About procurement: Freight Prepaid related incoterm based on ICC amend. 2020.

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Abstract “Freight Collect” & “Freight Prepaid” are two shipping terms, which indicate whether consignee has the primary liability to the carrier for the shipping charges in a procurement process. EXW, FCA,  FOB, FAS etc Incoterms are used for “Freight Collect” shipment. Now, we would like to discuss about incoterms which can be used for different types of  “Freight Prepaid” shipments based on Incoterms of Sept 2019 published by ICC, also called 2020 incoterm amedment. Keywords:International Procurement, Freight Prepaid,Freight collect,Incoterm,ICC, Amendment 2020. Article Introduction Transportation is one of the Drivers of Supply Chain. The term Freight denotes transportation charges. The International…