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Forwarding agent:A person, agency, or enterpriseengaged in the collection, shipment, and delivery of goods. Greenchannel : The route followed in passing through customs in an airport, etc by passengers claiming to have no dutiable goods to declare. Custom:Is the officialorganization responsible for collectingtaxes on goods coming into a country and preventingillegal goods from being brought in.
Freight: Is goods that are transported by lorries, trains, ships, or aeroplanes. Invoice:Is a document that lists goods that have been supplied or services that have been done, and says how much money you owe for them.
Intermodal transport: involves the transportation of freight in an intermodal container or vehicle, using multiple modes of transportation , without any handling of the freight itself when changing modes. Terminal: Set of facilities at ports and airports for travellers and goods
Explain all the insurance clauses covers. Cluse C: Cover los sor damage due to Fire and Explosion, Stranding (encallar), Sinking, Capsizing, overturning of a lorry or train, collision, total loss of vehicle, general average sacrifice (destrozos generales) and jetisson (echar por la borda) Clause B: The same as Clause C plus: Washing, overboard, sea, lake, River, Water damage and total loss of package during loading/unloading Clause A: The same as clause B plus: Rainwater damage, malicious damage (daño intencionado), breakage (rotura), partial loss, shortage, pilerage and theft (robo).
Does the seller have any obligation in paying any insurance in C-Terms? The seller pays the principal transport without assuming the risk of lost or damage, or cost added after the customs clearance and loading of goods. Does the buyer need to give notice to the seller in D-Terms? Why? NO . Seller assumes all cost and risk to bring the goods to destination.
Who pays the main transport in F terms? The seller makes the goods available to the driver. This transporter pays for it and will be chosen by the buyer. Therefore, the seller does not pay for the main transport.
If a company in Spain wants to export some goods from Barcelona port to Italy using FOB incoterms, how would you write this down in a contract? FOB BANCELONA ICC 2010
What is the definition for the F Terms? The terms F require the seller to deliver the goods for carriage in accordance with the institutions of the buyer. They are grouped into three categories: FCA,FAS AND FOB. What is the meaning of custom clearance? It work involves preparation and submission of documentations required to export or import products into the country and representing the client during customs examination, assessment, payment of duty. A company settled in Spain is about to send its goods to Germany by plane. Explain how many different colours they can get when doing the custom clearance and what the meaning from each of them is. Green Channel: means that everything is presented correctly and that therefore the goods can leave or enter the country.
Orange Channel: means that they want to check that the documentation that has been submitted is correct. It is very likely that they will request another type of document. Until the required documentation is delivered, the goods will be held in customs. Red Channel: means that they have found errors in the documentation provided, or that for any other reason they have decided to stop the goods for inspector.
Differences between EXW and FCA
EXW, the seller delivers goods to the buyer at his premises. The buyer arranges transportation and all other costs to carry the goods to his premises must be met by him. The obligation of delivery of goods by the seller is too limited to arrange goods at his factory premises only. However, in terms of FCA delivery, the export cleared goods are delivered by the seller to the carrier at the named and defined location mentioned in the contract. So, the obligation to deliver goods fulfils by the seller up to the location where FCA contracts. From the said point of location, buyer needs to take responsibility.
Allocation of costs for FCA
The Seller has to bear all cost related with Export customs declaration if contract is under the INCOTERM FCA..
The Seller is responsible for paying carriage to port of export under FCA terms. All the cost for unloading of truck in port of export should given by the Buyer under the INCOTERM FCA.
The buyer should pay all cost for loading the cargo on vessel/airplane in port of export under FCA terms. In INCOTERM FCA, the buyer should give money to Carriage (sea/air) to port of import. The Buyer is responsible for paying all the expenses for unloading the cargo in port of import according to FCA terms of delivery. Import duties and taxes should be paid by the buyer under the FCA INCOTERM.