Glossary

Incoterms

Tags: Glossary

11 internationally recognized terms that defines the responsibilities of sellers and buyers.

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Al Sharqi Shipping is a leader in the logistics industry with more than 30 years of experience in guiding and moving freight across the globe.

What are incoterms?

Incoterms (International Commercial Terms) are a set of standardized international rules and regulations for international trade transactions. These terms define the responsibilities of buyers and sellers for the delivery of goods within the framework of international commercial transactions.  

 

Incoterms include things like who is responsible for costs such as insurance, freight, and customs duties, as well as which party is responsible for loading and unloading of goods, and where the risk of loss and damage of goods shifts from one party to another. 

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