Importance of correct use of Incoterms 2010 Tianjin explosion
|
|
- Bonnie Stanley
- 7 years ago
- Views:
Transcription
1 Importance of correct use of Incoterms 2010 Tianjin explosion Neil Beadle, DLA Piper, Auckland ICNZ/IBANZ Marine Workshop 5 November 2015
2 Insert filename here Date of presentation 2
3 Tianjin 12 August 2015 Rua Hai International Logistics owns the warehouses 173 killed, 797 injured. Over a thousand firefighters were on scene, 95 of whom have died. Began handling hazardous chemicals before it obtained a permit to do so Shipping yard covered 11 acres storage of toxic chemicals concentrated in one location Chinese Maritime Code - Responsibility of carriers for containerised cargo includes at ports of loading and discharge. Potential defences: force majeure, fire, other cause not involving fault of carrier Limitation of liability Insert filename here Date of presentation 3
4 Tianjin 1,000 reasons to have cargo insurance Insert filename here Date of presentation 4
5 Incoterms pursuit of certainty International Chamber of Commerce Incoterms Universal trade language to avoid uncertainties and legal disputes Must be expressly incorporated in contract of sale Incoterms 2010 Determine: Point of transfer of costs Point of transfer of risks Process obligations i.e. who is responsible for transport documents and those costs, who pays duty, who insures the goods and on what terms Insert filename here Date of presentation 5
6 Incoterms the obligations A THE SELLER'S OBLIGATIONS B THE BUYER S OBLIGATIONS A 1 Provision of goods in conformity with the contract B 1 Payment of the price A 2 Licences, authorizations and formalities B 2 Licences, authorizations and formalities A 3 Contracts of carriage and insurance B 3 Contracts of carriage and insurance A 4 Delivery B 4 Taking delivery A 5 Transfer of risks B 5 Transfer of risks A 6 Division of costs B6 Division of costs A 7 Notice to buyer B7 Notice to seller A 8 Proof of delivery, transport document or equivalent electronic message B 8 Proof of delivery, transport document or equivalent electronic message A 9 Checking - packaging - marking B 9 Inspection of goods A 10 Other obligations B 10 Other obligations Insert filename here Date of presentation 6
7 Incoterms 11 rules - four groups Group E departure EXW ex works buyer bears all risks Group F main carriage unpaid by seller delivery = at port/to the carrier buyer bears risk of transit Group C main carriage paid by seller delivery = to carrier Cost and freight CFR to port of destination Cost, insurance, freight CIF to port of destination Carriage paid to CPT to point of destination Carriage and insurance paid to CIP to point of destination Buyer bears risk of transit Group D arrival terms DAT, DAP, DDP delivery = at various points on arrival. Seller bears all costs and risk of transit. Insert filename here Date of presentation 7
8 Marine-only Incoterms Sea and inland waterways only Incoterms: FAS free alongside ship (named port of shipment) FOB free on board (named port of shipment) CFR cost and freight (named port of destination) CIF cost insurance and freight (named port of destination) Note: CIF and FOB risk transfer now means delivered goods on board the vessel rather than the old ship s rail rule. ICC recommends FCA and CIP rather than FOB and CIF for containerised cargo as delivery to carrier is at terminal but old habits die hard. If marine terms used and no vessel, difficulty in construing passing of risk which may mean risk remains with seller. Insert filename here Date of presentation 8
9 Consequences for insurance claims Group F e.g. FOB. Delivery to buyer on board vessel at named port of dispatch, cleared for export. No obligations to insure goods Advantage to seller - only has to pay domestic transport and only on risk of loss to goods upon loading on board vessel In absence of security, risk to seller of non-payment by buyer in the event of loss to cargo during transit, and no recourse to buyer s insurance proceeds Seller s interest cover last resort as requires best endeavours to pursue buyer for default. Why sell on FOB on credit? Buyer insures cargo on FOB purchase Risk under insurance cover attaches on loading Risk prior to that attachment may be available through extension clauses cover for pre-payments/deposit paid for goods recovery? Insert filename here 5 November
