Incoterms are a series of pre-defined commercial terms that were first published in 1936 by the International Chamber of Commerce (ICC). These terms are primarily used to define the tasks, costs and risks associated with the transportation of goods. They are periodically updated, eight times in the last 77 years, and we are now working with the newest version – Incoterms 2010.
Incoterms are accepted by legal authorities, governments and practitioners worldwide. They are intended to reduce or remove any uncertainties that arise from the rules of different countries.
Anyone who has dealt with Incoterms can tell you that it can be confusing. EES Shipping are here to help with a guide to Incoterms 2010. This chart clearly indicates where the buyer or seller’s responsibility lies in the freight forwarding chain.
There are also specific descriptions of the most commonly used Incoterms. This is a useful tool when dealing with overseas suppliers and or purchasers.
While this is a helpful tool, EES Shipping encourages anyone who is unsure, or has any general questions surrounding Incoterms 2010, to give us a call or send an email our helpful sales team.