THE REVIVING TERMS OF INCOTERMS FOR THE INTERNATIONAL TRADING
WHAT ARE INCOTERMS?? If you are in the business of international trading, then you cannot ignore the term Incoterms. When it comes to the import export business, then Incoterms stand for International Commercial Terms. The Incoterms are used as the rights and responsibilities for the importers and exporters in the international trafficking of products. It is basically the international set of rules and regulations for the buyers and suppliers in the global trading business. However, year 2020 has come up with the change in the set of rules and regulations of Incoterms as well. The new rules and regulations starting from January 1, 2020 have come up. Let’s go through to the most important changes in the year 2020 for the Incoterms according to the history of the import export industry. ● THE CHANGES OF INCOTERMS The rules and regulations for Incoterms have changed in the year 2020 whic...