The importance of three capital letters – Incoterms

Incoterms - Shared Article

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..

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Is there a link between demurrage and Incoterms..??

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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

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Responsibility of buyer and seller in the case of cargo damage

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At some stage of shipping, many buyers and sellers have gone through this question.. There has been cargo damage – who should be held responsible.. Who was supposed to check what..??

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Shipping cargo without insurance – reader question

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Shipping your cargo without insurance.. Hmmmmm, not a very smart idea.. Several pitfalls await those who attempt this.. Here’s a question from a reader based on their historical experience.. All comments welcome on this situation..

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Incorrect cargo in container – who is responsible..??

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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 is responsible for the missing … Read more here..