Use Incoterms® wisely to make contracts effective, efficient

Use Incoterms® wisely to make contracts effective, efficient

Your company has mastered domestic and international trade. You have contracts for both purchasing and sales, and you have not had a problem ... yet. Trade is complex, and the agreements need to be carefully crafted to ensure you deliver or receive the right goods in the right condition and at the right time. This complexity is increased when you use trade terms other than Incoterms® or use these with limited understanding of the obligations you incur. Future articles will explore these, but let's focus on a broad view of Incoterms here.

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