Incoterms are rules of trade. They specify who (buyer or seller) incurs transport costs, export, and import charges or risks associated with the transport of goods. The Incoterms 2010 are currently applied; however, new ones come into force on 1 January 2020. Incoterms 2020 DDP means “Delivered Duty Paid.” The seller is responsible for organizing …
Global Freight Forwarders Conference is a prestigious high-class event taking place in Asia concerning the logistics and forwarding industry. It gathers thousands of people from hundreds of countries and five continents. The event consists of an opening ceremony, speech, forum, lunch break, One-to-One meetings, banquets, and cocktail parties. All these activities are aimed for establishing …
International Commercial Terms, also known as Incoterms, are updated every 10 years. In 2020, new rules for international commercial transactions will come into force, specifying the obligations and costs incurred by sellers and buyers. These terms are divided into several groups. D group includes a DAP rule, which stands for Delivered at Place. Incoterms 2020 …
The rules for international transport are defined by Incoterms. Due to many transport-related factors, such as risk transfer and allocation of costs, Incoterms rules are divided into groups. One of the groups, E group, indicates that the seller places the goods at disposal of the buyer at a place named in the contract. EXW Incoterms …
Port of Shenzhen is one of the largest ports in China. It has great development opportunities and, what is more, it is also one of the busiest ports in the world. It also ranks third among the largest container ports in the world (in terms of TEU). Port of Shenzhen Port of Shenzhen is located …
Regulations of sharing cost and risk between the seller and the buyer regulate Incoterms rules. It turns out that the most commonly used is FCA Incoterms. Almost 40% of contracts all over the world are concluded based on this rule. FCA is comprehensive because it applies to all modes of transport. Cost-sharing – Incoterms 2020 …
Incoterms are known as International Trade Rules. They determine the conditions for the worldwide exchange of goods. It regulates the allocation of responsibility and costs between the buyer and the seller. CIF Incoterms is one of the longest-established formulas. However, Incoterms are updated every ten years, which means that some changes are expected in 2020. …
Incoterms describe the rules of trade. It primarily defines the allocation of all factors, risk, and costs related to the transaction between the seller and the buyer. There will be changes in Incoterms from 2020. FOB Incoterms is one of the most frequently used rules in maritime transport. We describe Incoterms 2020 FOB. Let’s see …
COSCO is a Chinese state-owned company with headquarters in Shanghai. The abbreviation comes from the China Ocean Shipping (Group) Company. The company is also known as COSCO Shipping Corporation Limited or COSCO Shipping Group. It is involved in various business sectors with a particular focus on integrated logistics, maritime transport, financial services as well as …
The New Silk Road is a concept proposed by President Xi Jinping in 2013. It is a large-scale investment project involving 125 countries and 29 international organizations. These investments aim to create infrastructure for a network of land routes connecting China with Central Asia and Europe, as well as a network of maritime routes connecting …