INCOTERMS® 2020: Article by Article Explanation

INCOTERMS® 2020 (Article by Article Explanation)
If you are dealing with your customer for a sale order with the intention that at any cost this order should be yours, without considering the additional responsibilities that are being loaded on you, which should basically be borne by the customer, then this book is written for you. Similarly, being a buyer if you are under the misconception that it would be a good idea to take control of shipments from the supplier's premises, this book will help you reconsider such decisions.

Doing business is the art of creating a win-win situation for both parties. Creating a sales contract does not ensure the proper execution of the business unless it well defines the duties of both parties. Parties enjoy doing business when they clearly understand their roles and responsibilities.

It is a belief that says that doing business simply means sending the goods to the buyer's destination and receiving payment in return for the sale. This trust is painful when disputes arise in business dealings.

In this technologically rich era, all the information on how to find the appropriate roles and responsibilities for a successful business is readily available, so why are some companies grappling with operational issues instead of focusing on business development?

You need to think seriously about why some companies are conducting their international business very well. What lessons have they learned that others haven't?

This book answers those questions.

It's about eleven very popular INCOTERMS® Rules which, if you understand and take them seriously, will give you powerful tools to build a wonderful business relationship with your business partner.

This book gives you an article-by-article explanation of each INCOTERMS® Rule that organizes your responsibilities towards your business partner.

After reading this book, you might want to change the many ongoing sale/purchase agreements or change the way you do international business. But the first change that needs to be made is to understand your specific roles and responsibilities in a business.

To help understand this important topic, several pictorial explanations are included with examples that explain the obligations of sellers and buyers. In addition, an important practical advice section has been included for each INCOTERMS Rule which is sure to give a fresh edge to your thinking while selecting a suitable Rule for trading.

This book helps you in the following matters:

To choose an appropriate INCOTERMS® 2020Rule.

To clarify the roles and responsibilities of each party.

To manage costs and liabilities.

To assess control over the shipment.

To reduce trade disputes.

Knowing the costs, risks, and responsibilities in a transaction is an essential aspect that should not be missed by exporters, importers, shipping agents, logistics personnel, bankers, working professionals, and students. This book deals with the proper interpretation of the risks of loss or damage to goods and helps in fixing the liability for such loss.