Understanding Incoterms

What you should watch for when buying equipment

James Waite
Question: I’m buying some equipment, and the shipping terms in the purchase agreement refer to “EXW Incoterms 2020.” I’m generally familiar with “Incoterms,” but I don’t really have a lot of time to study what each one means. 

Buying assets or equity

Either way, you could be required to assume the seller’s liabilities

James Waite
Question: I’m considering buying a competing equipment dealership. I’m being told that I should buy the assets rather than the equity of the target business because, if I do that, my company won’t assume any of the seller’s liabilities. Is that true?

The case for a bill of sale

A rental contract isn’t enough

James Waite
Question: I sell new and used equipment. I usually don’t have buyers sign a separate contract or bill of sale because I have a provision in my rental contract that I believe covers sales.

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