Any functions on payment of goods under Inco Terms?
The Inco terms explains about movement of goods from one place to another. Inco terms designed by ICC elaborates ; who arranges carriage, export customs clearance, documentation on exports, main carriage, import documentation, import customs clearance, duties and taxes payment, insurance of the goods, defining the meaning delivery under movement of goods, risks and costs sharing between buyer and seller at different points between buyer’s place and seller’s place, loading and unloading of goods, checking security related risks and costs etc.
However, Inco Terms rules drafted by International Chamber of Commerce does not deal on payment of goods, ownership of goods and stowage of goods.
So the payment of goods is not dealt with Inco terms as per the rules of ICC.
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