What are Incoterms?

Anyone in Supply Chain has likely heard the phrase “Incoterms”, certainly if you are involved in Freight and Logistics management, or perhaps in Finance.

Even if you haven’t heard of “Incoterms” you are more likely to have heard of terms like “Ex Works”, “Free on Board” or FOB, or “DDP” (Delivered Duty Paid, amongst others. These, and more, are called Incoterms.

But for those who are unfamiliar with all of these acronyms and definitions they can be quite confusing and difficult to understand.

In this article we will endeavour to provide more clarity on what Incoterms are.

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