Can a shipment have multiple Incoterms rules..??

The Incoterms® rules are a globally-recognised set of standards, used worldwide in international and domestic contracts for trade transactions..

Following its introduction in Incoterms® in 1936, these international commercial trade terms were revised in 1957, 1967, 1976, 1980, 1990, 2000, 2010 and most recently in 2019 (Incoterms® 2020) to accommodate changes as global trade developed and evolved..

As per the International Chamber of Commerce, the recently released Incoterms® 2020 rules seeks to “offer a simpler and clearer presentation of all the rules, featuring revised language, an expanded introduction, explanatory notes, and articles reordered to better reflect the logic of a sale transaction“ and traders are encouraged to use the latest version..

A question that has come up in terms of Incoterms® is whether “a shipment can have multiple Incoterms rules”..

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What is a High Seas Sale..??

Here is an interesting topic from Asha’s Maritime News.. High Sea sales (HSS) is a sale carried out by the actual consignee (ie, the consignee shown in the Bill of … Read more here..

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