Glossary
Incoterms
Incoterms are standardised international trade terms, published by the International Chamber of Commerce, that define which party pays for and bears the risk of each stage of transport.
Where it appears in procurement
Two quotations with the same unit price can differ substantially if one is EXW (buyer collects at the factory) and the other DDP (supplier delivers duty paid). Quotations should state the Incoterm.
Example
FOB Shanghai means the supplier's price covers delivery onto the vessel at Shanghai; freight, insurance and import duties are the buyer's.
In Complyra
Delivery location and shipping cost are structured quotation fields on Complyra, which makes the delivery basis visible when quotations are compared.