10 Consequences for insurance claims Group C e.g. CIF Advantages to seller are Risk passes/liability ends on loading Control of cost and choice of insurance Local relationship come claims time - influence over the destination of claims proceeds if seller unpaid Advantages to buyer are: While buyer bears the risk of loss in transit, that loss should be insured on minimum insurance terms insurers of good repute Institute Cargo Clauses contract price +10% - from point of delivery to at least named port of destination. While buyer obliged to pay seller in any event, if seller is unpaid, a mutual interest in pressing insurer to fulfil its obligations Insert filename here Date of presentation 10
11 Fish hooks Does Commercial Invoice state Incoterms 2010? Does the Incoterm on the Commercial Invoice reflect otherwise agreed terms of the contract of sale? Objective of certainty of terms undermined. Does the local insured understand that the risk under a CIF contract rests with their customer, and that the insurance policy travels with that risk? So customer is the insured under the certificate. Does the insured understand the importance of mitigating the loss, and protecting insurer s subrogated recovery interest? Do other commercial drivers get in the way of careful claim management? Insert filename here Date of presentation 11
12 Conclusions Incoterms are a universal commercial language effective in securing certainty and avoiding legal disputes Only work as intended if expressly and accurately incorporated in contract Passing of risk should drive behaviour in the event of a claim Importance of duty to mitigate the loss and cooperation can be undermined by other commercial drivers Importance of: a common understanding of where risk lies who is the insured under the certificate/policy, and rights of subrogation of the insurer Insert filename here Date of presentation 12
13 Advert MLAANZ function Maritime trends and the future of shipping The New Zealand, Australian, and Singapore Journeys in maritime law, charting our own courses Joint production agreements in a fragile maritime boundary Update from CMI Deepwater Horizon response Free to MLAANZ members; non-members $25 Date: Tuesday, 10 November at 5 p.m. Venue: The Generator, Level 1, Customs St East, Britomart, Auckland. Register by to stacey.fraser@maritimenz.govt.nz. Insert filename here Date of presentation 13
INCOTERMS 2010. International Commercial Terms by the ICC (International chamber of commerce)
INCOTERMS 2010 International Commercial Terms by the ICC (International chamber of commerce) Who is responsible and has to pay the damage/loss?? PURPOSE OF INCOTERMS To provide a set of international
More informationDSV Air & Sea Inc. Incoterms 2010 Introduction Guidelines
DSV Air & Sea Inc. Incoterms 2010 Introduction Guidelines Contents Section Page 1 What do I need to know about Incoterms 2010? 3 2 What is Incoterms 2010 and how does it differ from Incoterms 2000? 4 3
More informationIncoterms 2010. The latest update of the Incoterms have entered into force on 01 January 2011, known as Incoterms 2010
The latest update of the Incoterms have entered into force on 01 January 2011, known as Incoterms 2010 The valid Incoterms as from 01 January 2010:- 1. EXW = Ex Works / all modes 2. FCA = Free Carrier
More informationINCOTERMS 2010 ANY MODE OF TRANSPORT. EXW (insert named place of delivery) Incoterms 2010
EXW (insert named place of delivery) Incoterms 2010 EXW The only responsibility of the seller is to places the goods at the disposal of the buyer at the seller s premises or at the named place. The buyer
More informationWhat are Incoterms? Any mode of transport: Sea and inland waterway transport (only): CIP - Carriage and Insurance Paid
What are Incoterms? International Commerce Terms (Incoterms) are an internationally recognised standard trade terms that set out buyer and seller responsibilities. Incoterms are maintained and developed
More informationINCO Terms. The seven rules defined by Incoterms 2010 for any mode(s) of transportation are:
INCO Terms INCO Terms The seven rules defined by Incoterms 2010 for any mode(s) of transportation are: EXW: Ex Works (named place of delivery) The seller makes the goods available at its premises. This
More informationINCOTERMS 2010 INTERNATIONAL COMMERCIAL TERMS
INCOTERMS 2010 INTERNATIONAL COMMERCIAL TERMS (CONTRACT OF SALE) Incoterms Key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer
More informationINCOTERMS 2015. The current set of Incoterms is Incoterms 2010. A copy of the full terms is available from the International Chamber of Commerce.
