Outweighting the negatives with International shipping incoterms

 

Incoterms is not a philosophical world. International shipping incoterms is a set of rules that explain about the duties of both sellers and buyers. It is specified that who is responsible to pay for the shipment, insurance, documentation etc. EXW (Ex Works), Delivered Duty Paid (DDP),  Free on Board (FOB), CIF, Free Alongside ship (FAS)



Generally, 11 Incoterms are used currently. These are internationally accepted definitions.  FOB says that as soon as the shipment of goods leaves the seller's warehouse, the seller calls its sale complete thought the goods are in the midway of the shipping journey. There is next type of FOB where the buyer collects the product in the route from the warehouse. You just have to pay delivery charges. Be on time, the ship does not stop for anyone. CIF defines cost, insurance and freight. Here, the seller is responsible for delivering the good and get clearance for the export. He also bears minimum insurance coverage. International shipping incoterms clarify all business terms.

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