The Incoterms® (International Commercial Terms) are the universal rules of international trade published by the International Chamber of Commerce (ICC). They precisely define who — seller or buyer — bears the costs, risks, and logistics obligations at each stage of the supply chain.
A misunderstanding can lead to unexpected extra costs, supplier disputes, or uninsured goods during transport. As a procurement professional, mastering the 11 Incoterms® 2020 is essential for effective negotiation and protecting your company.
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