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Incoterms: well established terms to agree on delivery conditions.

Incoterms (International Commercial Terms) are a standardized set of international trade terms used in contracts for the sale of goods.

The main objective of Incoterms is to define the responsibilities and obligations of buyers and sellers regarding the delivery, transport, risk and cost related to the shipment of goods.

These terms are created and maintained by the International Chamber of Commerce (ICC), and regularly updated to reflect changes in global trade practices.

If during the sourcing process we receive quotations with different Incoterms, we should be aware of the additional cost associated with different Incoterms and consider this additional cost in the final TCO (Total cost of ownership) comparison, the base of sourcing decisions.

If you are interested in investing in an exceptional team and increasing your company’s profitability, we encourage you to consider our next training focused on improving strategic purchasing skills. Additionally, please feel free to contact us for more information.

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