INCOTERMS – INTERNATIONAL COMMERCIAL TERMS
Description of seller’s responsibility to Deliver
EX Works...named place
Free Carrier…named place
Free Alongside Ship…named port of shipment
Free On Board…named port of shipment
Cost and Freight …named port of destination
Carriage Paid To… named port of destination
Cost, Insurance, Freight...named port of destination
Carriage and Insurance Paid to...named place of destination
Delivered at Place …named port of destination
Delivered Duty Unpaid...named place of destination
Delivered Duty Paid...named place of destination
Yes, it is fine to add extra words to an Incoterm, to provide more precise information. For example; FOB, un-stowed; DDP, VAT Paid; ExW, Loaded, etc. It is important to note that more precision can be added to the Incoterm, and nothing else that changes the very nature of Incoterm.
Call us and we will help you, free of cost of course, in determining the variation and qualifications you will need.
Yes, Incoterms can be use in domestic transactions where both buyer and seller are residing in the same country, or same customs union, such as European Union. More precision can be added, wherever it is considered necessary.
Call us and we will help you, free of cost of course, in determining which Incoterm will work best for you.
Initially there used to be just suppliers, buyers and shipping/transportation companies. But the arrival of logistics specialists or intermediaries gave rise to these interesting and now widely used abbreviations. 1PL means First Party Logistics, 2PL is Second Party Logistics and 3PL stands for Third Party Logistics. 1PL or First Party Logistics services is provided by the manufacturer or supplier itself, for carrying the goods from their warehouse to the buyer’s warehouse/premises. 2PL is the shipping or transportation company, which own and/or operate ships, trucks, etc. Airlines offering cargo haul are also included. 2PL companies mostly own assets (ships, airplanes, trucks, railways), but may carry leased assets too. 3PL or Third Party Logistics companies do not have their own or leased modes of transportation, but they have strong linkages with 2PL companies that enable them to get preferred rates and cargo space.
Our Principal, TEU Global is a United States based 3PL Company providing efficient, reliable and cost effective services to the US based Importers and Exporters as well as international exporters to the United States.
The Freight Forwarder deals with the freight handling in the country of origin, while the overseas Handling Agent deals with freight handling after it is received in the destination country. There are large freight forwarders who have their own offices in many countries, hence they provide both freight forwarding in the country of origin and handling agent services at the destination country. These large logistic companies offering many advantages but their services are not always considered efficient and/or cost competitive, for which reason many shippers prefer independent freight forwarders and handling agents.
Member of the prestigious World Cargo Association, TEU Global is a USA based, Independent, International Freight Forwarder, with strong and reliable global agent network relationships. We provide efficient, reliable and cost effective services to the US based Importers and Exporters as well as international exporters to the United States.
Transloading is a shipping term that refers to the transfer of cargo from one mode of transportation to another, for example, from a container to delivery trucks or vice versa. When an imported container is customs cleared, it might become expensive to haul it over several hundred miles to the importer’s warehouse, who might want to have the cargo unloaded from the container at a point near the port. The cargo might then be loaded directly on trucks and hauled to the importer’s warehouse, which sometimes results in significant cost savings.
Transloading could be useful for other reasons too, like a need to inspect for damages, repackaging, shrink wrapping, palletizing, etc.; and then transported to multiple locations in trucks or delivery vans. Please contact TEU Global and learn how Transloading can help you reduce your cargo’s inland journey costs. Many of our clients are happy for using our transloading advice.
When several persons or companies in a certain country are sending boxes or cartons to one destination overseas, for example Amazon Fulfillment Center in USA, their freight forwarders will speak to a consolidation agent who bundles all cartons in a single container, so that every carton’s transportation cost is minimized.
Otherwise, sending just one carton overseas by a freight forwarder will cost a lot more. A corollary is that full container load (FCL) cargo of one shipper will always cost lowest per kg, as against the per kg cost of less than container load (LCL). A consolidator enables the cost savings to be shared between all shippers to the same overseas destination. Deconsolidation has different shades of meanings.
When consolidated shipments in one container are customs cleared, the cartons might need to be segregated per shipper for their specific handling needs even though all cartons are going to the same destination (for example Amazon Fulfillment Center in USA). Deconsolidation at the destination country is also required when overseas shipper is the same but there are multiple consignees in the destination country. For example, Amazon USA sending goods to different buyers in Barbados, which will require deconsolidation at Barbados.
Please call TEU Global if you intend to send one or few cartons overseas from inside USA, or to USA from any other country. You will love our rates, efficiency and reliability for both ocean and air shipments because we know how to make the best use of consolidation and deconsolidation.
In international trade the warehouse manager of Consignee, who may be the importer itself or a buyer of the exporter, will not welcome an unexpected loaded container arriving at their warehouse. Also, even if the container full of imported goods was expected, it will irritate the buyer or its warehouse manager if the container is floor loaded (without palletization), or the cargo tagging does not provide any storage instructions, or some of the cargo is found damaged. In all such cases, it means extra costs and hassle for the warehouse manager.
On the other hand, a smart freight delivery solution enables the buyer or his warehouse manager to save a lot of costs on receiving the cargo at the agreed time and place, undamaged, palletized, shrink wrapped, and tagged for storage instructions. Maybe not even on the containers but on trucks that are easier to handle. A smart delivery solution often results in cost and time savings for the shippers too. Call TEU Global for discussing our smart delivery solutions that are well known to save costs and achieve higher levels of reliability and efficiency.
To minimize the risk of your cargos getting selected for CBP Examinations, here is a list of measures that importers can take:
- Timely filing of ISF
- Clear and correct description of goods
- Being members of CTPAT program
- Known importer program
- Having a professional brokerage firm review data submission for accuracy
- Avoiding carriers and lanes that require transloading of goods before arrival in the US
TEU Global advises and implements different security strategies that save our clients in costs as well as valuable time.
BILL OF LADING
VERIFIED GROSS MASS
IMPORT AND EXPORT
For exporter: A license is not required to export goods from USA; however, a permit is required for some goods. The export of goods from USA is controlled by laws and Government policies to prohibit the export of certain goods either absolutely or conditionally, and adequately record USA’s international trade.
For importer: Whilst there is no general license required for importing into USA, US CBP will need to clear your goods on import. You will need to know what import permits, quarantine permits, and treatments apply to your specific category and type of imported goods, and whether they are subject to mandatory safety or information standards. If you don’t follow the correct steps and regulations, you will risk breaking the law and not receiving your imports. Call TEU Global and we will provide you all the details you need to know
DUTIES AND TAXES
FAQs ABOUT TEU GLOBAL SERVICES
Please contact 732-515-9040 or email at email@example.com for more information.