INCOTERMS 2015 An overview International Commercial Terms ( Incoterms ) are internationally recognized standard trade terms used in sales contracts. They re used to make sure buyer and seller know: Who
More informationINCO Terms LIBERTY-TERMINALS.COM INDEX
2055 Col. Cole Drive Post Office Box 2775 Georgetown, SC 29442 U.S.A. Phone: (+1 843-527-3552 Fax: +1 843-527-3554 Email: managament@liberty-terminals.com INCO Terms INDEX Ex Works (EXW)... 2 Free Carrier
More informationINCOTERMS 2010 AN INTRODUCTION
AN INTRODUCTION 1 Copyright CargocandisFürst WHAT THEY ARE Incoterms is an abbreviation of International Commercial Terms Incoterms are published by the International Chamber of Commerce First published
More informationINCOTERMS 2010 INDEX
CHAPTER 30 INCOTERMS 2010 1 CHAPTER 30 INCOTERMS 2010 INDEX Para No TOPIC Page No 30 Introduction 3 30 1 EX Works (EXW) 4 30 2 Free Carrier (FCA) 4 30 3 Free Alongside Ship (FAS) 5 30 4 Free on Board (FOB)
More informationAustralian Customs Cargo Advice
Australian Cargo Advice Incoterms 2010 Number 2010/13 This notice is to advise that the International Chamber of Commerce (ICC) has revised Incoterms 2000 to reflect changes in international and domestic
More informationINCOTERMS 2000 EX WORKS (EXW)
INCOTERMS 2000 The purpose of Incoterms 2000 is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different
More informationEXW (insert named place of delivery) Incoterms 2010
RULES FOR ANY MODE OR MODES OF TRANSPORT EX WORKS EXW (insert named place of delivery) Incoterms 2010 GUIDANCE NOTE This rule may be used irrespective of the mode of transport selected and may also be
More informationA Guide to the new Incoterms 2010 (effec7ve as of 01/01/2011)
A Guide to the new Incoterms 2010 (effec7ve as of 01/01/2011) Who pays for what? Goods move across interna7onal borders because there has been a sale involving: Seller Buyer Contract of sale should define
More information10. Incoterms The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International
10. Incoterms The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International
More informationHow To Sell Goods In The Uk
Local National International Quick Reference Guide to Incoterms 2010 Overview The Incoterms rules are an internationally recognized standard and are used worldwide in international and domestic contracts
More informationAPPENDIX V: INTERNATIONAL COMMERCIAL TERMS (INCO)
APPENDIX V: INTERNATIONAL COMMERCIAL TERMS (INCO) INCOTERMS (INternational COmmercial Terms) 2000, published by the International Chamber of Commerce (2000 pub 560), are the most commonly accepted terms
More informationTRADE AFRICA Trade Promotion Program
Incoterms 2000 In their sells contract the seller (exporter) and the buyer agree on the conditions of sale: payment on the one hand, delivery on the other. These terms determine at what precise moment
More informationINTERNATIONAL TRADE FLOW DIAGRAMS
The structure of Incoterms (Copyright INCOTERMS) : Group E Departure Main Carriage Unpaid Group C : Main Carriage Paid Arrival : EXW Ex Works (... named place) FCA Free Carrier (... named place) FAS Free
More informationIncoterms 2010. General mode of transportation
Incoterms 2010 The eighth published set of pre-defined terms, Incoterms 2010 defines 11 rules, reducing the 13 used in Incoterms 2000 by introducing two new rules ("Delivered at Terminal", DAT; "Delivered
More informationInternational Chamber of Commerce (ICC)
International Chamber of Commerce (ICC) Peak representative world business organization Established 1919 Fundamental mission is to promote trade and investment across frontiers and help business corporations
More informationIncoterms 2010 Workshop. November 2010
Incoterms 2010 Workshop AGENDA Introduction to the International Trade Terms Trade Terms: EXW; FCA; FAS; FOB; CFR; CIF Trade Terms: CPT; CIP; DAT; DAP;DDP Important Notes on Obligations, Risks and Exposure
More informationIncoterms Incoterms EXW ex works Seller ex works ex factory ex mill ex plant ex refinery ex site ex warehouse EXW
INCOTERMS Incoterms, promulgated by the International Chamber of Commerce, is an acronym for International commercial terms, and provide a standard set of definitions for trade terms (also known as delivery
More informationINCOTERMS IN TWO MAJOR GROUPS
INCOTERMS IN TWO MAJOR GROUPS Incoterms has become a famous term in the international freight world. In fact it is a word that is copyrighted by the International Chamber of Commerce (ICC). Following some
More informationIncoterms 2000. SCA Transforest
Incoterms 2000 SCA Transforest EXW Ex works at the buyers disposal at agreed place and time the time the goods are placed at buyers disposal at agreed place and time Bear all costs until at buyers disposal
More informationWorld Trade Practices Chapter 14 FCL= full container load LCL= less than full container load (door to door)
Logistics Containerized Cargo Twenty-Foot Equivalent Units (intermodal shipping container) 1 TEU 20 long container 2 TEUs per 40 long container World Trade Practices Chapter 14 FCL= full container load
More informationArticle 7 - Incoterms
Article 7 - Incoterms Incoterms 2000 have been updated by Incoterms 2010 and therefore the old post below is now redundant.. Please read the analysis about Incoterms 2010 here.. -------------------------------------------------------------------------------------------------------------------------------
More informationCFR (CNF/C&F) (Cost and Freight) has a long history in the INCOTERMS.
