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FOB, CIF, or EXW? The Incoterm you choose for your import from China can greatly affect your overall cost. But strangely, it’s seldom the focus of your import campaign. Most importers tend to place higher priority on obtaining the lowest sale price possible while overlooking other details. This may end up being a very costly mistake. Given their direct impact on import costs, it’s time we start giving Incoterms a closer look.
Maritime shipping responsibilities There are many parties involved in an international shipment, which makes it difficult to identify the party responsible for each leg of the process when a problem arises. As a participant in this convoluted relationship, you must not only be aware of your own responsibilities but that of the other relevant parties as well. Not knowing the responsibilities of your supplier or freight forwarder represents a huge risk for an importer.