EXW – Ex Works … (named place) • The seller responsible to place the goods at disposal of the buyer at seller’s facilities or any other named place. • EXW terms do not obligate the seller to clear exports or load goods into the collecting vehicle. • The seller has minimum obligation and buyer must […]
What are Incoterms® rules? The Incoterms® rules are the world’s essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. The Incoterms® rules provide specific guidance to individuals […]
QUESTION 1 a) i. In the environment of export and import activities, there are TWO (2) types of forces. Describe those forces. (5 marks) ii. Identify FIVE (5) factors needed in export and import activities. (5 marks) b) Identify the functions of export and import agency below: (15 marks) i. Customs broker ii. Export and […]
• Incoterms (an acronym for International Commercial Terms) established in 1936 by the International Chamber of Commerce (ICC). • Incoterms is a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC). • The use of Incoterms in International Trade is widespread today. • One of the first initiatives of the International […]