Incoterms for exporters: Essential tips to grow your business globally.
Incoterms (International Terms of Trade) are the logistics contract that will measure the liability of each party (importer and buyer) within the import process.
In other words, to what extent each party must pay and who is liable in the event of damage or costs occurring during the import.
Sometimes we are faced with the uncertainty of the customer as to which term he needs in his productions. The solution to this choice will depend on the logistical capabilities that he has at that particular moment.
Among the most commonly used incoterms for imports from Asia are the following.
- 1. FOB, Free On Board
- 2. EXW, Ex Works
- 3. CIF, Cost, Insurance and Freight
- 4. DDP, Delivered Duty Paid
Therefore, you should always choose the Incoterm that offers you the best guarantee when you receive the goods at the final destination.
If you have any doubts about this, you can contact the Pinexports operations team to find out what we can offer you.
