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Incoterms

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Incoterms

At Clever Fox, we believe that understanding Incoterms is crucial for anyone involved in international trade. Incoterms, short for International Commercial Terms, are a set of predefined commercial terms published by the International Chamber of Commerce (ICC). These terms are used in international contracts to clearly define the responsibilities of buyers and sellers, ensuring smooth and predictable trade transactions.

What Are Incoterms?

Incoterms provide a universal set of rules and guidelines that facilitate international trade by defining the responsibilities of buyers and sellers in terms of delivery, risk, and cost. They help determine who is responsible for transportation, insurance, duties, and customs clearance, among other aspects of the shipping process.

Key Incoterms
  • EXW (Ex Works): The seller makes the goods available at their premises. The buyer bears all costs and risks involved in taking the goods from the seller's location to the desired destination.
  • FOB (Free on Board): The seller is responsible for delivering the goods onto the vessel at the specified port of shipment. The risk transfers to the buyer once the goods are on board.
  • CIF (Cost, Insurance, and Freight): The seller covers the cost, insurance, and freight to the port of destination. The risk transfers to the buyer once the goods are on board the vessel.
  • DAP (Delivered at Place): The seller is responsible for all costs and risks until the goods are delivered to the specified destination, excluding import duties and taxes.
  • DDP (Delivered Duty Paid): The seller takes on all responsibilities, including duties, taxes, and delivery to the buyer's premises.

At Clever Fox, we guide our clients through the complexities of Incoterms, ensuring they choose the terms that best suit their needs and protect their interests. Our team of experts is always on hand to provide advice and support, helping you navigate international trade with confidence and ease.

For more information on Incoterms and how they can benefit your business, contact Clever Fox today. Our dedicated team is here to provide the insights and assistance you need to make informed decisions and ensure the success of your international trade operations.

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