Incoterms (also known as trade terms or terms of shipment) clarifies the tasks, responsibilities, risks, and costs involved in the delivery of goods in domestic and international trade. Both sellers and buyers need to look into the options of the trade terms that are more favorable to his or her own needs and expenses. Here we detail the basics of common Incoterms such as EXW, FOB, CIF, DDP, and more to help you determine which one is right for you.
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