Incoterms - CFR/CIF CFR (CNF/C&F) (Cost and Freight) has a long history in the INCOTERMS. As an INCOTERM, seller passes the risk to the buyer when the cargo crosses the ship's rail at the port of origin.
More informationof: Frontier/Term inal/quay Shipm ent
Any mode of Seller/Exporter 'S RISKS 'S EXW of: D e s tin a tio n : RISKS B u ye r/ e r Ex Works 'S COSTS 'S COSTS EXW, Ex Works (...named place) In Ex Works, the seller/exporter/manufacturer merely makes
More informationIncoterms 2010 may be included in a sales contract if the parties desire the following:
INCOTERMS 2010 USE OF INCOTERMS Incoterms are not laws enacted by governments. Rather, they are rules agreed to by parties to a contract. Also, Incoterms are not implied into contracts for the sale of
More informationCONTENTS. E TERMS Departure Terms EXW Ex Works (... named place of delivery)... 6
2 World Trade Press World Trade Press Illustrated Guide to Incoterms 2010* 800 Lindberg Lane, Suite 190 Petaluma, California 94952 USA Tel: +1 (707) 778-1124 x 3 Fax: +1 (707) 778-1329 www.worldtradepress.com
More informationWHAT INCOTERMS 2010 RULES ARE
INCOTERMS NOTES WHAT INCOTERMS 2010 RULES ARE 11 terms of shipment and delivery provided by the International Chamber of Commerce for use in contracts for the business-to-business sales/purchases of tangible,
More informationA Practical Approach to Incoterms 2010. Presented By: Lori Koss, Logistics Supervisor for Carestream Health, Licensed US Customs Broker.
A Practical Approach to Incoterms 2010 Presented By: Lori Koss, Logistics Supervisor for Carestream Health, Licensed US Customs Broker. Carestream Health, 2014 p.2 2010 Incoterms Changes Goal was to simplify
More informationDiagram: International Commercial Terms
Diagram: International Commercial Terms INTERNATIONAL COMMERCIAL TERMS EXW FAS FCA FOB CFR CIF CIP CPT DAF DDP DDU DEQ DES Ex Works Free Alongside Ship Free Carrier Free On Board Cost and Freight (The
More informationInternational Terms of Sale: Incoterms Webinar. Miller & Company P.C. Charles W. Ballard Kansas City, Missouri June 14, 2012
International Terms of Sale: Incoterms Webinar Miller & Company P.C. Charles W. Ballard Kansas City, Missouri June 14, 2012 What are Incoterms? Incoterms are internationally agreed-upon definitions for
More informationCIF Cost, Insurance & Freight
CIF Cost, Insurance & Freight Cost, Insurance and Freight means that the seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and freight necessary
More informationIntroduction to Incoterms 2010. May 17, 2012
Introduction to Incoterms 2010 May 17, 2012 Incoterms 2010 Background Purpose General Notes Important changes for 2010 What Incoterms don t do What Incoterms aren t Recommended Usage Incoterm Groupings
More informationLogistically Speaking: Using Delivery Terms to Allocate Supply Chain Risks
Logistically Speaking: Using Delivery Terms to Allocate Supply Chain Risks Allen L. Anderson, Lawyer FEES & BURGESS, P.C. 256/536-0095; anderson@feesburgess.com Jeffrey L. Roth, Lawyer FEES & BURGESS,
More informationDLC :Documentary Letter of Credit - Issued and guaranteed by the bank for the full amount of the contract, each shipment paid seperately.
