The CIF Incoterm is dedicated to maritime transport. It is one of the most used Incoterms in the world. What is the “Cost Insurance & Freight” Incoterm? Incoterms represent the obligations and responsibilities of the buyer and seller in an international transaction. Incoterms are divided into two main categories: multimodal Incoterms and maritime Incoterms. The […]
As you should know, each country or economic zone has its own currency. To begin with, you need to understand one important point: there is always a currency risk when you work with a partner that does not have the same currency as you. The question is, who bears the risk? The importer or the […]
Incoterms – “International Commercial Terms” – are rules of international trade defined by the International Chamber of Commerce every 10 years. Incoterms define the obligations of the seller and the buyer in a commercial transaction: delivery, insurance, transport, risks, and mandatory documents to settle the payment. Two main classes In total, there are 11 different […]