{"id":3057,"date":"2023-06-15T08:08:39","date_gmt":"2023-06-15T08:08:39","guid":{"rendered":"https:\/\/oceanicllp.com\/?page_id=3057"},"modified":"2023-06-15T10:41:49","modified_gmt":"2023-06-15T10:41:49","slug":"incoterms","status":"publish","type":"page","link":"https:\/\/oceanicllp.com\/index.php\/incoterms\/","title":{"rendered":"INCOTERMS"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3057\" class=\"elementor elementor-3057\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2749921 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2749921\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cd566cd\" data-id=\"cd566cd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-01c9d4a elementor-widget elementor-widget-spacer\" data-id=\"01c9d4a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-936ecd5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"936ecd5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-a3fe5ee\" data-id=\"a3fe5ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d0ab9ac elementor-widget elementor-widget-text-editor\" data-id=\"d0ab9ac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h2>What are Incoterms?<\/h2><p>The Incoterms\u00ae rules are the international regulations that apply to the trade for the sales of goods worldwide; these rules are in place to clarify the buyer&#8217;s responsibilities and the seller\/shipper in the international shipments of global goods. The Incoterms\u00ae<strong>\u00a0<\/strong>rules assist the mutual understanding of responsibilities for the sale of goods worldwide between buyers and sellers and the export and import shipping process.<\/p><p>Launched by the\u00a0<strong><a href=\"https:\/\/iccwbo.org\/\" target=\"_blank\" rel=\"noopener\">International Chamber of Commerce (ICC)<\/a>,<\/strong>\u00a0the new set of rules entered into force on January 1st, 2020. As of this date, all sales contracts should refer to the Incoterms\u00ae 2020 rules as the latest version of the Incoterms\u00ae rules.<\/p><h2>Why are Incoterms used in international shipping?<\/h2><p>They are the authoritative rules for determining how costs and risks are allocated to the parties; they guide individuals and companies participating in the import and export of global trade. These rules are regularly incorporated into contracts and have become part of the daily language of trade between buyers and sellers.\u00a0<\/p><h2>Key Incoterms 2020 changes &#8211; What&#8217;s new?<\/h2><ul><li>Provides for demonstrated market need concerning bills of lading (BL) with an on-board notation and the Free Carrier (FCA) rule.<\/li><li>Aligns different insurance coverage levels in Cost Insurance and Freight (CIF) and Carriage and Insurance Paid to (CIP).<\/li><li>Includes arrangements for carriage with own means of transport in Free Carrier (FCA), Delivery at Place (DAP), Delivery at Place Unloaded (DPU), and Delivered Duty Paid (DDP).<\/li><li>There is a change in the three-letter name for Delivered at Terminal (DAT) to Deliver at Place Unloaded (DPU).<\/li><li>Includes security-related requirements within carriage obligations and costs.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8dc79a8 elementor-widget elementor-widget-spacer\" data-id=\"8dc79a8\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-1420a92 elementor-widget elementor-widget-image\" data-id=\"1420a92\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.12.2 - 23-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"903\" height=\"521\" src=\"https:\/\/oceanicllp.com\/wp-content\/uploads\/2023\/06\/Picture1-4-e1686816702875.png\" class=\"attachment-full size-full wp-image-3059\" alt=\"\" srcset=\"https:\/\/oceanicllp.com\/wp-content\/uploads\/2023\/06\/Picture1-4-e1686816702875.png 903w, https:\/\/oceanicllp.com\/wp-content\/uploads\/2023\/06\/Picture1-4-e1686816702875-300x173.png 300w, https:\/\/oceanicllp.com\/wp-content\/uploads\/2023\/06\/Picture1-4-e1686816702875-768x443.png 768w, https:\/\/oceanicllp.com\/wp-content\/uploads\/2023\/06\/Picture1-4-e1686816702875-600x346.png 600w\" sizes=\"(max-width: 903px) 100vw, 903px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">INCOTERMS 2020<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-caac7eb elementor-widget elementor-widget-text-editor\" data-id=\"caac7eb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2>Valuable Incoterms 2020 information<\/h2><p>Incoterms\u00ae\u00a0does\u00a0not constitute a complete contract but rather becomes a part of it. For\u00a0its application, the following formula should be used:<\/p><p>(The chosen Incoterm\u00ae\u00a0rule)\u00a0followed by (Named port, place or point)\u00a0Incoterms\u00ae\u00a02020<\/p><p>Example: &#8220;CIF Amsterdam Incoterms\u00ae\u00a02020&#8221;\u00a0or &#8220;DAP 1500 Rankin Road, Houston, TX United States Incoterms\u00ae\u00a02020.&#8221;<\/p><p>If there is no year stated in the Incoterms\u00ae, then the following applies:<\/p><ul><li>Until December 31st, 2019, the Incoterms\u00ae\u00a02010 apply.<\/li><li>From January 1st, 2020, the Incoterms\u00ae\u00a02020 applies.<\/li><\/ul><p>Suppose a different year is stated, e. g. Incoterms\u00ae\u00a01980, then respective terms apply.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>What are Incoterms? The Incoterms\u00ae rules are the international regulations that apply to the trade for the sales of goods worldwide; these rules are in place to clarify the buyer&#8217;s responsibilities and the seller\/shipper in the international shipments of global goods. The Incoterms\u00ae\u00a0rules assist the mutual understanding of responsibilities for the sale of goods worldwide [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"tpl-default-elementor.php","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/pages\/3057"}],"collection":[{"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/comments?post=3057"}],"version-history":[{"count":10,"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/pages\/3057\/revisions"}],"predecessor-version":[{"id":3131,"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/pages\/3057\/revisions\/3131"}],"wp:attachment":[{"href":"https:\/\/oceanicllp.com\/index.php\/wp-json\/wp\/v2\/media?parent=3057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}