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What are INCOTERMS?

Posted by George Muha on Dec 21, 2015 11:04:52 AM

The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). They are widely used in International commercial transactions or procurement processes. 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 transportation and delivery of goods.

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Topics: freight terms, International Shipping, freight glossary, Incoterms, KDL Logisitcs

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