In case the named place of significance happens to be the forwarder’s warehouse or a terminal that is not a seaport or an airport, then the seller continues to be liable for the cost of loading the truck at the premises, while the carrier is responsible for unloading the truck at the m...
For example, let's say Company ABC in the United States buys electronic devices from its supplier in China and signs a FOB shipping point agreement. Company ABC assumes full responsibility if the designated carrier damages the package during delivery and can't ask the supplie...
How Does FCA Work? One of the 11 official incoterms; Free Carrier (FCA) means that the seller is responsible for delivering the cargo to a specific destination in their own country (normally anairport or freight terminal) and the buyer assumes all responsibility from this point onwards. Liabil...
The FOB terms of each shipping are written down in the bill of lading – the transport document or the receipt of a freight shipment, which holds all of the critical information for the shipper and the carrier. For example, in international shipping, “FOB [name of the port of origin]” ...
What Does DDP Mean for an Exporter? DDP indicates that the seller (exporter) assumes all the risk and transportation costs. The seller must also clear the goods for export at the shipping port and import at the destination. Moreover, the seller must pay export and import duties for goods ...
What does CIF mean in shipping? Cost, insurance, and freight (CIF) shipping is an international shipping agreement that pertains to ocean and inland waterway shipments. Under a CIF freight agreement, the seller pays all insurance, handling, and freight charges until the buyer’s order arrives ...
One can also see it in several shipping documents and trading contracts. What are Incoterms®? What does the term Ex-Works mean? When the term Ex-Works is used on a shipping document, it means that the goods that are sold by the seller to the buyer will be delivered to the buyer...
An introduction to freight shipping methods, requesting quotes, estimating rates, and preparing freight shipments.
What has your experience been with shipment terms: are you mostly quoted in FOB or EXW? Do you have any questions regarding Incoterms? If so, feel free to share and comment below. For more information about shipping, you can watch this video:Dave...
Free on Board shipping can be either “Origin” or “Destination”. When we refer to an FOB Origin, it means that as soon as the buyer pays, the carrier signs the Bill of Lading, and control (and ownership) of the goods is passed to the buyer. This means that any risks during trans...