11 Essential Incoterms 2020: Definitions, Examples & Comparison Chart
Why Understanding Incoterms Matters Over 85% of global trade uses standardized terms like FOB and CIF. Mastering these 3-letter codes helps you: ⚠️ Key Insight: Responsibilities can be negotiated beyond standard terms but must be explicitly written in contracts What Are Incoterms Rules? Created by the International Chamber of Commerce (ICC), Incoterms are: “Globally recognized trade terms defining risk […]
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