To facilitate communication between international sellers and buyers, the ICC (International Commerce Commission) writes Incoterms which are used to define which party is responsible for arranging and paying for various segments of transportation. Additionally, Incoterms define and provide clarity as to which party (seller or buyer) has the risk of loss and at which point that risk transfers. Every ten years, there is a revision in Incoterms. Because Incoterms are important and helpful, Reilly International produces a quick reference guide at each revision to support our clients. Please contact a Reilly team member to obtain your complimentary copy.
Reilly International also offers an Incoterms 2020 seminar for our regular clients so they may better understand and use Incoterms. In the words of one of our clients: “They make a very dry topic interesting, fun and understandable”. Please contact Vickie Reilly for further information.