Incoterms are internationally recognized rules which define the responsibilities of sellers and buyers. They specify who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities. Incoterms carry legal weight.
All offers on Moorio are quoted with FOB (Free On Board) incoterms, which define that the supplier is liable and responsible for the goods until they are loaded ‘on board’ the vessel. Once goods are loaded, all liability transfers to the buyer.