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INCOTERMS

Incoterms (International Commercial Terms) are commercial terms, created in 1936 by the International Chamber of Commerce in Paris.

These terms define the responsibilities and the obligations of a seller and a buyer within the framework of international contracts of trade concerning loading, transport, type of transport, insurances and delivery. It is thus here about a distribution of transport charges, first function of the incoterms. The second role of the incoterms is to define the place of transfer of the risks , that is to say who is going to support the damage (the seller or the buyer) in the event of bad execution of transport.

It is a standard regularly updated and which allows the buyer and the seller to agree quickly and without any ambiguity about their methods of the transaction . Thus, in an international sale contract, the incoterms will allow to clear up some issues:

a) To determine the critical point of the transfer of the risks of the seller to the buyer in the process forwarding of the goods (risks of loss, deterioration,robbery of the goods) allow the person who supports these risks to make arrangements in particular in term of insurance

b) To specify is going to subscribe the contract of carriage that is to say the seller or the buyer.

c) To distribute between the seller and the buyer the logistic and administrative expenses at the various stages of the process.

d) To define who is responsible for packaging, marking, operations of handling, loading and unloading of the goods or the potting and the discharge of the containers as well as the operations of inspection.

e) To fix respective obligations for the achievement of the formalities of exportation and /or importation, the payment of the rights and taxes of importation as well as the supply of the documents. There are 13 incoterms adopted by the International Chamber of Commerce.

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