Here are some common Incoterm mistakes you can avoid:

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Wrong Incoterm Selection: Choosing the right Incoterm is important as it determines the responsibilities, costs, and risks that a buyer and seller face. A wrong one can lead to confusion, higher costs, and possible disputes. To avoid such conflicts, you must understand each Incoterm, reach out to experts for guidance, and stay up-to-date with market changes.
Naming Destinations: It is a common mistake not to clearly mention the point of delivery, which leads to misunderstandings and additional costs. To avoid such conditions, you must be precise with the location, verify it with the parties, and include a detailed address.


Terminal Handling Charges: Terminal handling charges are important in ivory coast phone number list international shipping, but it is not usually clearly mentioned which party will bear these charges. To avoid such conditions, parties should communicate clearly about their responsibilities and division.
Clarifying Customs Responsibilities: One or both parties’ customs responsibilities are not always clear, leading to delays, fines, and additional costs. The responsibilities should be clarified beforehand by specifying each party’s duties, making proper documents for customs, and using appropriate Incoterm.
Ensuring Payment Alignment with Incoterm: If the payment terms do not align with the Incoterm, it might cause cash flow issues, confusion, and financial strain. To avoid such conditions, one must clearly mention payment terms and use secure payment methods to provide financial security to both parties.
List of Incoterm 2020 & Definitions
Incoterm (International Commercial Terms) are set standardised terms that are published by the International Chamber of Commerce (ICC) and define the responsibilities of buyers and sellers in international markets. The Incoterm 2020 includes 11 rules. Here’s what each means:

EXW (Ex Works): In this, the seller is not responsible for loading goods on collecting vehicles or clearing the goods for export. The buyer arranges all the transportation, including export and import clearances.