What is Incoterms in SAP (SBO - SAP Business One)?

SAP Term: Incoterms

• Component: SBO

• Component Name: SAP Business One

• Description: The official rules of the International Chamber of Commerce ICC regarding how to define trade terms. The ICC in Paris developed the INternational COmmercial TERMS INCOTERMS as a uniform set of rules that are used to help define costs, risks and obligations of buyers and sellers in international trade. The abbreviations for Incoterms 2000 include the following: EXW: Ex Works FCA: Free Carrier FAS: Free Alongside Ship FOB: Free On Board CFR: Cost and Freight CIF: Cost, Insurance and Freight CPT: Carriage Paid To CIP: Carriage and Insurance Paid To DAF: Delivered at Frontier DES: Delivered Ex Ship DEQ: Delivered Ex Quay DDU: Delivered Duty Unpaid DDP: Delivered Duty Paid

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• Key Concepts: 
  Incoterms are a set of international trade terms developed by the International Chamber of Commerce (ICC). They are used to define the responsibilities of buyers and sellers in international transactions. Incoterms are used to determine who is responsible for the costs associated with transporting goods, such as insurance, taxes, and customs duties. In SAP Business One (SBO), Incoterms are used to define the terms of sale for goods and services.
  
  How to use it: 
  In SBO, Incoterms can be used to define the terms of sale for goods and services. To set up Incoterms in SBO, go to Administration > Setup > Business Partners > Incoterms. Here you can add, edit, or delete Incoterms. Once you have added an Incoterm, it will be available for selection when creating a sales order or invoice. 
  
  Tips & Tricks: 
  When setting up Incoterms in SBO, make sure to select the correct Incoterm for each transaction. This will ensure that all parties involved in the transaction understand their responsibilities and obligations. Additionally, it is important to keep track of any changes in Incoterms as they may affect the cost of goods or services. 
  
  Related Information: 
  For more information on Incoterms and how they are used in SBO, please refer to the SAP Business One Help Portal. Additionally, you can find more information on international trade terms on the International Chamber of Commerce website.