The Basics: Incoterms 2010

Incoterms® are internationally accepted commercial terms that determine the buyer’s and seller’s roles and responsibilities in the sale of goods.In this 2-part series, we’ll help you develop an understanding of the main Incoterms definitions and their use and risk implications, and help you define the purpose and role of Incoterms; outline the buyer’s and seller’s responsibilities for the delivery of goods; clarify who pays shipping, handling, insurance and inland freight costs; and identify the cause and effect of various types of terms.