We have DDU terms with a customer, but they are requesting that we change the terms to CPT. What benefit will this provide the buyer? Are we as the seller at a greater risk. I have read through both in Incoterms 2000 but can only see advantage to me the seller, would the membership share […]
1 The ICC has asked for comments to the following two questions: 1. Is there in your experience in the worldwide market a trade term in common use that is not currently included in Incoterms 2000? 2. Is there in your experience in the worldwide market a trade practice in common use that conflicts with […]
If we are purchasing an item CIP Houston from a supplier and the goods arrive damaged who’s responsibility is it to follow through with the insurance claim, the seller or buyer. Incoterms only state the seller must provide cargo insurance
Has anyone in the membership switched from the use of UCC Delivery Terms to ICC Incoterms, 2000 for domestic purchases? Does anyone in the membership have a presentation on the UCC Delivery Terms when used for domestic purchases?
I have a question about the proper delivery terms for a Vendor Managed Inventory situation. We issue contracts to US based food ingredient brokers to source ingredients from foreign suppliers on a VMI basis where the broker/supplier will keep 8-10 weeks of inventory in a US warehouse for us to draw down as needed. The […]
QUESTION ON FCA SUPPLIERS DOCK REVENUE RECONGNITION: We have received the following guidance from our auditors in regards to when we can recognize revenue under the Incoterms FCA – Supplier’s (Company) Warehouse Dock. “We (the auditors) do not believe that it is appropriate to recognize revenue under FCA terms until the items have been delivered […]
We have received the following guidance from our auditors in regards to when we can recognize revenue under the Incoterms FCA – Supplier’s (Company) Warehouse Dock. “We (the auditors) do not believe that it is appropriate to recognize revenue under FCA terms until the items have been delivered to the named place, and have been […]
Has anyone in the membership switched from the use of UCC Delivery Terms to ICC Incoterms, 2000 for domestic purchases? Does anyone in the membership have a presentation on the UCC Delivery Terms when used for domestic purchases?
Recently, I am running into issues on a daily basis of samples coming in to the US on a DDP basis. The majority of these samples need a formal entry due to the value. The issue is that these samples are coming in thru brokers I will not sign a POA to clear the shipment. […]
I need help in determining what governs ownership in a sale. Do the incoterms cover the ownership as well as the responsibility?
If the standard terms and conditions say that we ship origin, but the Incoterm does not define the same what over-rides what? The invoice with the T & C’s, a contract, the commercial invoice? What if it is a US domestic shipment and it just says FOB not FOB origin?
Question: Question on proper incoterms I know I could wait until next month to hear from the experts but I?m hoping to get an answer soon. I need clarification to which Incoterm is best. I am US exporter making my product available at my warehouse for my customer. My customer is responsible from my door […]
