Shipping Terms
Many traders often get confused about the payment and shipping terms uses
So I have assembled a very general breakdown below for all users. Please note the following
- There are 11 terms
- Internationally Recognized Trading Terms
- Defined by International Chamber of Commerce (ICC) in 2010
- Used for Purchase & Shipping of Goods
So when you are making your deal with any customers or suppliers in foreign countries, it is important to clearly define the terms at which the price is being set.
It is vital for you to reconfirm the terms with your shipping operator and your supplier or customer. Many folks out there do not fully understand the terms or are using old references.
**Shipping Terms are constantly being updated and changed. For the latest version, please visit the ICC Incoterms page.