Incoterms (International Commercial Terms) is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law.
3 incoterms accepted by PostShiping:
CIF (Cost Insurance & Freight)
Seller arranges and pays for transport to named port. Seller delivers goods, cleared for export, loaded on board the vessel.
CFR (Cost and Freight)
Seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel is transferred from the seller to the buyer when the goods pass the ship’s rail in the port of shipment.
FOB (Free On Board)
Use of this rule is restricted to goods transported by sea or inland waterway. In practice it should be used for situations where the seller has direct access to the vessel for loading, e.g. bulk cargos or non-containerised goods.
Seller delivers goods, cleared for export, loaded on board the vessel at the named port. Once the goods have been loaded on board, risk transfers to the buyer, who bears all costs thereafter.