Incoterms
Incoterms are the International Chamber of Commerce (ICC) rules that say where costs and risks pass from seller to buyer in a sale of goods.
The current version is Incoterms 2020.
Related terms
- EXWEx WorksEx Works (EXW) is the Incoterms rule where the seller only makes the goods available at its own premises.
- FCAFree CarrierFree Carrier (FCA) is the Incoterms rule where the seller hands the goods, cleared for export, to the carrier or another party named by the buyer at an agreed place.
- DDPDelivered Duty PaidDelivered Duty Paid (DDP) is the Incoterms rule where the seller carries all costs and risks until the goods reach the named place of destination, cleared for import with duties and taxes paid.
More in Trade & Industry
- AllotmentAn allotment is cargo space on specific flights that an airline reserves in advance for a forwarder or GSA, usually under a contract with agreed rates.
- BookingA booking is a reservation of cargo space on a specific flight for an agreed weight, volume and rate.
- ConsigneeThe consignee is the person or company named on the air waybill to receive the shipment at destination.
- ConsolidationConsolidation is when a forwarder groups shipments from several shippers into one shipment under a single master air waybill (MAWB).
- FIATAInternational Federation of Freight Forwarders AssociationsThe International Federation of Freight Forwarders Associations (FIATA) is the global body that represents freight forwarders.
- ForwarderA freight forwarder is a company that organises shipments for shippers.
Belli runs air cargo for airlines, from booking to billing.
Bookings, air waybills, ULD build up and messaging in one system, built with the people who handle the freight.