Incoterms¶
Incoterms are standardized trade terms used in international transactions to define the rights and responsibilities of buyers and sellers. They establish the obligations related to the delivery of goods, the transfer of risks, and the distribution of costs between the parties involved. Incoterms specify important details, such as the point at which the risk and costs transfer from the seller to the buyer, the responsibility for transportation, insurance, customs clearance, and other relevant aspects of the transaction.
Note
By default, all 11 Incoterms are available in SotaERP:
EXW: Ex works
FCA: Free carrier
FAS: Free alongside ship
FOB: Free on board
CFR: Cost and freight
CIF: Cost, insurance and freight
CPT: Carriage paid to
CIP: Carriage and insurance paid to
DPU: Delivered at place unloaded
DAP: Delivered at place
DDP: Delivered duty paid
See also
Define an Incoterm¶
To define an Incoterm manually, create an invoice or bill, click the Other Info tab, and select the Incoterm.
Default Incoterm configuration¶
You can set a default Incoterm rule to automatically populate the Incoterm field on all newly created invoices and bills. Under , scroll down to the Customer Invoices section, and select an Incoterm in the Default Incoterm field.