(1) Correctly understand the issues of risk and insurance In a contract concluded under the CIP terms, the seller is responsible for arranging freight insurance and paying the insurance premium, but the risk of the goods being transported from the place of delivery to the destination is borne by the buyer. Therefore, the seller’s insurance…
When customers ask for samples, it means we are not far from signing an order. When we receive an inquiry email from a customer like the following: Dear Miss Candy, How are you? Our customers are interested in your Kettle of 1203P and 1205P. Please advise me your best price. Otherwise, I’d like to know…
EXW stands for Ex Works… (named place), which means delivery at the factory (….. designated place). It means that when the seller hands over the goods to the buyer at its location or other designated place (such as a workshop, factory or warehouse), the delivery is completed. The seller does not handle export customs clearance…
International trade practices are long-established international trade norms that are often consciously followed in international trade activities. They are a series of customary practices and their interpretations with universal significance. International trade practices can avoid or eliminate different understandings or interpretations of the same issue by trade parties in different countries or regions. Therefore, they…
CPT stands for Carriage Paid to… (named port of destination), which means freight paid to (… designated destination). It means that the seller delivers the goods to the carrier designated by it and must also pay the freight for transporting the goods to the destination. The buyer bears all risks and other costs after delivery.…
Document preparation refers to the preparation of documents based on sales contracts, letters of credit, original materials of relevant commodities, relevant international practices, relevant domestic management regulations, and relevant foreign customer requirements. (1) Letter of Credit (Letter of Credit.Lc) is a written document by which a bank (issuing bank) pays a third party (beneficiary) or…
Trade terms, also known as trade terms and price terms, are terms used by both parties in international goods trading to indicate the scope of obligations, risks and responsibilities assumed by both parties. The trade terms expressed by trade terms are mainly divided into two aspects: first, to explain the price composition of the goods,…
(1) The boundary of risk division Under CPT terms, although the seller is responsible for concluding a transport contract from the place of departure to the designated destination and paying the freight, the risk borne by the seller does not extend to the destination. According to the interpretation of the 2010 Incoterms, the risk of…
FAS stands for Free Alongside Ship… (named port of shipment), which means that the seller has fulfilled the obligation to deliver the goods when he delivers them to the shipside (on the dock or in the barge) designated by the buyer at the port of shipment after completing the export customs clearance procedures. All subsequent…
1. Send sample notification, for example: Dear Benny, Nice to inform you that I have well prepared the samples per our latest E-mail communication and arranged courier this afternoon. Herewith related information for your reference. electric kettles HP-1203P,total 3 pcs Courier: by DHL,tracking no.: 9520364580, you can track the parcel here:www.dhl.com The documents you need…