In the event of a claim for a damaged or missing shipment, the applicable Incoterms are a key piece of information that a freight forwarder will use during the claim settlement process between the actual shipper and the consignee

Incoterms define the cost responsibilities of the buyer and seller

Incoterms are a series of three-letter codes, which indicate the obligations and liabilities of the buyer and seller

The 11 rules in the Incoterms can apply to any mode of transport