INCOTERMS – How to choose them and why they are so important?

INCOTERMS are not new to the global and international market and their importance is still extremely crucial to determine the exact terms and conditions of an international sale.

Complex and simple questions of how to sell and organize the international shipment of goods are solved through 11 INCOTERMS, individualized by three-letter codes (EXW, FOB…). These codes allow buyers and sellers from different places to agree on shipping conditions. For tax and customs purposes, these INCOTERMS are very important to determine who must comply with customs formalities, if any, and who must pay consumption taxes.

This time, we are introducing a tool that we think is very interesting for all those sellers or buyers who have doubts about which INCOTERM to use in their international trade transactions. This tool provides a guide for choosing the right INCOTERM for each transaction.

You can access the tool through the following link.

https://incoterms.abh-ace.be/en/index.html

For any question or clarification on this matter, do not hesitate to contact us.