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Tuesday, 31 de October de 2023
The incoterms are responsible for regulating essential aspects of the international trade. They are a set of rules with a certain degree of flexibility that define who assumes all liabilities, expenses, insurance, etc In this article we discussed about what are the incoterms and the most important that exist. Read on!
An incoterm is a tool with which to establish a common language in the world of global trade. For example, without the rules of the incoterms, it would be very difficult for a seller of Spain and the other of Japan were able to operate under the same legal system. The incoterms are treated in a clear and concise which sets out the rights and obligations of all the parties involved in the international trade.
What, then,what is an incoterm? It is a code-share all the senders and receivers are able to understand. This acronym means International Commercial Terms (Terms Of Trade, International) and, inter alia, define the responsibilities of sellers and buyers in transactions between countries. I continue to deepen!
Marked standardized rules of a set of terms and conditions common and uniform for both parties. Agreed in advance, to eliminate the ambiguity and can significantly reduce the uncertainties and conflicts. Your goal is to prevent unnecessary struggles!
Incoterms blur the borders, and to facilitate transactions between countries. Through them, encourages cooperation, and economic growth. The companies that dominate their use are presented as more striking to close deals. To know what is an incoterm and what it is is imperative to earn reputation and efficiency.
To transfer ownership of the goods at each stage helps to manage financial risks. In this way, specify who should bear the costs of transport, insurance, load and other procedures. This allows you to accurately calculate the profitability in the international context.
Learn about incoterms and keep updated about their rules is essential for professional development. At the beginning may seem complicated, but with a little guidance, you'll be fully prepared to navigate in the global context. With our International Trade Certificate of Higher Education distance learning and Transport and Logistics Certificate of Higher Education distance learning you will be trained in this important topic today. You can also complete both the titles of FP in the Double degree in International Trade + Transport and Logistics remote!
Importers, exporters, carriers, customs agents... Are a large number of professionals who are part of the optimization of the value chain. To avoid misunderstandings, calculate costs accurately, successfully negotiate and expand commercial horizons, are the objectives that are pursued with these rules. If you want to be part of international trade, incoterms are the key. These are some of the extreme main governing:
– Liabilities and obligations
The allocation of responsibilities between the seller and the buyer in an international transaction is presented as a fundamental aspect. Using a set of rules shared by all is to avoid misunderstandings and reduces the likelihood of problems arising.
– Terms of delivery and transportation
The dimensions related to the logistics are essential for planning and efficient management of resources during the transport of the goods. The terms of delivery and the place where you will complete the documentation are crucial aspects and customary in the contractual obligations between the companies.
– Customs procedures
Another central aspect of the incoterms is to ensure that the goods are to be able to move properly through the borders. This helps prevent delays and possible legal sanctions! Know perfectly the procedures and customs duties streamlines the paperwork greatly.
– Flexibility and adaptability
The incoterms can be adapted to the specific needs of the transactions. They are flexible and conform to a wide variety of commercial contexts. Do not have a rigid approach, and allow you to have greater control over transactions. Each procedure is unique and has different requirements!
To understand what is incoterms, it is necessary to have control over the meaning of acronym important. The term is EXW, which means ‘Ex Works’ in English, is the starting point in the understanding of how global transactions. Responsible for defining clearly the responsibility of the seller and the buyer in a transaction. It is understood by “factory” and records that the seller delivers the goods on its premises or at another place designated, while the buyer shall bear the risks and costs associated with the loading, transportation and management of the products.
The terms FOB and CIF are constantly arising in international trade negotiations. The two of them represent how you transferred the costs and risks!
– FOB or ‘Free On Board’ it is translated as “free on board” in Spanish. What is the meaning of FOB? Under this term, the seller is responsible to deliver the goods on board the means of transport in the port of loading or in another agreed place. Past this point, the responsibility and the risks are given to the buyer.
– CIF or ‘Cost, Insurance and Freight’, in English, which is understood as “cost, insurance and freight”. Appeals to the fact that the seller fulfills his obligation to deliver the goods on board the means of transport agreed upon, as in FOB. However, in CIF the seller is also responsible for hiring and paying the transportation insurance to the named port of destination.
The incoterm DAP or ‘Delivered At Place’, in English, translates as “delivered at place”. This concept states that the seller is responsible to deliver the goods at the place of destination and made available to the buyer. In this case, is also the seller who should pay the costs of transport to the place, but without the responsibility for the risks associated after the download. It offers convenience to the buyer when you receive the goods in their final location!
The term DDP or ‘Delivered Duty Paid’, which comes from its acronym in English, logistics is defined as “delivered duty paid”. Then, what is the meaning of DDP in logistics? Represents one of the conditions of delivery, more comprehensive and complex to understand and manage. It is a commercial agreement under which the seller assumes most of the responsibility and the costs associated with the delivery of the merchandise to the buyer. The seller bears the greatest responsibility, and it means that you have to take charge in addition to all the costs, risks, and customs formalities associated to that point, the time of delivery. It also provides the buyer great advantages in the transaction!
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