Financial Instruments TRADE DICTIONARY COMMONLY USED TRADING TERMS LC : Letter of Credit - ICC UCP500 guidelines. DLC :Documentary Letter of Credit - Issued and guaranteed by the bank for the full amount
More informationICC Guide to Incoterms 2010. By Jan Ramberg
ICC Guide to Incoterms 2010 By Jan Ramberg 33-43AvenueduPrésidentWilson 75116Paris,France 978-92-842-0226-3 Contents Introduction 7 The evolution of the Incoterms rules from 1936 to 2010 8 The ICC Model
More informationIntroduction to Incoterms 2010. May 9, 2013
Introduction to Incoterms 2010 May 9, 2013 Presenter Theresa Sekula Manager, BDP Corporate Compliance Team Joined BDP in 2005, various roles including marine procurement, operations, and compliance roles
More informationThe INCOTERMS rules and their importance
The INCOTERMS rules and their importance Lecturer Ph.D. Candidate Anca LAZĂR 1 Abstract The content INCOTERMS are a set of rules that determine the rights and obligations of the international sales contract,
More informationNegotiating with Your Supplier: Terms to Protect Your Company. Empower Your Supply Chain Seminar
6 Negotiating with Your Supplier: Terms to Protect Your Company What are Incoterms? 11 Terms of shipment and delivery for use in contracts for B2B sales/purchase goods Developed by the International Chamber
More informationINTERNATIONAL SHIPPING POLICY 2012
INTERNATIONAL SHIPPING POLICY 2012 The following is a checklist of information that must be listed on any International Purchase Order before it is accepted and processed. Name and invoicing address of
More informationCERTIFIED EXPORT SPECIALIST (CES) Case Study #005 Incoterms 2010 Study Material & Quiz
CERTIFIED EXPORT SPECIALIST (CES) Case Study #005 Incoterms 2010 Study Material & Quiz Incoterms 2010 Study Material Incoterms 2010 Rules International Commercial Terms (Incoterms ) are terms designed
More informationNew Incoterms Rules in effect January 1, 2011 / Adv. Dan Zaum*
New Incoterms Rules in effect January 1, 2011 / Adv. Dan Zaum* Export transactions generally involve international sales contracts, whose clarity of terms is crucial to avoiding disputes between parties.
More information"Cost and Freight " means that the seller delivers when the goods rail in the port of shipment.
- CFR - CIF - CIP - CPT - DAF - DDU - DDP - DEQ - DES - EXW - FAS - FCA - FOB CFR COST AND FREIGHT (...named port of destination) "Cost and Freight " means that the seller delivers when the goods rail
More informationLOGISTICS EXPERIENCE CUTTING EDGE EXPERTISE
LOGISTICS EXPERIENCE Unmatched knowledge and experience gives us the ability: to deliver vehicles safely to deliver vehicles efficiently to deliver vehicles cost-effectively to deliver vehicles to even
More informationA Brief Introduction to Logistics
A Brief Introduction to Logistics A Brief Introduction to Logistics The international freight market has a wealth and variety of transport providers to meet the needs of international trading companies
More informationCanada Export Requirements Incoterms
Canada Export Requirements Incoterms Topics of Discussion Canada export requirements Terms of sale Insurance Documentation Export Process Are there export restrictions? What are the import conditions?
