QUESTION: Regarding an Ocean Bill of Lading, when the incoterms are EXW and a US agent is coordinating the export on behalf of the foreign buyer, who should be in the Shipper/Exporter box on the BoL? I have found a recent shipment listing us, the manufacturer/seller, as the Shipper/Exporter, however we are only preparing the […]
QUESTION: I’d like feedback from the membership on how you are handling Incoterms and risk of loss. The new revenue recognition standard under GAAP has caused our Legal and Finance teams to get involved in Incoterms more than before. We use Incoterms for all shipments (domestic and international). The primary issue today is that we […]
QUESTION: We sell and ship under CIF Incoterms® to a customer in the Bahamas. Our invoice has the price of the goods and a line item price for freight. The customer has asked us to change terms to EXW instead because they have to pay duty on the CIF value. They claim that if […]
QUESTION: Question: For customs clearance, should A put FOB cost or selling price (DDP) on the commercial invoice? A: Seller in US (IOR) B: Vendor in China C: Buyer in US Terms of sale between A and B are FOB China shipping port. Terms of sale between A and C are DDP. A asks […]
QUESTION: My concern of using DDP shipments for US Export is that the USPPI now becomes the IOR in the foreign destination and is responsible for clearance. This creates risk for the USPPI from a compliance perspective because this would require a Foreign Power of Attorney (FPOA) to a broker in the foreign destination to […]
QUESTION: I understand that the Incoterms and the title transfer are not related and should be listed separately in the contract. I have a situation that I need a feedback from the ICPA members. There are 3 parties in the transaction – the U.S seller, IE company, and UK company. All partied are related. The […]
QUESTION: What incoterm (part 1 and part 2) should be used when importing to US from Mexico which puts the Mexican Brokerage cost as the vendors responsibility? ========== Answers: There are various scenarios you could use here: FCA Nuevo Laredo, Mexico – vendor delivers to the yard on the Mexican side of the border, vendor is […]
QUESTION: Could anyone in the membership advise how to use Incoterms 2010 for international shipment moved between 2 entities within the same legal entity (aka intercompany shipment)? For example, Entity A in Country A and Entity B in Country B are belong to a same legal entity in Country C. There is a shipment moved […]
QUESTION: How are other members handling the Incoterms that are for waterway transport only (I.e. FOB, CFR, CIF) when they are using multi-modal shipping? For example, CFR vs. CPT CFR terms are from port to port with risk passing at the point where the goods are loaded on to the vessel. This means that prior […]
Question: We sell products that are relatively small but have a high value. Our company has always had a policy forbidding customers from personally picking up orders from our distribution center instead of using couriers and forwarders because of the risk of domestic orders turning into undeclared international orders due to the ease of […]
Question: If my responsibility under the terms of CIP New Delhi is to ship the goods to New Delhi, how do I satisfy this if the buyer does not provide “ship to” information in New Delhi? I send these shipments through express courier small package, and need an address for a location in New […]
Question: I have questions in regard to Incoterms, and I want to make sure my understanding of the terms for these shipments is in fact correct. In short, my company receives orders from a distributor in India that sells our products (they don’t physically have any of our products in India, rather, […]
