Watch: What Are Incoterms® 2020?
Watch this 30-second video to understand how Incoterms® divide delivery, transportation costs, customs responsibilities and cargo risk between sellers and buyers.
Quick Overview
Incoterms® are 11 internationally recognized trade rules published by the International Chamber of Commerce.
Terms such as EXW, FCA, FOB, CIF, DAP and DDP clarify specific responsibilities in a sales transaction. The appropriate rule depends on the transportation mode, named place or port and commercial agreement.
Video Transcript
“This 30-second guide explains how the 11 Incoterms® 2020 rules divide delivery, transportation, costs, customs responsibilities and cargo risk between sellers and buyers.
Learn the role of common terms such as EXW, FCA, FOB, CIF, DAP and DDP—and why the correct rule depends on the transport mode, named place and commercial agreement.
Incoterms® do not determine ownership or payment terms.
Always include the selected rule, exact named place or port and ‘Incoterms® 2020’ in the sales contract.”
Compare Incoterms® Responsibilities
This video provides a brief introduction. Use the iContainers Incoterms® guide to compare the delivery, transportation, customs and risk responsibilities assigned under each rule.
When planning a shipment, you can also compare international freight options with iContainers.
Incoterms® is a registered trademark of the International Chamber of Commerce.
