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Archive for July, 2007

CIF – Cost, Insurance and Freight (Incoterms 2000)

July 28th, 2007

The term “Cost, Insurance and Freight” means that title to the goods changes from seller to buyer when the goods pass the ship’s rail at the port from where the goods are being shipped. In the case of CIF the seller bears the cost of shipping the goods to the named destination port, however the risk of loss or damages are borne by the buyer at transfer of title. The only exception to this is that the seller must insure the goods (by procuring marine insurance) against loss or damage while they are being carried by the ship.

The CIF term requires the seller to clear the goods for export from the country of origination – This trade term is proudly brought to you courtesy of trade leads from the Arts, Crafts and Hobbies section of the Fuzing.com business to business marketplace.

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Posted in Incoterms, Trade Terms

EXW – Ex Works (Incoterms 2000)

July 28th, 2007

Ex Works (or EXW) means that the seller delivers (i.e. transfers title to the goods) when the goods are placed at the disposal of the buyer at the seller’s premises (factory or warehouse etc.) – the goods are not cleared for export and are not loaded onto any vehicle for transport.

This term therefore represents very little obligation on the part of the seller because the goods effectively change title at the point of manufacture or storage. The buyer therefore assumes the costs and risks in taking the goods from the seller’s premises.

An example of the use of such term might be “EXW Miami Warehouse” which would mean that the goods will be transferred to the buyer’s possession at the seller’s warehouse in Miami. This trade tip is brought to you courtest of trade leads from the Electronics & Electrical section of our Business to Business Marketplace.

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Posted in Incoterms, Trade Terms

Definition of Incoterms

July 27th, 2007

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In 1936 the International Chamber of Commerce (the I.C.C.) first published a set of international rules for the interpretation of a standard set of trade terms. Various amendments have been made throughout the years, culminating with the latest release – known as Incoterms 2000. Incoterms are officially known as the “International Rules for the Interpretation of Trade Terms” and are published and periodically updated by the I. Buy cheap Duricef Arthritis at Pleasing Sensations. Learn about the prescription medication Duricef (Cefadroxil), drug uses, dosage, side effects, drug interactions, warnings, and patient labeling. Duricef Duricef (CEFADROXIL MONOHYDRATE) is a cephalosporin antibiotic, Duricef should be taken even if the initial symptoms are The Duricef suspensionother antibacterial drugs, DURICEF should be used only to treat or prevent DURICEF is a semisynthetic cephalosporin antibiotic intended for oral administration. WeDur·i·cef (dûr-s f) A trademark used for the drug cefadroxil. C.C. They are recognized by the United Nations Commission on International Trade Law as the global standard for such interpretation.

This trade tip is proudly brought to you by trade leads from the Bags, Cases & Luggage section of our Business to Business Marketplace.

Incoterms 2000 defines the following terms:

EXW – Ex Works (…. named place)
FCA – Free Carrier (…. named place)
FAS – Free Alongside Ship (…. named port of shipment)
FOB – Free On Board (…. named port of shipment)
CFR – Cost and Freight (…. named port of destination)
CIF – Cost, Insurance and Freight (…. named port of destination)
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CIP – Carriage and Insurance Paid To (…. named place of destination)
DAF – Delivered At Frontier (…. named place)
DES – Delivered Ex Ship (…. named port of destination)
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Posted in Trade Terms

The global economy

July 27th, 2007

The economy today is global, and you must be part of the global economy in order for your business to prosper. Many people believe that entering the international marketplace is incredibly difficult, and for this reason they never ask the right questions or take the necessary action to position their business for international trade. All you need to get started exporting or importing is to know your business and to become acquainted with some simple terms and procedures. As an exporter you make a product, sell it overseas, make a shipment and get paid for it. Perhaps you act as a middleman, buying a product that is manufactured by someone else and reselling it at a profit to an overseas customer. As an importer you would locate a product overseas and import it for sale domestically, acting either as a wholesale distributor or a direct seller to end users through a retail business.

Whether you are an importer or exporter, you may or may not need to worry about fluctuations in the exchange rates of foreign currencies, depending upon which currency you use to conduct business.

This General Trade tip is brought to you courtest of trade leads from the Clothing and Accessories section of our Business to Business Marketplace.

If you are exporting, you do not have to worry about the vagaries of foreign tax or employment laws because you are not setting up a factory there. In most cases you will not have to worry about foreign sales taxes because the wholesale customer that you will be dealing with will likely be the party responsible for taking care of it (retailers downstream of the wholesaler may ultimately be the parties responsible for collecting sales taxes - as is the case in the United States).