How to choose the best incoterm. A guide for exporters and importers.
In this guide, we will cover the main Incoterms used in ocean freight today and what each of these implies for both importer and exporter to help select a safe and competitive Incoterm for your international sale.
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Did you know that?
- 1 An Incoterm affects the purchase price of the goods. Suppliers often offer different prices based on the chosen Incoterm.
- 2 An Incoterm determines who has the most control over the ocean freight, time, and costs. This also implies having greater capacity to avoid delays, damages to the goods and/or extra costs.
- 3 In the event of disputes and claims, Incoterms can be used to resolve disagreements.
What’s in this guide?
It is extremely important for both parties to put extra thought into the selection of an appropriate Incoterm. But given that each party has its own interests to look out for, that is not always easy to achieve. In fact, there are many factors that must be considered when selecting an Incoterm, which can greatly impact the competitiveness of the international shipment.