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Liner Terms

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The next main abbreviations are adopted in the commercial practice for line transportations between ports: FIOS — Free in/out (loading/discharging is at consigner’s cost); FIFO — Free in/Free out (vide FIOS); FILO — Free in/Liner out (loading is at consigner’s cost, discharging is at liner cost); LIFO — Liner in/Free out (loading is […]

INCO-Terms

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INCO-TERMS INTRODUCTION The Incoterms rules or International Commercial terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) widely used in international commercial transactions. A series of three-letter trade terms related to common sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs and risks […]