More informationDifferences between 2000 and 2010 Incoterms
Want to start or grow your import/export business? Learn how from industry experts. View our training schedule Differences between 2000 and 2010 Incoterms Incoterms are revised periodically. he current
More informationFCA Free Carrier(...named place) Seller Seller Seller Seller. Seller Seller Seller Seller. Seller Seller Seller Seller
E/F Group E (Departure) EXW Exworks (...named place) FCA Free Carrier(...named place) Group F (Main Carriage Not Paid By Seller) FAS Free Alongside Ship(...named of shipment) Free On Board(...named of
More informationTamil Nadu Technology Development & Promotion Center
Financial Institutions in Food Business Day 3, Plenary Session I, 1000 Hrs-1115 Hrs, 19 th Dec 2009, MSME DI,Guindy, Chennai Presented By: H M Sathyamurthy Tamil Nadu Technology Development & Promotion
More informationIncoterms 2000. English. www.if.fi
Incoterms 2000 English www.if.fi THE TRADE TERMS OF THE INTERNATIONAL CHAMBER OF COMMERCE WHAT IS A TRADE TERM? A trade term is a combination of letters or words, which specifies certain obligations within
More informationSHIPPER S GUIDE. 18/F., 9 Des Voeux Road West,Hong Kong TEL: (852) 2559 7911, FAX: (852) 2581 3336 www.sinotrans-logistics.com
SHIPPER S GUIDE Sinotrans (HK) Logistics Limited have rich experience in shipping agency and freight forwarding and gained a lot of support and advice from our customers in the pass. Nowadays, our services
More informationCIP Carriage & Insurance Paid To
CIP Carriage & Insurance Paid To Carriage and Insurance paid to means that the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary
More informationStep 7 Transportation
Step 7 Transportation Qualifications of a Good Freight Forwarder How to Prepare an International Shipment How to Handle Small Shipments How INCOTERMS Affect Your Shipment Required Shipping Documents Why
More informationExport Essentials: Export Pricing, Quoting & Terms of Sale
Export Essentials: Export Pricing, Quoting & Terms of Sale Food Export Association of the Midwest USA & Food Export USA -Northeast Food Export Marketing Forum September 29 th, 2010 Chicago Illinois Agenda
More informationCARRIER ROUTING GUIDE
CARRIER ROUTING GUIDE The following pages are for shipments consigned to General Dynamics NASSCO, San Diego, CA. Failure to comply with these instructions, which incurs additional freight costs, could
More informationINTERNATIONAL TRADE FINANCE SERVICES
INTERNATIONAL TRADE FINANCE SERVICES DOCUMENTARY LETTERS OF CREDIT A PRACTICAL GUIDE CONTENTS LETTERS OF CREDIT SIMPLY DEFINED.............................................2 BENEFITS OF A LETTER OF CREDIT...............................................3
More informationTransport insurance Guide
Transport insurance Guide Whether you are buying or selling goods from or to the international market, there is always a risk that they may be damaged, lost or delayed in transit. Most people in the supply
More informationDDP Delivered Duty Paid
1 DDP Delivered Duty Paid Delivered Duty Paid means that the seller delivers the goods to the buyer, cleared for import, and not unloaded from any arriving means of transport at the named place of destination.
More informationIncoterms. This guideline is also posted on the UNOPS intranet: Main Page Practices Procurement How to guides
Incoterms This guideline is also posted on the UNOPS intranet: Main Page Practices Procurement How to guides Organizational Effectiveness Centre 20 ecember 2006 Contents 1 WHAT ARE INCOTERMS... 2 2 WHAT
More informationABBREVIATIONS OF INCOTERMS Alphabetic Code for Incoterms 2000
UNITED NATIONS ECONOMIC COMMISSION FOR EUROPE ABBREVIATIONS OF INCOTERMS Alphabetic Code for Incoterms 2000 RECOMMENDATION No. 5, fourth edition, adopted by the United Nations Centre for Trade Facilitation
More informationThe Law of International Trade
The Law of International Trade by Ademuni-Odeke BLACKSTONE PRESS LIMITED Contents Preface Acknowledgements TableofCases Table of Statutes Table of Statutory Instruments Table of Conventions Table of Abbreviations
More informationFruit Juice Market - 04 April 2014
Fruit Juice Market - 04 April 2014 OVERVIEW: The fruit juice market is presently in a fairly quiet phase largely due to flat demand. Supply is generally reported to be regular with the exceptions of peach
More informationWhat is Marine Insurance?
