Contract Terms

The International Chamber of Commerce INCOterms 2010 have now been in use for some time.  However modern international trade still throws up many questions and issues.  Part of the problem is the interaction between #INCOterms, the sales contract and the freight contract.

This is still true even if you think you don’t have all or indeed any of these for your transaction.   Contracts can conflict with one another and even if you don’t have a written contract you do have one based on the standard trading terms and conditions of the companies you are working with e.g. BIFA terms for freight agents.  Which contract or set of conditions takes precedence?   Are they covered by different legal jurisdictions?   To avoid unwelcome complications and costly headaches check, compare and resolve these.