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THE INTERNATIONAL TRADE TRANSACTION
THE INTERNATIONAL TRADE TRANSACTIONTHE BASIC MODEL 1. Negotiate Terms of Sale 2. Issue Purchase Order 3. Ship Product to Importer 4. Send Documents 5. Clear Customs & Deliver Product 6. Make Payment
THE INTERNATIONAL TRADE TRANSACTION1. NEGOTIATE TERMS OF SALE Final Agreement Includes price - packaging quality - insurance quantity time & place of delivery payment method inspections
THE INTERNATIONAL TRADE TRANSACTIONADDITIONAL CONTRACT PROVISIONS 2. ISSUE PURCHASE ORDER 3. SEND DOCUMENTS: SHIPPING AND DELIVERY INSTRUCTIONS: Shipping Deadline Excusable Inexcusable
THE INTERNATIONAL TRADE TRANSACTIONDELIVERY INSTRUCTIONS INCOTERMS 6 GROUPS OF INCOTERMS EX POINT OF ORIGIN ex works ex factory ex mill ex warehouse SELLER MUST BUYER MUST
INTERNATIONAL TRADE TRANSACTIONF.O.B. (free on board) ownership transfer evidenced by a clean bill of lading SELLER MUST: BUYER MUST:
INTERNATIONAL TRADE TRANSACTIONF.A.S.(free alongside) seller’s obligations are fulfilled when goods place alongside ship; buyer is required to clear goods for export. SELLER MUST: BUYER MUST:
INTERNATIONAL TRADE TRANSACTIONC & F (cost & freight) seller’s price includes cost of transport but NOT insurance SELLER MUST: BUYER MUST:
INTERNATIONAL TRADE TRANSACTIONC.I.F. ( Cost, Insurance, & Freight) SELLER MUST: BUYER MUST: EX DOCK
INTERNATIONAL TRADE TRANSACTIONPACKAGING FOR EXPORT PURPOSE UNIT LOAD SYSTEM SHIPPING MARKS
INTERNATIONAL TRADE TRANSACTIONEXPORT SHIPPING DOCUMENTS DOCUMENTATION Two Categories SHIPPER’S EXPORT DECLARATION EXPORT LICENSE MARINE INSURANCE POLICY CERTIFICATE OF ORIGIN CONSULAR INVOICES
INTERNATIONAL TRADE TRANSACTIONBILLS OF LADING FUNCTIONS TYPES Straight Order other
Incoterms: International Commercial Terms are contract terms that show transport obligations, costs and risks. When we buy, it tells us: If we have to.
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INCOTERMS Incoterms – what are they and what can they do for you Incoterms is an abbreviation of International commercial terms It is a vital term.
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INCOTERMS 2000 First published by the ICC in 1936 ICC (International Chamber of Commerce) Official Rules for the Interpretation of Trade terms. Purpose.
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Incoterms. Introduction Universally recognised set of definitions of international trade terms Recognised by courts and other authorities Define the trade.
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CHAPTER VI INTERNATIONAL TRADE TERMS
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INCOTERMS 2000 ICC (International Chamber of Commerce) Official Rules for the Interpretation of Trade terms. Purpose is to provide a set of international.
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Purchase and Sale of goods A Contract Terms and Conditions of Sale Forms of Credit Hire Purchase Consumer Protection Means of Consumer Protection.
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