Organizing the import and export of goods, both domestically and internationally, requires a laser focus on details and the ability to adapt when things don’t go as planned. There are many parts of shipping that rely on completed paperwork, transparent communication, and an understanding of the hoops that need to be jumped through.
Ironing out all these details beforehand can make the shipping and payment process much easier for import and export partners. As the governing body of international trade, the International Chamber of Commerce has laid out some regulations for the financial responsibilities of buyers and sellers. These responsibilities, called Incoterms, are in place to regulate and streamline the financial obligations of importers and exporters.