Global Trade Relies on Clarity of Incoterms

Global Trade Relies on Clarity of Incoterms

This article delves into the core functions and significance of international commercial terms (Incoterms®), including the allocation of costs and responsibilities, the clarification of risk transfer, and guidance for participants in transportation. Commonly used Incoterms® such as FCA, FOB, FAS, and EXW, along with the slight differences between the 2010 and 2020 versions, help buyers and sellers clearly understand their respective obligations and risks in transactions.

08/07/2025 Logistics Encyclopedia
Read More
Freight Payment Terms PP and CC Shape Global Trade Costs and Trust

Freight Payment Terms PP and CC Shape Global Trade Costs and Trust

Prepaid freight (PP) and collect freight (CC) are significant terms in the logistics industry. PP indicates that the shipper has paid the freight, while CC means payment is made upon receipt. Generally, collect freight is more expensive, and its payment method is closely linked to transaction terms. Understanding these concepts is essential for managing transportation costs effectively and gaining insights into international trade.

07/28/2025 Logistics Encyclopedia
Read More
East Coast Gulf Ports Secure Sixyear Labor Deal With Wage Automation Terms

East Coast Gulf Ports Secure Sixyear Labor Deal With Wage Automation Terms

The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) have reached a new six-year agreement covering 36 ports along the U.S. East and Gulf Coasts. The agreement includes record wage increases and automation protections, averting a potential port shutdown. This provides a significant boost to labor relations and is important for the stability and development of the U.S. supply chain. The deal addresses concerns about job security in the face of increasing automation, ensuring a balance between technological advancement and workforce stability.

01/30/2026 Logistics
Read More
Commercial Invoices Vital for Global Trade Experts Say

Commercial Invoices Vital for Global Trade Experts Say

A commercial invoice is an essential document in international trade that includes key information such as the country of origin, supplier and consignee details, and product descriptions to ensure compliance with customs requirements. Accurately completing a commercial invoice helps improve customs clearance efficiency and facilitates smooth international transactions.

08/07/2025 Document Interpretation
Read More