When you sell a product to a foreign customer, it is essential to determine the terms of sale as part of your export pricing strategy. Many businesses use Incoterms®, which are internationally recognized commercial terms. Each Incoterm® is expressed as a threeletter acronym with the place of delivery. Incoterms® are a tool to specify who is responsible for paying for and managing various elements of the shipping process. Incoterms® also define when the risk of loss or damage to goods transfers from the seller to buyer. This video will help you understand Incoterms® but does not provide full definitions or legal advice. For more: https://www.trade.gov/knowyourincot...

October 7, 2021