QUESTION: Can a US company/importer utilize its U.S. customer’s ocean contracts under a modified DDP incoterm to allow my company to be the importer of record and clear the goods through US Customs but book on the customer’s ocean contract? My company would be the Consignee on the BOL and the US Customer will be […]
QUESTION: We are a large supplier to the automotive industry. Our SCM team is moving some of our high volume, high value Chinese imports to “Incoterms ® 2010 DDP our plant”…making the Chinese supplier the US IOR. The reason is to remove the inventory value off our books and physically out of our plant. Suppliers […]
QUESTION: 1. When an overseas buyer (whom is a trusted buyer) purchases on EXW’s terms, who is responsible for denied party screening on the carriers that pick up? 2. If they have a domestic location that will be handling the export, my company is not to be listed as the USPPI on export documents, correct? […]
QUESTION: For full container ocean shipment from Milwaukee, USA to Kaohsiung, China: • Shipper receives freight quote from ocean carrier for move from Chicago rail-yard to port Kaohsiung China • Shipper stuffs container in Milwaukee • Shipper arranges and pays trucker for drayage of the container from door Milwaukee to Chicago rail-yard • Shipper arranges […]
QUESTION: When buying DDP, what are the consignee’s risk and responsibilities from a CBP perspective? Are there any recordkeeping requirements? ========== Answers: Make sure your broker knows how to clear DDP shipments and that you are not to be the importer of record. Also, do not assume that insurance is included in DDP terms – […]
QUESTION: Does anyone have a list yet of the changes that are coming to INCOTERMS 2020? ************ Answers: It should be published in september 2019… ************ It is too soon. They won’t be released until September, to go into effect January 1, 2020. ************** The International Chamber of Commerce is releasing Incoterms 2020 in September […]
QUESTION: Our U.S. company purchases material from our sister company located in Mexico. INCOTERM 2010: – DAP City, State. Recently an inbound shipment was subjected to a Customs Inspection resulting in material being opened for sample purposes; leaving the bags contaminated and unsellable. In an attempt to reclaim our losses, we issued an invoice to […]
QUESTION: Does anyone have a list of countries that don’t allow NRI (i.e. DDP imports) or a list of those that do allow? I know Mexico doesn’t allow so we can’t send anything DDP and I believe we also had issues sending DDP to India. These are usually small parcel, promotional material, samples that we […]
QUESTION: We were recently approached by a vendor asking us to use what he is calling “modified DDP” terms. Essentially, how it works is the goods would ship with our forwarder on our ocean contracts under our ocean insurance. The vendor would handle all export and origin fees as well as being the importer of […]
QUESTION: My company are selling goods in accordance with DAT Incoterms 2010. The terminal will be an airport in the destination country. The Incoterm reference is fully indicated in the sales contract and refers to the specific point within the airport. The buyer has just informed us that they will use an external party to […]
QUESTION: We often run into situations where we have to ship products and cover all freight, taxes, duties etc. (essentially DDP). We understand that in many countries, our company cannot act as the importer of record. In these cases we ask our forwarder to assist and stress that we are not to be listed as […]
QUESTION: Will Incoterms 2020 be released in 2020 and effective Jan. 1, 2021? I am reading some publications online stating they would be effective Jan. 1, 2020, but I believe Incoterms 2010 were not effective until Jan. 1, 2011. =========== Answers: Incoterms 2020 Rules will come into force on January 1, 2020, and ill be […]
