What is incortems in Customer master data ? I couldn't understand after reading help description?
Kindly explain with examples if possible.
Inco-terms: A codification of international rules for the interpretation of the commonly used terms in international trade.
An international commercial term (Incoterm) defines the terms of sale and the passing of risks for import and export of merchandise
Incoterms include the following:
EXW - Ex Works
FCA - Free Carriage and Freight
FAS - Free Alongside Ship
FOB - Free On Board ship
CFR - Cost and Freight
CIF - Cost, Insurance, and Freight
CPT - Carriage Paid To
CIP - Carriage and Insurance Paid To
DAF - Delivered At Frontier
DES - Delivered Ex Ship
DEQ - Delivered Ex Quay
DDU - Delivered Duty Unpaid
DDP - Delivered Duty Paid