Types of letters of credit?

The letter of credit is a payment tool that can be used to finance both make domestic and international purchases. There are many different types of letters of credit. What…

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Incoterm 2020 DAP: When is it used?

What is Incoterm® 2020 DAP? The Incoterm 2020 DAP (Delivery at Place), requires that the cargo be delivered by the seller at a place designated by the buyer. Normally this…

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CIF Incoterms

What does CIF mean in international trade? CIF stands for Cost Insurance and Freight. It is included in Incoterms® 2020 and one of the most important terms to ever be…

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Incoterms: Frequently Asked Questions

In this article we look at all the frequently asked questions about Incoterms. You may also like our comprehensive article and relevant diagrams explaining the 2020 version of the terms…

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When does title of goods pass from seller to buyer?

Incoterms deals with several aspects of trade such as : General obligations Transfer of risks Delivery Carriage Insurance Delivery and transportation documents Export clearance Import clearance Cost allocation between buyer…

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A Hidden Risk In DDP

Delivered Duty Paid or DDP, is the only Incoterm that requires the seller to act as the importer of record in the buyer's country. Buyer's typically opt to trade on…

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Shipping EXW Incoterms 2020

EXW Incoterms 2020 : A Few Quick Points Ex Works (EXW) Incoterms can be used for all modes of transport and even when there are multiple modes of transport involved…

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Shipping DAP Incoterms 2020

DAP Incoterms 2020 : A Few Quick Points Delivered At Place (DAP) Incoterms can be used for all modes of transport and even when there are multiple modes of transport…

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Shipping CIF Incoterms 2020

CIF Incoterms 2020 : A Few Quick Points Cost Insurance and Freight (CIF) Incoterms (or CIF Incoterms) can be used for sea transport, including inland waterway Risk transfers from seller…

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Shipping FCA Incoterms 2020

FCA Incoterms 2020 : A Few Quick Points Free Carrier (FCA) Incoterms can be used for all modes of transport. Risk transfers from seller to buyer when the carrier collects…

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Shipping DPU Incoterms 2020

DPU Incoterms 2020 : A Few Quick Points Delivered at Place Unloaded (CIP) Incoterms can be used for all modes of transport and even when there are multiple modes of…

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