For the past 80 years, Incoterms® has been the cornerstone of commercial trade globally setting the basis for robust trade negotiations which involves directly or indirectly, sellers, buyers, shipping lines, truckers, forwarders, clearing agents, chambers of commerce, legal firms, courts, etc etc.. Read its history here..
An interesting question from a reader about who will get the claim amount in a CIF shipment where the cargo is damaged in transit.. The seller or the buyer..??
Read comments from an expert..
Is there a link between the demurrage charged by the shipping line and Incoterms®..??
This question was prompted by the below question from one of the readers.. Thank you Rizwan..
We have received huge shipment from our suppliers on CFR basis
In the Bill of lading the Consignee is To The order of Seller and our company name is in Notify party.
The seller has sent us the original Bill of lading 20 days after the vessel has arrived at destination port.
Hence there is a delay in clearing the goods. Can the shipping line claim demurrage charges from us or they should put claim on seller /shipper since the shipping line contract is with the seller and not us
A discussion about the rights of the shipper under CIF Incoterms..
Incorrect cargo in container – who is responsible..?? This is the gist of the question below from Bukky.. Container arrived,sealed Cleared customs in Houston, TX. Pick up the same for delivery by a trucking company to the buyer warehouse. Container unsealed, inside the container was bags full of cement/unknown stuffs instead of cooking oil. Who…
Intermodal vs Multimodal – These two terms are often used loosely and interchangeably, but the question is what is the difference..
Here, we will discuss what they mean and what they represent in day to day shipping and freight environment..
Are Incoterms® EXW rules suitable for international trade..??
Trudi asked below question about CIF Terms and who is responsible to off-load cargo from the ship – seller or buyer..?? I have a CIF shipment to Dar es Salaam. The port cranes in Dar es Salaam can not handle the tonnage of the item we are sending. Who is responsible to hire and pay a…
In a shipment on EXW terms – Who should pay for securing the cargo in the container..?? This is a question posed by a reader as below.. Here is my question : – cargo (wine in cartons, on pallets) will be exported from France to the USA – the term of sale is EXW –…
Charges that are applicable for a shipment can be classified as Ocean related charges and Landside charges.. This article discussed who pays for freight charges between the buyer and seller..