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Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms When you’re negotiating a contract to buy or sell goods, Incoterms® can make it easy—at least in terms of who will pay for what transportation costs. These three-letter designations instantly indicate...

Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms Negotiating contracts to purchase or sell goods can feel complicated—but it doesn’t have to be. That’s where Incoterms® come in. These simple, three-letter designations make it easy to understand who...

Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms When you’re buying or selling goods, you’ll encounter a fair amount of industry jargon. International commerce terms, or Incoterms®, fall squarely into that category.   However, once you understand...

While your managing and optimizing your organization’s supply chain, you’ll encounter a number of terms. Some might be old, familiar friends. Others might leave you puzzled.  Enter our Approved Glossary of Supply Chain Terms.  Below, you’ll find our definitions of some of the most common supply chain terms you’ll hear, plus links to further resources if you want to dive deeper. Use this glossary to decode the lingo you’ll hear—and sound like the supply chain expert you aspire to be.  Interested in Freight & Transportation Terms? Check out our Transportation Glossary for our definitions of freight, logistics, and transportation terms.  Read More3PL – An acronym that stands for 3rd–Party Logistics. When someone...

Updated: February 27, 2023   When you’re deciding on your business’s freight mix, it’s important to get it right. If your shipments don’t move fast enough, you could end up with empty shelves and unhappy customers. However, if you pay more to move your shipments quickly, your freight costs can quickly take a bite out of your margins. Additionally, some items are simply better suited for particular freight modes, so you’ll need to choose accordingly.   If you’re deciding between air freight and ocean freight, we’ll show you how to strike the right balance between these two modes. First, we’ll walk you through the major...

Created by the International Chamber of Commerce, Incoterms are a series of three-letter designations that define responsibilities between buyers and sellers around the sale of goods, specifically related to transportation costs and liability. If you’re looking for more information on Incoterms, check out our other articles on this topic: The Complete Guide to All 11 of the 2010 Incoterms Rules Incoterms 2020 Rules: Everything You Need to Know Protect Your Bottom Line by Understanding These 5 Common Incoterms When you’re buying or selling goods, knowing your Incoterms® means that both parties to your contract will be speaking the same language—at least when it comes to transportation costs. Incoterms...