CIF and CIP are the only two Incoterms® that require the seller to purchase insurance in the buyer’s name. Under Incoterms® 2010 the insurance cover for […]
The main explanations of Incoterms® 2020 have remained the same, with a few key updates and changes. The main change includes a new DPU term replacing DAT, […]
The ICC has specific Incoterms rules for inland waterway and sea transport, such as Cost, Insurance, and Freight (CIF) and Free on Board (FOB). The Incoterms for sea and […]
There are specific instances that Incoterms will not cover. Incoterms do not: Address all the conditions of a sale Identify the goods being sold nor list the contract […]
The single greatest advantage of using Incoterms is the standardization and specificity of complicated international trade aspects. Having a system that eliminates ambiguity between nations has […]
Class 1 – Explosives 1.1 Substances and articles which have a mass explosion hazard. 1.2 Substances and articles which have a projection hazard but not a mass 1.3 Substances and […]
Specifications contained in this table should serve as a guide only. Equipment Interior Dimensions Door Opening Top Opening Tare Weight Cubic Capacity Payload 20′ Dry Container […]
Incoterms 2010 came into effect in January 2011. While they expand upon Incoterms 2000, both are still valid to use. Abbreviation Term Explanation EXW Ex Works […]