Why use Incoterms in International Trade?
• Incoterms define the buyer’s and seller’s responsibility for arranging and paying for transportation, documentation, custom’s clearance and transport insurance. • Incoterms are an internationally recognised code that makes it easier for traders in different countries to conduct business with one another. • The correct use of Incoterms provides the legal certainty upon which mutual confidence between business partners can be based. Incoterms outlined: There are 13 different Incoterms and they have been grouped into 4 different categories.
