INCOTERMS are established by the International Chamber of Commerce (ICC) and recognised globally in the logistics industry. They define the responsibilities in terms of trade between the buyer and the seller to remove any uncertainties in obligations to carry out the movement of cargo for international trade.
INCOTERMS governs transport management and is defined by a 3-letter acronym which is intended to outline the tasks, risks and costs associated with delivery of goods.
FPS® use INCOTERMS in their logistics management and the following table below, which outlines the acronyms, buyer and seller obligations and charges in accordance with current guidelines.
