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Incoterms – What are they?

Are you wondering what Incoterms are? Simply put, they are international commercial terms that define the responsibilities and obligations of buyers and sellers involved in international trade. Here are some commonly used Incoterms:

1. EXW (Ex Works)
2. FCA (Free Carrier)
3. FAS (Free Alongside Ship)
4. FOB (Free On Board)
5. CFR (Cost and Freight)
6. CIF (Cost, Insurance and Freight)
7. CPT (Carriage Paid To)
8. CIP (Carriage and Insurance Paid To)
9. DAP (Delivered At Place)
10. DPU (Delivered at Place Unloaded)
11. DDP (Delivered Duty Paid)

Knowing the right Incoterm to use can save you time and money, so be sure to consult with your freight forwarder or logistics provider before entering into any international trade agreements.

#Incoterms #InternationalTrade #Logistics #FreightForwarding #Shipping