November 5, 2023
CIF and CIP are the only two Incoterms® that require the seller to purchase insurance in the buyer’s name. Under Incoterms® 2010 the insurance cover for […]
November 5, 2023
The main explanations of Incoterms® 2020 have remained the same, with a few key updates and changes. The main change includes a new DPU term replacing DAT, […]
November 5, 2023
The ICC has specific Incoterms rules for inland waterway and sea transport, such as Cost, Insurance, and Freight (CIF) and Free on Board (FOB). The Incoterms for sea and […]
November 5, 2023
There are specific instances that Incoterms will not cover. Incoterms do not: Address all the conditions of a sale Identify the goods being sold nor list the contract […]
November 5, 2023
The single greatest advantage of using Incoterms is the standardization and specificity of complicated international trade aspects. Having a system that eliminates ambiguity between nations has […]
November 5, 2023
An overview of Incoterms® 2020 for 11 Terms, 7 for any mode of transport EXW – Ex-Works or Ex-Warehouse Ex works is when the seller places the […]