Articles under Inco Terms

4 Marine restricted Inco Terms 2020

Inco Terms used for movement of goods under Sea and Inland Water ways.   The marine restricted terms of delivery are FAS,FOB, CFR and CIF used to move goods by Sea and Inland waterways.   It is preferably used for the movement of goods by Sea and inland waterways.  However, some of the traders use FOB for all modes of transport.  Since Incoterms are rules and not Laws,  there is no harm to use.  However,  the clear description on terms of

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INCO TERMS 2020 DOES NOT COVER

  The Buyers and Sellers are suggested to use Incoterms 2020, the latest version of delivery terms for movement of goods .  Click here to read the extract of Inco Terms 2020, easily explained .   Inco Terms 2020 do not deal with:  Incoterms are not contract of sale as they are rules.  It has to be made as a part of sale of contract by mentioning specifically in the sale contract between buyer and seller, say  “The terms of delivery mentione

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Why should think about FOB Terms of delivery?

  The Buyers and Sellers are suggested to use Incoterms 2020, the latest version of delivery terms for movement of goods .   Click here to read the extract of Inco Terms 2020, easily explained . Features of FOB   FOB means Freight On Board or Free On Board. If terms of delivery of a transaction is on FOB means, the cost of movement of goods on board of ship is borne by the seller. Rest of all expenses to arrive the goods at buyer's premise has to b

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What is Duty Free Import Authorisation (DFIA) Scheme.

Duty Free Import Authorisation (DFIA) Scheme means   This post explains about Duty Free Import Authorisation Scheme   DFIA is issued to allow duty free import of inputs, fuel, oil, energy sources, catalyst which are required for production of export product. DGFT, by means of Public Notice, may exclude any product(s) from purview of DFIA. DFIA Scheme Duty Free Import Authorisation is issued to allow duty free import of inputs. In addition, import of oil and

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FOB shipments Responsibility of buyer and seller

The information provided here is part of Import Export Training course online The Buyers and Sellers are suggested to use Incoterms 2020, the latest version of delivery terms for movement of goods .  Click here to read the extract of Inco Terms 2020, easily explained . Responsibility of buyer and seller under FOB terms of shipping I have written detailed articles about Inco Terms of deliveries under Exports and Imports in this web blog. I hope yo

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