Archive for the 'Commercial Terms' Category
International Commercial Terms (INCOTERMS) – Part 2 of 2
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Published by slang January 24th, 2007 in Commercial Terms
Tabulate below are the meanings of the INCOTERMS:
1.
EXW {+ the named place}
Ex Works
Ex means from. Works means factory, mill or warehouse, which is the seller’s premises. EXW applies to goods available only at the seller’s premises. Buyer is responsible for loading the goods on truck or container at the seller’s premises, and for […]
International Commercial Terms (INCOTERMS) – Part 1 of 2
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Published by slang January 24th, 2007 in Commercial Terms
As accountants, we sometimes need to peruse/assist in sales agreement/prepare pro-forma sales quotation which entails some basic knowledge of typical commercial terms and condition.
Any confusion over the meaning used can result in a lost sale or a loss on sale. This is especially true when we are involved with international business transactions which has certain […]
