Trade Term Knowledge

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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FOB Shipments From China: How It Works & How to Manage It

Industry data indicates that approximately 70% of China’s exports utilize FOB terms, with usage trending upwards. FOB stands as one of the most prevalent Incoterms® in China’s international trade. For importers sourcing from China, acquiring a thorough understanding of FOB is essential. This article serves as your complete guide to mastering it. What Is FOB

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