Note: If you use DDU shipping terms, YouMUST use your OWN freight forwarder, because your goods are in your own hand. But normally your supplier will not let you use your own forwarder if you are under DDU shipping, you’d better use EXW or FOB shipping terms. If you have your goods...
Examples of Incoterms® rules How to choose the right Incoterms® for your shipment Shipping internationally? One of the key terms you’re likely to come across is “Incoterms®.” In this guide, we’ll decode what they mean, breaking them down into plain language. We’ll share examp...
The seller is not obliged to arrange insurance for pre-carriage in the export country or carriage in the import country unless this is specified elsewhere in the sales contract. Other Incoterms EXW | FCA | FAS | FOB | CPT | CIP | CFR | DPU | DAP | DDPKeep...
In this guide, we’ll explore what a commercial invoice is, its essential elements, common mistakes to avoid, and tips for creating a compliant invoice. Whether you’re new to international shipping or looking to refine your processes, this guide will help you navigate the complexities of ...
the same, under CIF terms of delivery, Insurance of goods also must be arranged by you as a seller. Once reached the cargo in New York, the buyer takes delivery of cargo after customs clearance at his own cost after paying duties or tax if any.Read also about CIP under Inco terms. ...
Additionally, the seller is also in charge of preparing any shipping documents like export permits and quotas relating to the cargo. Under FAS terms, insurance for the goods is not required from either the buyer or the seller. Since cargo has to be placed alongside the ship on FAS terms, ...
The seller also arranges and pays for insurance for the goods for carriage to the named port, but as with CIP, only a minimum level of cover is required. Get the free official ICC Incoterms® app
The term Ex-Works (EXW) figures on top of the list of Incoterms® that is published by the International Chamber of Commerce (ICC).
Additional Shipping Terms Here are further prominent terms you'll see when reviewing shipping responsibilities: What Is FOB Pricing? The costs associated with FOB can include transportation of the goods to the port of shipment, loading the goods onto the shipping vessel, freight transport, insurance...
What Does CIP Mean in Shipping Terms? CIP in shipping means that the seller is responsible for the expenses of transporting goods, including insurance, until the goods are delivered to the first carrier, whereupon the buyer assumes responsibility. In shipping, if the ship is the first carrier ...