How Do Incoterms Define Customs Import Duties?

Ever wondered how the international trade rules known as Incoterms impact the customs import duties you pay? This video breaks down the critical connection between Incoterms and your import duty obligations. In this insightful explanation, you'll discover: ► What Incoterms are and their fundamental role in international shipping contracts. ► How specific Incoterm rules allocate responsibilities for costs, risks, and crucially, customs clearance and duties. ► The direct link between the chosen Incoterm and who is financially liable for import duties. ► Why understanding Incoterms is essential for accurate duty calculation and avoiding unexpected costs in global trade. ► Key considerations for businesses to optimize their logistics and duty payments by selecting the right Incoterms. #Incoterms, #ImportDuties, #GlobalTrade, #Customs, #Logistics, #Shipping