General average clause in shipping industry The general average concept in shipping deals with losses arising during ocean transport that need to be shared between all cargo owners shipping on…
What does CIF mean in international trade? CIF stands for Cost Insurance and Freight. It is included in Incoterms® 2020 and one of the most important terms to ever be…
Customs Record Keeping Requirements When it comes to record keeping requirements, the following can differ between country to country: Which records to keep How long to keep In what format…
Cargo Insurance In case a consignment is either lost or damaged, cargo insurance helps reimburse the concerned vendor or the customer. When is cargo insurance necessary? Moving cargo is risky.…
EXW Incoterms 2020 : A Few Quick Points Ex Works (EXW) Incoterms can be used for all modes of transport and even when there are multiple modes of transport involved…
DAP Incoterms 2020 : A Few Quick Points Delivered At Place (DAP) Incoterms can be used for all modes of transport and even when there are multiple modes of transport…
CIF Incoterms 2020 : A Few Quick Points Cost Insurance and Freight (CIF) Incoterms (or CIF Incoterms) can be used for sea transport, including inland waterway Risk transfers from seller…
FCA Incoterms 2020 : A Few Quick Points Free Carrier (FCA) Incoterms can be used for all modes of transport. Risk transfers from seller to buyer when the carrier collects…
DDP Incoterms 2020 : A Few Quick Points Delivered Duty Paid (DDP) Incoterms works on any type of transport (air, land, rail, sea, etc.) DDP can also be used for…
CIP Incoterms 2020 : A Few Quick Points Carriage and Insurance Paid To (CIP) Incoterms can be used for all modes of transport and even when there are multiple modes…
