Incoterms® 2020 Through the Lens of Physical Commodity Trading
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Abstract
This research document examines Incoterms® 2020 through the commercial realities of physical commodity trading, integrating legal allocation of risk and obligations with freight economics, marine insurance, logistics execution and operational decision-making. Particular emphasis is placed on FOB, CFR, CIF and DAP and the commercial optionality created through control over freight procurement, insurance placement and physical execution. The analysis connects contractual structures with physical trading economics through illustrative commercial scenarios, freight optionality frameworks and Incoterm selection matrices.
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View paper (DOI)Open access versionOpenAlexZenodo (CERN European Organization for Nuclear Research)Published 2026-08-08
Authors: Om Gupta