Disruptions from supply chain and logistics backups have been all over the news lately. The problem is so serious that it’s even made it to the funny pages. Aside from these current systemic issues, every international sale poses logistics and supply chain concerns, since merchandise may get delayed, lost, or damaged in transit. The question then becomes which party,…
Incoterms® – an abbreviation for International Commercial Terms – are the rules first issued by the International Chamber of Commerce in 1936 as a way of unifying the shipping practices and legal interpretations between those involved in global trade around the world. As international trade has grown over the decades, so have Incoterms® rules evolved to meet the needs of sellers and buyers. What Are Incoterms®? Incoterms® rules have…
Incoterms are rules issued by the International Chamber of Commerce that facilitate global trade and are updated every ten years or so in an effort to keep up with the changes that take place in international trade. The current version is Incoterms 2010, but a new version, Incoterms 2020, is expected to be released in…
