Most professions love their jargon, personally I hate jargon I feel it’s use to confuse or make people feel superior as such I always try and explain things in simple plain English. However there are times when you cant avoid a bit of jargon and import and transportation is one of these areas. So import and transportation have their own repertoire of jargon known has INCOTERMS refer to the set of international rules for the interpretation of the chief terms used in foreign trade contracts first published by the International Chamber of Trade in 1936 (now International Chamber of Commerce) and amended in 1953, 1967, 1976, 1980, 1990 and 2000. Although the use of INCOTERMS is optional, they can reduce difficulties encountered by importers and exporters.
So now you know what they are and that they are optional that’s jump into some of the common abbreviations and terms used and outline their actual interpretations. Caveats this list is no exhaustive, some of these terms are widely misconstrued ie see FOB.
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