How many type of inco terms

Question

Accepted Answer

There are 11 types of Incoterms used in international trade.

There are 11 types of Incoterms, which are standardized international trade terms used to define the responsibilities of buyers and sellers in the transportation of goods.
Some examples of Incoterms include EXW (Ex Works), FOB (Free on Board), CIF (Cost, Insurance, and Freight), and DDP (Delivered Duty Paid).
Incoterms help to clarify the tasks, costs, and risks associated with the transportation and delivery of goods between parties.
It is important for supply chain professionals to understand and use the appropriate Incoterms in their contracts to avoid misunderstandings and disputes.

Popular interview questions of SCM Officer