Delivery terms are a part of any commercial agreement that will state the agreements between parties on how the goods will be delivered and, as a result, outlines the point at which legal ownership changes from the seller to the buyer.
General specifications that are made on delivery terms will specify the delivery terms code and the place specification. As you understand this can have a significant impact on your cost for a delivery. Ensure you understand the costs and liabilities from delivery terms when reviewing a contract.
To make it easier Incoterms were drafted to assist international organisations from different countries to interpret and apply uniform transport agreements.
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