Understanding the Incoterms used in international trade
In today’s global economy, international trade has become more prevalent than ever before. With the rise of cross-border commerce, it’s important to understand the various rules and guidelines that govern these transactions. That’s where Incoterms come in. Developed by the International Chamber of Commerce (ICC), Incoterms provide a universal set of rules and guidelines that help facilitate trade by providing a common language for buyers and sellers to set the terms of their trades.