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Review INCOTERMS 2020 | Export Import Sales Contract IFOB- CIF-CFR

Review INCOTERMS 2020 | Export Import Sales Contract IFOB-CIF-CFR

For all Export Import Startup Needs to understand about Incoterms and today we will review INCOTERMS 2020 I Export lmport Sales Contract IFOB - CIF-CFR
International trade transactions are dynamic. A sale and purchase activity that crosses the country's territorial boundaries which are basically owned by two parties, namely the seller (exporter) and buyer (importer). However, in practice, it also involves other parties. Who are they? Banks, shipping companies, customs, surveyors, to government departments.

In addition to the parties involved, international trade also has a dynamic circle at a more fundamental level, namely the form and method of buying and selling itself. There are several options that can be taken by the seller and buyer, starting from the type of unsecured transaction from the bank (non-L/C) such as open account, advance payment, consignment, and documentary collection; to transactions involving banks as guarantors, such as letters of credit (L/C).
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