Import export procedure
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Import export procedure

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    Import export procedure Import export procedure Presentation Transcript

    • IMPORT AND EXPORTIMPORT AND EXPORT PROCIDUREPROCIDURE  PROJECT ON : INCOTERMPROJECT ON : INCOTERM www.StudsPlanet.comwww.StudsPlanet.com
    • Incoterms 2000 www.StudsPlanet.comwww.StudsPlanet.com
    • IncotermIncoterm (International commercial term)(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. www.StudsPlanet.comwww.StudsPlanet.com
    •  Published by the InternationalPublished by the International Chamber of Commerce (ICC) withChamber of Commerce (ICC) with its Head Quarters in Parisits Head Quarters in Paris  the present INCOTERMS 2000 havethe present INCOTERMS 2000 have 13 terms13 terms  1953,1967,1980,1990 and 2000 are1953,1967,1980,1990 and 2000 are different type of Incotermdifferent type of Incoterm www.StudsPlanet.comwww.StudsPlanet.com
    • 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 AREWHAT INCOTERMS ARE NOTNOT www.StudsPlanet.comwww.StudsPlanet.com
    • Incoterm GroupsIncoterm Groups  ““E” TERMS -E” TERMS - DEPARTUREDEPARTURE  ““F” TERMS –F” TERMS – MAIN CARRIAGE UNPAIDMAIN CARRIAGE UNPAID  ““C” TERMS –C” TERMS – MAIN CARRIAGE PAIDMAIN CARRIAGE PAID  ““D” TERMS -D” TERMS - ARRIVALARRIVAL www.StudsPlanet.comwww.StudsPlanet.com
    • Incoterm descriptionIncoterm description EXU, FCA, FAS, FOB, CFR,EXU, FCA, FAS, FOB, CFR, CIE, DEQ, DDP, Etc…….CIE, DEQ, DDP, Etc……. www.StudsPlanet.comwww.StudsPlanet.com
    • Important points AboutImportant points About INCOTERMINCOTERM www.StudsPlanet.comwww.StudsPlanet.com
    •  These deal with passing of RISK and not TITLE overThese deal with passing of RISK and not TITLE over goods or similar issues.goods or similar issues.  - These are not a substitute to a full Contract of Sale- These are not a substitute to a full Contract of Sale  They do not have force of law unless the Contract ofThey do not have force of law unless the Contract of Sale mentions INCOTERMS 2000. For example: FOBSale mentions INCOTERMS 2000. For example: FOB (INCOTERM 2000)(INCOTERM 2000)  - Except in the case of CIF and CIP, insurance is not- Except in the case of CIF and CIP, insurance is not mandatory. For instance an FOB Seller should notmandatory. For instance an FOB Seller should not take for granted that the Buyer has insurance for thetake for granted that the Buyer has insurance for the overseas voyage.overseas voyage.  - Unless otherwise mentioned in the credit, CIF or CIP- Unless otherwise mentioned in the credit, CIF or CIP Seller is not under obligation to arrange an All RisksSeller is not under obligation to arrange an All Risks insurance.insurance. www.StudsPlanet.comwww.StudsPlanet.com
    •  - With containerisation and use of RO vessels, the- With containerisation and use of RO vessels, the traditional ships rail as a point of division of riskstraditional ships rail as a point of division of risks and costs are no more relevant. Seller's andand costs are no more relevant. Seller's and Buyers should be aware of the consequences ofBuyers should be aware of the consequences of using a wrong term.using a wrong term.  - Under CIF or CIP, the Seller is obliged to obtain- Under CIF or CIP, the Seller is obliged to obtain insurance on port to port basis. If you want coverinsurance on port to port basis. If you want cover extending period of insurance from port to the finalextending period of insurance from port to the final warehouse inland, please request your Seller to dowarehouse inland, please request your Seller to do this. Otherwise if a separate insurance is requiredthis. Otherwise if a separate insurance is required from port of discharge to the final place (e.g.,from port of discharge to the final place (e.g., Mumbai Port to Thane, your local Insurer would beMumbai Port to Thane, your local Insurer would be a bit concerned with concealed damage or lossa bit concerned with concealed damage or loss during the ocean voyage which was not insuredduring the ocean voyage which was not insured with them!with them! www.StudsPlanet.comwww.StudsPlanet.com
    • THANK YOUTHANK YOU www.StudsPlanet.comwww.StudsPlanet.com