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Incortems-CMR

Former Member
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Hi All,

What is incortems in Customer master data ? I couldn't understand after reading help description?

Kindly explain with examples if possible.

Regards

Rakesh

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hello,

Inco-terms: A codification of international rules for the interpretation of the commonly used terms in international trade.

An international commercial term (Incoterm) defines the terms of sale and the passing of risks for import and export of merchandise

Incoterms include the following:

EXW - Ex Works

FCA - Free Carriage and Freight

FAS - Free Alongside Ship

FOB - Free On Board ship

CFR - Cost and Freight

CIF - Cost, Insurance, and Freight

CPT - Carriage Paid To

CIP - Carriage and Insurance Paid To

DAF - Delivered At Frontier

DES - Delivered Ex Ship

DEQ - Delivered Ex Quay

DDU - Delivered Duty Unpaid

DDP - Delivered Duty Paid

Prase

Answers (4)

Answers (4)

Former Member
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Some more illustrations to make it clear.

1) CIF : Costs, Insurance & Freight which means all three will be borne by seller.

2) C&F: Costs & Freight which means costs and freight will be borne by seller

3) FOB: Free on board which means insurance and freight will not be borne by seller.

Regards,

GSL.

Former Member
0 Kudos

Hi,

I have different view regarding incoterms maintained in customer master. The first logic would be it is related with the billing process as it comes under billing tab... then you must have heard of EX-SHWOROOM price related with vehicles.. what does that mean.. it means the price which has been displayed is the showroom prices.. so rest all charges are not included in that price... EX-SHOWROOM is also an incoterm... then another example would be FOB - free on board.. from the name itself you can get the exact idea what it could mean...

Hope I am able to put a valid point out here...

Do let me know..

Hrishi

Former Member
0 Kudos

Hello Rakesh,

INCOTERMS are the terms established by the International Chamber of Commerce.

Basically this will tell how the goods to be treated and handled between the shiptoparty and shipper at the time of delivery. If goods damage in transit who is liable and all other predefined procedures are maintained.

Regards,

Vamsi

former_member550050
Active Contributor
0 Kudos

Hi

INCOTERMS is international chamber of commerce for the goods damaged in Transit

This is self explanatory

Cheers

Raja