Trent Morris who had considerable experience with International Logistics, International Trade (and Shipping as well) is here with us to explain “What are INCO Terms and the Principles of International Logistics and International Trade”.
The challenge with Incoterms is a broad definition that makes it easy for people to agree in a contractual form on how they are going to buy and sell goods. Incoterms govern the actual cost of movement of the goods, when the risk transfer from supplier to buyer, and also who’s paying for the insurance
INCO Terms mentioned in this video:
FOB Free On Board
DDP Delivered Duty Paid
CPT Carriage Paid To
CFR Cost and Freight
FCA Free Carrier
EXW Ex Works
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Editor’s Note: This post was originally published in January 2020, under the title “International Logistics & Trade” in Logistics Bureau’s website.