Incoterms are terms of sale that define who arranges for the payment and handling of the goods during shipping, from the moment the goods leave the seller’s door, up until their arrival at the buyer’s final destination.
“Incoterms” is shorthand for “International Commercial Terms” as defined by the International Chamber of Commerce.
Incoterms are an agreement between the seller and the buyer. *It is ultimately up to the buyer and the seller to agree on each party's responsibility of cost and risk before the shipment begins. *
For more information about incoterms, see A Quick Guide to Incoterms.
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