EXPLAINER VIDEO - Friendly, Informative, Articulate, Instructor
Description
Vocal Characteristics
Language
EnglishVoice Age
Middle Aged (35-54)Accents
North American (General) North American (US General American - GenAM)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
an international trade before the ownership of goods transfers from the cellar to the fire. There is a series of steps that can involve risks and costs, but who pays those costs at each step and if something happens to the merchandise, who's liable to address these issues? The International Chamber of Commerce created the inco terms and inco terms is a three letter abbreviation that determines the way obligations, risks and costs are shared between the seller and the buyer. These responsibilities are distributed throughout the export process. They begin right after packaging and go all the way to the unloading at a determined location. The 2020 update provides 11 inco terms that represent 11 different distributions. For example, with ex works, the costs and risks are transferred to the buyer as soon as the goods have been packed with delivered duties paid, it's the complete opposite. The seller is responsible for every step. All the other inco terms range somewhere between the two, each with its own set of pros and cons. So you should take this into account in your export strategy. If you'd like to find out more accelerate services from the Chamber of Commerce of Metropolitan Montreal offers courses to guide you through the internationalization process. Mhm