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Incortems-CMR

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

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    author's profile photo Former Member
    Former Member
    Posted on Sep 24, 2008 at 02:25 AM

    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

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  • Posted on Sep 23, 2008 at 04:58 PM

    Hi

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

    This is self explanatory

    Cheers

    Raja

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 23, 2008 at 06:52 PM

    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

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 23, 2008 at 07:37 PM

    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

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  • author's profile photo Former Member
    Former Member
    Posted on Sep 24, 2008 at 01:07 AM

    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.

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