Marine 3 rd May Cargo 2011 Insurance What is Marine Insurance? Marine Insurance is the oldest Insurance in the World Marine Insurance Act 1906 - sets out the Insured, the Brokers and the Insurers Responsibilities
More informationIncoterms. ICC Official Rules for the Interpretation of Trade Terms. Entry into Force 1st January 2000
Incoterms 2000 ICC Official Rules for the Interpretation of Trade Terms Entry into Force 1st January 2000 CONTENTS Foreword 4 Introduction 5 Incoterms 2000 EXW EX WORKS 27 (... named place) FCA FREE CARRIER
More informationLearning unit manual: INCOTERMS 2000
Learning unit manual: INCOTERMS 2000 Course Contents 1. What are Incoterms? 2. Analysis Comparative Tables 3. Group E: EXW 4. Group F: FAS FCA FOB 5. Group C: CFR CIF CPT CIP 6. Group D: DES DEQ DDU DDP
More informationC. ICC INCOTERMS 2000: Report of the Secretary-General (A/CN.9/479) [Original: English]
Part Two. Studies and reports on specific subjects 599 i(i) upon issue of a certificate of Default by a third party (who may without limitation be an independent architect or engineer or a Pre-Arbitral
More informationMarine Insurance cover for Exports and Imports. Mike Rooke Taylor Patterson Corporate Insurance 11 March 2011
Marine Insurance cover for Exports and Imports Mike Rooke Taylor Patterson Corporate Insurance 11 March 2011 The MSC Napoli had over 40% of the goods uninsured A riddle, wrapped in a mystery inside an
More informationImporting & Exporting. A practical guide for businesses new to international trade
Importing & Exporting A practical guide for businesses new to international trade 2 Just starting out in international trade? Do you have questions about importing and exporting? Whatever your reason for
More informationThe 13 Incoterms - FAQs about the basics
The 13 Incoterms - FAQs about the basics Why Incoterms? Incoterms are international rules that are accepted by governments, legal authorities and practitioners worldwide for the interpretation of the most
More informationPROFILE INDEX. Introduction 3. Key Definitions 4. Features & Benefits 5. Standard Operating Procedure 6. Service Process 7. Service Undertaking 8
COMPANY PROFILE PROFILE INDEX Introduction 3 Key Definitions 4 Features & Benefits 5 Standard Operating Procedure 6 Service Process 7 Service Undertaking 8 Contact Details 9 Trade Finance Glossary 10 Page
More informationExport Payment Options. Explore Export Cardiff 2015
Export Payment Options Explore Export Cardiff 2015 The world is changing fast Source: Financial Markets 3 The benefits of exporting The opportunity currently, only about 20 per cent of UK SMEs export.
More informationEXPORT CONTRACT TEMPLATE
EXPORT CONTRACT TEMPLATE An Export Contract is entered into between and exporter and an importer belonging to two different countries for selling and purchasing of goods. This contract is used for the
More informationTrade Rules of the National Hay Association U.S. FORAGE EXPORT COUNCIL
Trade Rules of the National Hay Association U.S. FORAGE EXPORT COUNCIL Adopted May 6, 2014 All Active members and other parties using these rules are free to agree upon any contractual provisions that
More informationGuidelines for completion of APPLICATION FOR IRREVOCABLE DOCUMENTARY LETTER OF CREDIT
Guidelines for completion of APPLICATION FOR IRREVOCABLE DOCUMENTARY LETTER OF CREDIT Dear valued customer, Please find below guidelines for completion of the APPLICATION FOR IRREVOCABLE DOCUMENTARY LETTER
More informationGLOSSARY OF TRADE AND PAYMENT TERMS
GLOSSARY OF TRADE AND PAYMENT TERMS ACCEPTANCE: Under a Letter of Credit, an acceptance drawn on and accepted by a bank that thereby becomes primarily liable to pay on the maturity date. ACCOUNTS PAYABLE:
More informationElectronic Trading Platform Product - Pellets Getting Started Guide v 1.1
Electronic Trading Platform Product - Pellets Getting Started Guide v 1.1 CommErg provides this manual as is, makes no representations or warranties with respect to its contents or use, and specifically
More informationIntroduction of Three New Regulations related to Freight Forwarder in China
服 务 创 造 价 值 Introduction of Three New Regulations related to Freight Forwarder in China Dr. Yang Yuntao Contents New provisions regulating the trial of sea freight forwarding disputes Implementation Opinions
More informationUnited Insurance Brokers Ltd. Cargo claims guide
2015 CONTENTS Introduction...3 Our service...4 General...6 Prompt Reporting...6 Duty of Assured and Liability of Carriers, Bailees or other Third Parties...6 Documentation (General Cargo)...7 Documentation
More informationDOCUMENT PREPARATION UNDER LETTERS OF CREDIT
