You can agree to the following matters by means of an incoterm:
- Who is responsible for transport insurances, licenses, authorisations and other formalities?
- Who provides the transport and up to where?
- When will the risks and costs of the delivery transfer from the seller to the buyer?
There are 11 incoterms: 4 are intended specifically for transport by water. The other 7 apply to all kinds of transport (multimodal transport).
Incoterms multimodal transport: