Category: Incoterms

As a trader or a person working in trade, you’re definitely familiar with Incoterms. Since these terms are defined based on the procedure of purchase and transportation, we all have an understanding. But is this enough? If you are engaged with foreign sale or purchase, you need to dive deep into the understanding of Incoterms. Incoterms are important in sales contract as they determine the responsibility and liability of shipment. How far the seller is responsible for the shipment and When and Where this responsibility is transferred to the buyer. The major factors you have to be cautious of in...