On: January 24, 2022 By: David Noah
Under the Incoterms 2020 rules, CIP means the seller is responsible for delivering the goods to the first carrier, at which point risk transfers to the buyer. The seller is responsible for the transportation and insurance costs for delivering goods at least to the named place of destination.
On: January 5, 2022 By: David Noah
On Jan. 1, 2022, the World Customs Organization updated the Harmonized System (HS) codes used throughout the world for importing and exporting. Those changes also impact U.S. HTS codes for imports and Schedule B codes for exports. Here’s what you need to know to ensure you're still correctly classifying your products.
On: December 15, 2021 By: David Noah
Under the Incoterms 2020 rules, CPT means the seller is responsible for delivering the goods to the first carrier, at which point risk transfers to the buyer. The seller is responsible for the transportation costs associated with delivering goods to the named place of destination.
On: November 29, 2021 By: David Noah
There are definite advantages and disadvantages for companies to consider before exporting their goods and services. But for many companies, exporting is a viable option for growing their business and increasing their sales. After all, more than 95% of the world’s population live outside of the U.S.!
On: November 3, 2021 By: David Noah
Importers and exporters must properly identify and label the country of origin of their goods. It's used by customs authorities to identify duty rates, preferential trade agreements, trade sanctions and import quotas that may apply. Labels on goods also allow users to know their origin.
On: October 18, 2021 By: David Noah
Thanks to the Dominican Republic-Central America Free Trade Agreement, you may not have to pay tariffs on your goods if you are exporting to one of six partner countries. We look at how the CAFTA-DR has impacted trade in this region and how to know if your goods qualify under the FTA.
On: October 6, 2021 By: David Noah
Under the Incoterms 2020 rules, CFR means the seller has fulfilled its obligation when the goods are delivered and loaded on the vessel they’ve nominated at the named port of shipment. CFR is best used in situations where sellers have direct access to the vessel for loading.
On: September 22, 2021 By: David Noah
U.S. exporters need to identify the correct 10-digit Schedule B codes for their products as part of their export compliance responsibilities. The Schedule B search engine can help. Don't ignore this important step, because using the wrong code may result in fines and other penalties.
On: September 15, 2021 By: David Noah
Under the Incoterms 2020 rules, Free On Board (FOB) means the seller has fulfilled its obligation when the goods are loaded on the vessel nominated by the buyer. This term should only be used for sea and inland waterway transport and usually only for non-containerized bulk cargo, such as oil or grain.
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