Make an active choise, choose freight on your terms.

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Make an active choise, choose freight on your terms.

If you control the freight, you can decide how to move the goods. Either you choose the time, capacity or sustainability. You need to agree on means of transportation with the other party involved in the agreement of sale.

Make sure you don´t get submerged halfway through the process.

The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law.

They are widely used in international commercial transactions or procurement processes and their use is encouraged by trade councils, courts, and international lawyers.

A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the global or international transportation and delivery of goods.

Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.

The Incoterms rules are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of most commonly used terms in international trade.

They are intended to reduce or remove altogether uncertainties arising from different interpretations of the rules in different countries.

As such they are regularly incorporated into sales contracts worldwide.”Incoterms” is a registered trademark of the ICC. The first work published by the ICC on international trade terms was issued in 1923, with the first edition known as Incoterms published in 1936. The Incoterms rules were amended in 1953,1967, 1976, 1980, 1990, and 2000, with the eighth version— Incoterms 2010 having been published on January 1, 2011.

The ICC has begun consultations on a new revision of Incoterms, to be called Incoterms 2020; the new Incoterms are expected to appear in the last quarter of 2019 to enter into force at the beginning of 2020.

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  1. Like!! Thank you for publishing this awesome article.

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