There are some universal requirements, including those listed below: DOCUMENT PREPARATION UNDER LETTERS OF CREDIT Document: THE LETTER OF CREDIT it is the correct referenced letter of it is still valid
More informationDHL Customs Services Documentation WayBill Commercial Invoice Packing List. Online Solutions DHL Import Online Express DHL ProView
INDEX Introduction What can be imported by mode required Customs process Taxes and fees Operational flow to Brazil What can be imported by to Brazil mode required Customs process Taxes and fees WayBill
More informationChapter 8 EXPORTS and IMPORT FINANCING
Chapter 8 EXPORTS and IMPORT FINANCING Form of Trade Financing Direct form Loan to finance purchases Prepayment by buyers (sometimes in the form of red clause L/C) Delayed payment by sellers Indirect form
More informationUIB GROUP MARINE CARGO CLAIMS GUIDE
UIB GROUP MARINE CARGO CLAIMS GUIDE INTRODUCTION Welcome to the third edition of our marine cargo claims guide. As with previous editions, we hope this will serve as a useful reference guide for you. We
More informationContents. List of Tables. List of Figures. Preface. About the Authors. Acknowledgements
Contents List of Tables List of Figures Preface About the Authors Acknowledgements Glossary xii xiii xv xvii xviii xix 1 International Trade and Inherent Risks 1 Background of International Trade 1 Exporters
More informationMARINE INSURANCE GUIDELINES
MARINE INSURANCE GUIDELINES What is Marine Insurance? Marine Insurance, is a contract whereby for a consideration stipulated to be paid by one interested in a ship or cargo that is subject to the risks
More informationLOOP ID - N9 1000 295 N9 Reference Identification O 1 300 MSG Message Text O 1000
850 Purchase Order Functional Group ID=PO Introduction: This Draft Standard for Trial Use contains the format and establishes the data contents of the Purchase Order Transaction Set (850) for use within
More informationMarine Cargo Insurance
Marine Cargo Insurance Proposal form Completing the Proposal form 1. This application must be completed in full including all required attachments. 2. If more space is needed to answer a question, please
More informationMarine Cargo Insurance
Marine argo The commercial wheel ontract relations Seller s bank uyer s bank Policy Sender arrier Money April 25, 2008 Svante O. Johansson argo Insurer Seller Shipper uyer Receiver oods /L Subcarrier 1
More informationGOODS IN TRANSIT GLOSSARY
GOODS IN TRANSIT GLOSSARY 82006-15 Thomas S. Hemmendinger 362 Broadway Providence, RI 02909 Tel. 401.453.2300 Fax 401.453.2300 themmendinger@brcsm.com www.brcsm.com Accessorial Charge or Accessorial Fee.
More informationECG Standard Shipping Terms
ECG Standard Shipping Terms Version 1, September 2011 This document has been prepared by the ECG Maritime & Ports Commission and it is also available on the ECG website (www.ecgassociation.eu) The ECG
More informationTENDER DOCUMENTS PROCUREMENT OF GOODS PRICE QUOTATIONS. Public Procurement Board. Accra, Ghana
TENDER DOCUMENTS PROCUREMENT OF GOODS PRICE QUOTATIONS Public Procurement Board Accra, Ghana October 2003 i Table Contents Table Contents... i Introduction and Instructions... 1 Section I. Invitation for
More informationTHE FOLLOWING ARE INSTRUCTIONS FROM THE FRONT SIDE OF SEAGATE PURCHASE ORDERS:
THE FOLLOWING ARE INSTRUCTIONS FROM THE FRONT SIDE OF SEAGATE PURCHASE ORDERS: INSTRUCTIONS: Read this entire order form, including the incorporated terms and conditions located at http://www.seagate.com/about/legal-privacy/purchasing-and-pricing/purchase-orders-legal-overview/
More informationIncoterms 2000. English. www.if.fi
Incoterms 2000 English www.if.fi THE TRADE TERMS OF THE INTERNATIONAL CHAMBER OF COMMERCE WHAT IS A TRADE TERM? A trade term is a combination of letters or words, which specifies certain obligations within
More informationAppendix E New Zealand s regulatory approach to international shipping
330 International Freight Transport Services Appendix E New Zealand s regulatory approach to international shipping This appendix examines New Zealand s approach to the economic regulation of international
More informationAPL Logistics. Free Carrier (FCA): Improving Supply Chain Performance
APL Logistics Free Carrier (FCA): Improving Supply Chain Performance FCA: Improving Supply Chain Performance 2 FCA: An Introduction Free Carrier (FCA) is an internationally accepted trade term that assigns
More informationRequired Details to be filled in the Applications:
2 5. Account Number. Cheque No. 5. Amount. Cheque Date. Drawer Name. Customer Signature & Stamp. Cheque(s) must be signed by the Drawer. 2. Cheque(s) must not be Non- Negotiable.. Cheque(s) must be Blank
More information