Incoterms payment default

Quelle: https://iccwbo.org/resources-for-business/incoterms-2020/

A situation in which the buyer fails to make payment under a contract that uses Incoterms; Incoterms themselves do not specify payment terms or remedies for late payment. Payment default can affect contractual remedies, but the transfer of risk and cost allocation remains governed by the chosen Incoterm, regardless of payment status.

Related Terms

You might also be interested in these terms

Incoterms payment default

A concept describing the risk that a buyer will default on payment under an Incoterms contract, thereby exposing the seller to credit and payment risk...

Learn more

payment default

Payment default refers to the failure to fulfill the payment obligations under a contract in logistics, supply chain, or transport, typically by the b...

Learn more

Incoterms payment terms

A term in trade and transport law describing the payment conditions linked to a sale under the chosen Incoterms. It specifies when and how the buyer p...

Learn more

Incoterms payment term

An Incoterms payment term is a contractual payment rule linked to the use of Incoterms, specifying when and how the buyer must pay the seller for the ...

Learn more

Incoterms payment default risk

Definition: Incoterms themselves do not determine payment obligations or credit risk, but they interact with those aspects by specifying the point at ...

Learn more

ICC Incoterms®

The ICC Incoterms® (International Commercial Terms) are a set of internationally recognized trade terms published by the International Chamber of Comm...

Learn more

⚖️ ICC Incoterms 2020

Incoterms 2020 Simulator: Who bears costs & risk?

Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.

Incoterms Simulator →