Understanding Incoterms for Global Trade
Classified in Philosophy and ethics
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What Are Incoterms and When Are They Used?
Incoterms are defined and developed by the International Chamber of Commerce (ICC), with the aim of establishing a standardized language that can be used by buyers and sellers involved in international business.
Key Incoterms Explained
- EXW - Ex Works
- The seller's only responsibility is to make the goods available to the buyer at the seller's premises (factory, warehouse, etc.). The buyer bears all costs and risks from that point.
- FCA - Free Carrier
- The seller must deliver the goods, cleared for export, to the carrier or another person nominated by the buyer at the named place. The seller loads the goods if delivery occurs at the seller's premises.
- FAS - Free Alongside Ship
- The seller is responsible for placing