HS Code Explained: Classifying Goods and Calculating Import Duties
Every product that crosses an international border requires a code. That code tells customs exactly what the product is and how much import duty applies. The HS code is that number.
Bill of Lading Explained: Meaning, Function and Importance in International Trade
In international sea freight, one document determines everything. It determines who can collect the cargo, how ownership is transferred, and whether the bank releases payment. That document is the Bill of Lading.
Incoterm DPU Explained: Delivery at Place Unloaded and Seller Responsibilities
For most Incoterms, the seller’s responsibility ends when the goods arrive at the destination, ready for unloading. The Incoterm DPU goes one step further.
Incoterm CIP Explained: Insurance, Risk and Responsibilities in International Trade
For most Incoterms, insurance is an optional choice for the buyer or seller. The Incoterm CIP works differently. Carriage and Insurance Paid To (CIP) includes insurance directly in the agreement and explicitly places this obligation on the seller
FOB Incoterm Explained: Responsibilities in Sea Freight
FOB is one of the oldest and most widely used Incoterms in international sea freight. It is still commonly used in global trade today. At the same time, it is also one of the most incorrectly applied terms
DDP Incoterm Explained: Delivery Including Import Duties
Most Incoterms divide responsibilities between the buyer and seller. The DDP Incoterm works differently. The seller handles almost everything, including transport, export customs clearance, import customs clearance, import duties, and VAT in the destination country.
DAP Incoterm Explained: Delivery and Responsibilities
Most Incoterms transfer the risk to the buyer early in the transport process. The DAP Incoterm works differently. Under this rule, the risk remains with the seller until the goods reach the final destination.
EXW Incoterm Explained: What Does Ex Works Mean for Importers?
Importers are often confused by the different delivery terms used in international trade. A small misunderstanding can lead to delays, unexpected costs, or shipment problems. EXW, also known as Ex Works, is one of the most misunderstood terms.
CPT incoterm explained: transportation responsibilities in global trade
CPT Incoterm governs transportation costs to destination while risk passes earlier to buyer upon transfer to first carrier.
CFR-Incoterm explained: responsibilities in maritime transport
CFR Incoterm defines cost and risk in sea trade and clearly divides responsibilities between buyer and seller here.