Results for tag: "Incoterms"

Incoterms are a set of international trade terms published by the International Chamber of Commerce (ICC). They are used to define the responsibilities of buyers and sellers in international transactions, including the delivery of goods and payment of associated costs. Incoterms are used to ensure that goods are delivered in a timely manner, and that the costs of transportation, insurance, and other related expenses are shared fairly between the buyer and seller. Incoterms are divided into two categories: those for any mode of transport (E, F, C, D) and those for sea and inland waterway transport (FAS, FOB, CFR, CIF). Each Incoterm has a specific meaning and sets out the obligations of the buyer and seller. For example, FOB (Free On Board) means that the seller is responsible for delivering the goods to the port of shipment, while the buyer is responsible for the costs of loading, insurance, and transportation from the port of shipment. Companies in the Incoterms market include DHL, FedEx, UPS, Maersk, and CMA CGM. These companies provide services such as freight forwarding, customs clearance, and logistics management to facilitate international trade. Show Less Read more