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An exploratory study of Incoterms ® knowledge and effective use in trade

Author

Listed:
  • John Vogt
  • Jonathan Davis

Abstract

The research focuses on the usage of the Incoterms® rules in practice, whether they are correctly understood and appropriately employed, how fast companies are adopting the newest version of Incoterms® and by which parts of the organisation. The results indicate broad awareness but only measured adoption of Incoterms® 2020, and significant and pervasive misuses and misunderstandings of the Incoterms® rules. The Incoterms® rules are international trade terms that define the obligations, roles and responsibilities, the risks and the costs assumed by the seller and buyer organisations in the trade transaction. These provide clarity to the buyer-seller organisation to make the trade efficient and effective. Poorly utilised or defined rules can leave one or both parties with unplanned obligations, risks, costs, and inefficiencies. The lack of formal training in Incoterms® rules, plus the large number of functions involved, increases the use of incorrect or inappropriate Incoterms® rules.

Suggested Citation

  • John Vogt & Jonathan Davis, 2024. "An exploratory study of Incoterms ® knowledge and effective use in trade," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 19(2), pages 193-212.
    • Handle: RePEc:ids:ijtrgm:v:19:y:2024:i:2:p:193-212
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