import-export procedure

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incoterm

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By: bdsona (135 month(s) ago)

Thunk U

By: bdsona (135 month(s) ago)

Thunk U

Presentation Transcript

IMPORT AND EXPORT PROCIDURE : 

IMPORT AND EXPORT PROCIDURE PROJECT ON : INCOTERM GROUP MEMBERS Names Roll NO Nikhil Kabre 35 Dhiraj kadam 36

Incoterm(International commercial term) : 

Incoterm(International commercial term) INCOTERMS serve as a good guide in this regard as they spell out the "critical point" which determines the passing of risk (of loss or damage to the goods) from the Seller to the Buyer. Commercial Terms are a series of international trade terms that are used are used worldwide to divide he transaction costs and responsibilities between the seller and the buyer and reflect state-of-the-art transportation practices.

Slide 4: 

Published by the International Chamber of Commerce (ICC) with its Head Quarters in Paris the present INCOTERMS 2000 have 13 terms 1953,1967,1980,1990 and 2000 are different type of Incoterm

WHAT INCOTERMS ARE NOT : 

THEY ARE NOT PART OF THE CONTRACT FOR CARRIAGE THEY ARE NOT USED TO TRANSFER PROPERTY RIGHTS OR TITLE THEY ARE NOT USED TO NAME A CARRIER THEY ARE NOT USED TO DETERMINE THE THE EFFECT OF BREACH OF CONTRACT CASES WHAT INCOTERMS ARE NOT

Incoterm Groups : 

Incoterm Groups “E” TERMS - DEPARTURE “F” TERMS – MAIN CARRIAGE UNPAID “C” TERMS – MAIN CARRIAGE PAID “D” TERMS - ARRIVAL

Incoterm description : 

Incoterm description EXU, FCA, FAS, FOB, CFR, CIE, DEQ, DDP, Etc…….

Important points About INCOTERM : 

Important points About INCOTERM

Slide 9: 

These deal with passing of RISK and not TITLE over goods or similar issues. - These are not a substitute to a full Contract of Sale They do not have force of law unless the Contract of Sale mentions INCOTERMS 2000. For example: FOB (INCOTERM 2000) - Except in the case of CIF and CIP, insurance is not mandatory. For instance an FOB Seller should not take for granted that the Buyer has insurance for the overseas voyage. - Unless otherwise mentioned in the credit, CIF or CIP Seller is not under obligation to arrange an All Risks insurance.

Slide 10: 

- With containerisation and use of RO vessels, the traditional ships rail as a point of division of risks and costs are no more relevant. Seller's and Buyers should be aware of the consequences of using a wrong term. - Under CIF or CIP, the Seller is obliged to obtain insurance on port to port basis. If you want cover extending period of insurance from port to the final warehouse inland, please request your Seller to do this. Otherwise if a separate insurance is required from port of discharge to the final place (e.g., Mumbai Port to Thane, your local Insurer would be a bit concerned with concealed damage or loss during the ocean voyage which was not insured with them!

THANK YOU : 

THANK YOU

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