Definition
Incoterms are the standardized international commercial terms published by the International Chamber of Commerce. They define where responsibility, cost, and risk transfer from the seller to the buyer in a shipment, for example EXW, FOB, CIF, and DDP.
Why it matters
The Incoterm on a transaction determines who arranges and pays for carriage, insurance, and customs, and where liability shifts. Getting it wrong changes the cost allocation and the documentation a forwarder must produce.
How TIO handles it
TIO reads the Incoterm from the commercial documents and carries it into the job record so downstream steps reflect the correct responsibility split.
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