QUESTION: The buyer arranged all transit for the cargo with our sales person, a routed transaction. I do not have a POA to file for the EEI, but I noticed the labels from the carrier have incoterms DAP 2010. Now because the buyer is paying for the freight and arranging for carriage I do not […]
QUESTION: Is it recommended or required to amend existing contracts From INCOTERMS® 2010 To INCOTERMS® 2020 =========== Answers: It depends on if you find the 2020 rules better suited or not. If you don’t amend, the rule as defined in whatever edition that is referenced still stands. =========== It is recommended but not required. All […]
QUESTION: If we want to ship DDP to customers in various countries in the EU, do we have to establish Custom brokers in each country? There is no central point in which the shipments enter the EU. ========== Don’t ship DDP. If you are the importer, you pay the VAT, but without a VAT ID, […]
QUESTION: Our China manufacturing is sending products by paying the freight; we only pay the duty & tax here in the U.S. (DAP Incoterms) However, they put FCA/FOB on their invoices. I was told that they did not include the freight in their unit cost as they cross-charge the freight expenses to our corporate in […]
QUESTION: Our China manufacturing is sending products by paying the freight; we only pay the duty & tax here in the U.S. (DAP Incoterms) However, they put FCA/FOB on their invoices. I was told that they did not include the freight in their unit cost as they cross-charge the freight expenses to our corporate in […]
QUESTION: Can a US company/importer utilize its U.S. customer’s ocean contracts under a modified DDP incoterm to allow my company to be the importer of record and clear the goods through US Customs but book on the customer’s ocean contract? My company would be the Consignee on the BOL and the US Customer will be […]
QUESTION: We are a large supplier to the automotive industry. Our SCM team is moving some of our high volume, high value Chinese imports to “Incoterms ® 2010 DDP our plant”…making the Chinese supplier the US IOR. The reason is to remove the inventory value off our books and physically out of our plant. Suppliers […]
QUESTION: 1. When an overseas buyer (whom is a trusted buyer) purchases on EXW’s terms, who is responsible for denied party screening on the carriers that pick up? 2. If they have a domestic location that will be handling the export, my company is not to be listed as the USPPI on export documents, correct? […]
QUESTION: For full container ocean shipment from Milwaukee, USA to Kaohsiung, China: • Shipper receives freight quote from ocean carrier for move from Chicago rail-yard to port Kaohsiung China • Shipper stuffs container in Milwaukee • Shipper arranges and pays trucker for drayage of the container from door Milwaukee to Chicago rail-yard • Shipper arranges […]
QUESTION: When buying DDP, what are the consignee’s risk and responsibilities from a CBP perspective? Are there any recordkeeping requirements? ========== Answers: Make sure your broker knows how to clear DDP shipments and that you are not to be the importer of record. Also, do not assume that insurance is included in DDP terms – […]
QUESTION: Does anyone have a list yet of the changes that are coming to INCOTERMS 2020? ************ Answers: It should be published in september 2019… ************ It is too soon. They won’t be released until September, to go into effect January 1, 2020. ************** The International Chamber of Commerce is releasing Incoterms 2020 in September […]
QUESTION: Our U.S. company purchases material from our sister company located in Mexico. INCOTERM 2010: – DAP City, State. Recently an inbound shipment was subjected to a Customs Inspection resulting in material being opened for sample purposes; leaving the bags contaminated and unsellable. In an attempt to reclaim our losses, we issued an invoice to […]
