Learn Import Export Part 2 📦 What is Incoterms? – By Harsh Dhawan 🌍 In international trade, Incoterms (International Commercial Terms) are globally accepted rules published by the International Chamber of Commerce (ICC). They define the responsibilities of buyers and sellers regarding delivery, risk, insurance, and transportation costs. 🚢 For example, if you are exporting garments from India to Europe, Incoterms clearly mention who will bear the shipping charges, who will insure the goods, an
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When goods are damaged at the port during export, determining responsibility depends on several factors, particularly the Incoterms (International Commercial Terms) agreed upon in the sales contract. Here’s a general breakdown: 1. Incoterms Define Responsibility The Incoterms determine who bears the risk and at what point the risk transfers from seller to buyer. Common Incoterms include: FOB (Free On Board): The seller is responsible until the goods are loaded onto the vessel. If the damage happ
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Manisha on Instagram: "Incoterms Explained – Export Edition 🚢✈️ Incoterms define who pays, who bears risk, and who is responsible during international trade. From EXW to DDP, these rules avoid confusion between exporters & importers and ensure smooth global shipping. 📦 Know your terms. 💼 Reduce disputes. 🌐 Trade smarter across borders. Contact us - 7095944999 #incoterms #export #import #trade #shipping"
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