Incoterms®
What Does FOB Mean In Shipping: Free on Board Terms and Meaning Explained
Last updated on May 31, 2024 by Ben Thompson
Shipping Incoterms® can be confusing, but understanding them is crucial for smooth international trade. One key term is "FOB" (Free on Board), which defines when the buyer takes ownership and risk for goods. Knowing FOB helps ensure clear roles and responsibilities, making the shipping process more efficient.
DAP, DPU and DDP Incoterms®: Difference & Tips for these Incoterms®
Last updated on May 29, 2024 by Ben ThompsonLearn about DAP, DPU, and DDP Incoterms®! DAP involves seller delivery to a named place, with the buyer handling unloading and import duties. DPU includes seller unloading. DDP covers all costs, including import duties, by the seller. Choose the best term based on control, cost, and expertise.
Incoterms® 2020 Explained – The Complete Guide
Last updated on May 28, 2024 by Ben ThompsonThe International Chamber of Commerce have published new Incoterms® 2020 that have come into effect from the 1st of January 2020. The ICC originally published Incoterms® in 1936 and have continually made updates to reflect the changes to the Global Trade environment. It’s important that all parties involved in trade clearly understand the changes and…
FCA Incoterm® Explained
Last updated on May 8, 2024 by Ben ThompsonFCA Incoterm® simplifies international shipping by defining when the seller's responsibility ends and the buyer's begins. It is ideal for managing logistics, costs, and ensuring compliance with export and import regulations. Learn more about using FCA in global trade.
Incoterms® 2024: Guide, and changes of Incoterms® Explained
Last updated on January 31, 2024 by Ben ThompsonIncoterms® Guide to use in 2024 Incoterms® were first published in 1936 and are continually updated over time to reflect the changing global business environment to be continually used in 2024 and beyond. The International Chamber of Commerce ICC published the latest version of Incoterms® 2020. These changes came into effect on the 1st of January 2020 and…
Incoterms® in 2023 Guide
Last updated on December 6, 2022 by Ben ThompsonIt is important to know which Incoterms® are applicable in 2023 as they determine the responsibilities of buyers and sellers. Additionally, incorrect Incoterms® can result in costly errors or delays in international trade.
Incoterms® in 2022 Guide
Last updated on April 13, 2022 by Ben ThompsonIncoterms® were first published in 1936 and are continually updated over time to reflect the changing global business environment to be continually used in 2022 and beyond.
Incoterms® 2020 Updates to be Published by the ICC
Last updated on August 1, 2019 by Ben ThompsonIncoterms® 2020 are the new International Trading terms that are set to be published by the International Chamber of Commerce (ICC). The new ICC Incoterms® 2020 will be released on September 2019 and legally come into effect on the 1st of January in 2020.
Incoterms® Explained – The Complete Guide
Last updated on September 15, 2018 by Ben ThompsonIncoterms® play such a vital part in global trade. Incoterms® 2010 or Incoterms® 2018 can seem to be confusing at first. But, buyers and sellers must clearly understand how they work and their obligations along the supply chain. In this article we provide simple explanations along with an Incoterms® infographic to explain Incoterms®.
