In the last decades, we have seen an incredible expansion in the scope of globalization. Manufacturing overseas, sourcing from abroad and moving all of these goods internationally has been booming!
Beyond our everyday communication with our far-flung business partners, we need a language of international trade and commerce, because even a small variation in wording can have a major impact on numerous aspects of a business agreement.
Shipment delays, cost penalties, conflicts and litigation may arise from misunderstandings in these agreements.
We have always said that incoterms are the foundation of international trade and logistics.
Incoterms are intended to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods.
The articles we publish at Logistics with Lenny try to help you better understand their meaning and how to use them in your professional lives.
We have prepared a quiz so you can test yourself!
Take the quiz HERE.
Let us know how you do and any advice you can provide to our readers!
Keep learning…keep moving forward!