Question: We will have a high value import, for example, $5MM and the incoterm isCFR, which includes freight costs. Usually the shipper breaks out thefreight value on the commercial invoice, but that’s the extent of our“evidence” of freight value. If we were audited on this entry would thefreight cost simply noted on the commercial invoice […]
Question:Has anyone put together a summary / training for the new Incoterms 2010 effective in January 2011, that they would be willing to share?
Question: If a company ships using DDP terms, arrangements can be made in manycountries for the foreign exporter to be the official importer in thedestination country [US: FIOR / CA: NRI, etc]. An entry is submitted inthe shipper’s name and all charges [fees, duty, taxes] are billed backto the shipper. If arrangements are made for […]
Question: It is my understanding of Incoterms is that it defines the transfer of risk and liability of products, not who acts as the importer of record. I have a situation where our customer placed a purchase order from my sister company in Germany. Terms of sale were DDP. As they caused the importation to […]
Original Question: Need some clarification from the membership. Under Incoterms 2000 Carriage Paid To (named place) there is a clause that states “If subsequent carriers are used for the carriage to the agreed destination, the risk passes when the goods have been delivered to the first carrier”. The question is if I contract with an […]
Question:Please help me make some sense out of the following transaction (so far I am failing): The deal was made so that a related foreign supplier sells goods to a US buyer FOB foreign port. The US buyer re-sells these goods to their US customer FOB foreign port. The US customer is responsible for collect […]
I have been asked to look into the possibility of shipping DDP excluding VATto Germany. Can anyone help me with any non-resident importer requirementsthat I should be concerned with?
Buyer purchased machinery (2 pieces) from a 3rd party intermediary on DDP terms * Buyer’s door is on US West Coast * Cargo was imported from Italy to an Intermediary’s facility for inspection. Intermediary (Seller) is located in US East Coast. * The […]
Question:Our Corporate overseas mandated that all Inter-company sales be made under CPT terms. This is regardless of destination country or experience of the origin subsidiary company. My suggestion had been to align the incoterm of the inter-company sale to match the Customs valuation base of the country where the goods would be entered. For example […]
Need some clarification from the membership. Under Incoterms 2000 Carriage Paid To (named place) there is a clause that states “If subsequent carriers are used for the carriage to the agreed destination, the risk passes when the goods have been delivered to the first carrier”. The question is if I contract with an ocean carrier […]
Question:Need some clarification from the membership. Under Incoterms 2000 Carriage Paid To (named place) there is a clause that states “If subsequent carriers are used for the carriage to the agreed destination, the risk passes when the goods have been delivered to the first carrier”. The question is if I contract with an ocean carrier […]
Question: I need to train our International Sales Department on Incoterms 2000 and howthey apply to sales contracts. Does anyone in the group have a clearpresentation they could share? I would very much appreciate it.
