Incoterms in Odoo 17 | Odoo 17 Functional Tutorials

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"Incoterm" stands for International Commercial Terms, which are a set of standardized three-letter trade terms created by the International Chamber of Commerce (ICC). #odoo17

Incoterms are widely used in international commercial transactions to define the responsibilities and obligations of buyers and sellers regarding the delivery of goods, the transfer of risk, and the payment of freight and other charges. #odootutorials

Commonly used incoterms are:

FCA (Free Carrier): The seller delivers the goods, cleared for export, to the carrier nominated by the buyer at the named place. The risk transfers to the buyer once the goods are handed over to the carrier.

DDP (Delivered Duty Paid): The seller is responsible for delivering the goods to the named place in the buyer's country, cleared for import, and pays all applicable duties and taxes.

FOB (Free On Board): The seller is responsible for the goods until they are loaded onto the vessel at the named port of shipment. The risk transfers to the buyer once the goods are on board.

CIF (Cost, Insurance, and Freight): The seller pays for the carriage and insurance to the named destination port. The risk transfers to the buyer once the goods are on board the vessel

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