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 …
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 …
Sea transport is a very often chosen method of transport both during import and export. Significant seaports, which will be able to accommodate larger container ships, are being created all over the world. In the article below we are presenting the largest ports in Europe. Seaport of Rotterdam – The largest ports in Europe It …
General cargo is a product of the shipping industry, which is also referred to as LCL (Less than Container Load). It is an interesting alternative for small enterprises which do not need to transport the entire container by sea , and also think that air freight is too expensive and unprofitable. Moreover, LCL from China …
The Belt and Road Initiative, also called the New Silk Road, refers to the world-famous Silk Road, which originated from the Han dynasty. China at that time traded goods with Europe – hence such a reference. Currently, the Chinese are focused on promoting a new idea. Check how they promote the New Silk Road. Joint …
The situation in the international market is continuously changing. In connection with the creation of regional free trade areas, the rules of origin of goods have acquired particular significance. Therefore, the EUR 1 Document plays an important role in international commercial transactions. It confirms the origin of the products, and in special circumstances (embargo or …
Transportation of hazardous materials due to a large number of standards and regulations is undoubtedly one of the most demanding types of road transport. In the article below, we explained what exactly ADR is and what it contains. What is ADR transport? The commonly used ADR name is an abbreviation of the French name for …