Struggling to choose the right incoterm when importing to the UK?
Incoterms are the standards used in international sales. They are voluntary recommendations that can be applied by importers and exporters to define their obligations and responsibilities in an operation.
In a commercial Invoice, it is necessary to specify which edition of the Incoterms is being used. The most common is the version published by the International Chamber of Commerce (ICC) in 2010.
The picture above shows the most common incoterms used in international trade.
The most popular when importing from European Union are EXW (Ex-works)
EXW is used by companies with little export experience and little knowledge of the logistics chain. It is also used if there is little information about the buyer or if the destination is an unknown country or one that may hinder the entry of certain goods. Or is just in a meltdown after Brexit or another disaster.