Incoterms, which stands for International Commercial Terms, need to be understood by all involved in buying and selling goods because they set up responsibilities of the buyer and seller.
These terms generally are updated every ten years to reflect changes in the international trade system. Several changes have been made in Incoterms 2020, which means your insured's cargo could be at risk if you aren't familiar with the changes in shipping terminology and point-of-risk transfer.
Download our Incoterms 2020 guide to keep on hand when determining shipping-related insurance needs.
You can also trust Sentinel Marine Underwriters to navigate the terminology and dive into the details. As experts in the marine cargo space, we know what to look for and what questions to ask. We also offer "all risks" terms, securing against any named-peril surprises.