Terms of Sale, or Terms of Delivery are most commonly referred to as Incoterms (International Commercial Terms) these days. Terms of Sale simply must be reflected on the commercial invoice for Customs purposes.
Customs treat Delivery Terms somewhat differently from the conventional intention.
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This seemingly complex subject is rarely understood. Getting it wrong can lead to un-necessary risk which is easy to avoid.
While risk is normally of a financial nature, the administrative burdens of getting it wrong can also be overwhelming to importers.
Read More “Rand Invoicing”