INCOTERMS: it’s not just cosmetic
DOI:
https://doi.org/10.58951/dataset.2024.029Keywords:
International Trade, Foreign Trade, INCOTERMS, Seller's Responsibilities, Buyer's Responsibilities, INCOTERMS 2000, INCOTERMS 2010, INCOTERMS 2020Abstract
The transport contract is a key document in international trade, serving as a basis for the sale of goods and the respective obligations between the parties involved. The understanding of the International Commercial Terms (INCOTERMS) is essential for both Sellers and Buyers, as these rules establish guidelines for the allocation of responsibilities, risks, and costs associated with the transportation of goods. This article aims to clarify the roles of Sellers and Buyers under the INCOTERMS, as well as the implications of different terms in the logistics process. Additionally, it highlights the significance of the Bill of Lading in proving the contract of transportation and the delivery of goods. The article also discusses the most recent differences between INCOTERMS, from its 2000 version to its latest change, version 2020, emphasizing the evolution of responsibilities and risk management in international trade.
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