Odoo 11 Incoterms

What are Incoterms?

The Incoterms or International Commercial Terms are a series of pre-defined commercial terms that set between the seller and the buyer. The main purpose is for the sake of clarity of their trade. The Incoterms were created in 1936 by the International Chamber of Commerce (ICC). The purpose of Incoterms is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Frequently, parties to a contract are unaware of the different trading practices in their respective countries. The use of Incoterms eliminates inconsistencies in language there by giving all parties the same definition of specific terms within a trade agreement. As a result, the risk of problems during shipment get reduce. Since all parties clearly understand their responsibilities in performing trade under the given contract. In this blog we discuss in detail on Odoo 11 Incoterms.

In Odoo, the incoterms in sales define the same meaning. It gives a security of contract / agreement while there is any trading between the buyer and seller. The incoterms is applicable for both domestic and foreign trading.

One need to enable the incoterm option in the sales for using it.

You can find the incoterms under the shipping tab.

Go to Sales --> Configuration -->Settings ---> Shipping--> Incoterms

Tick the check box corresponding to the incoterms.

 

You an create a new incoterm in Odoo either by cilcking on the link incoterms under the check box then hit Create or Go to

Inventory --> Configuration --> Warehouse Management-->Incoterms -->Create.

 

Provide any valid Name and a unique code in the upcoming dialog box and then click Save.