterms?
Incoterms, or International Commerce Terms, are rules and regulations set forth by the International Chamber of Commerce. Incoterms are used frequently in trade contracts, both international and domestic. Buyers, sellers and shippers of goods use Incoterms to determine who will be responsible for certain charges during the transportation process. These terms are usually agreed upon between the buyer and seller of the goods who then employ their freight forwarder or customs broker to assist in the process.[/vc_column_text][grve_divider line_type=”custom-line” line_width=”100%” line_height=”1″ line_color=”grey” padding_top=”20px” padding_bottom=”20px”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text pb_margin_bottom=”no” pb_border_bottom=”no” width=”1/2″ el_position=”first”]
Rules For Any Transport Mode
- EXW: Ex Works
- FCA: Free Carrier
- CPT: Carriage Paid To
- CIP: Carriage and Insurance Paid To
- DAT: Delivered At Terminal
- DAP: Delivered At Place
- DDP: Delivered Duty Paid
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Rules For Ocean Freight Transport
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