RTM Lines specializes in global ocean transportation of heavy and over-dimensional project cargo, as well as the general break bulk, ro-ro and container cargo. The Incoterms® rules* have been incorporated in contracts for the sale of goods worldwide and provide guidance to importers, exporters, lawyers, transporters, insurers and students of ...

2023年2月15日 · The Incoterms® 2020 rules provide for different levels of insurance coverage in the Cost Insurance and Freight (CIF) rule and Carriage and Insurance Paid To (CIP) rule. CIF Incoterms® rule, which is reserved for use in maritime trade and often used in commodity trading, the Institute Cargo Clauses (C) remains the default level of coverage ...

Some of the most common words and phrases that appear in the Incoterms rules include: Break Bulk Cargo. Conventional, un-containerized cargo that ships in units of one or packages, such as vehicles, machinery, palletized or boxed cargo. Bulk Cargo

2023年10月8日 · Freight incoterms (International Commercial Terms) are the standard terms used in sales contracts for importing and exporting. They are used to define responsibility and liability for goods over the course of a shipment. In other words, they spell out when responsibility for the goods transfers from the supplier to the buyer.

2024年1月31日 · In FOB (Free On Board), commonly used in bulk shipping, the seller is responsible to deliver the goods on board the vessel, after which the buyer controls the shipping process. Each Incoterm® plays a unique role in balancing cost, control, and risk of loss or damage between import and export.

The International Chamber of Commerce’s Incoterms 2020 sets out 11 rules for use in contracts related to domestic and international trade. As was the case with its predecessor editions, Incoterms 2020 spells out in great detail the obligations of sellers and buyers related to each term, defining respective costs and risks.

FOB suits better for bulk cargo and not containerized cargo (use FCA instead). FOB can only be used for ocean transportation, the seller’s responsibility ends when the goods are placed on board of the vessel.

The seller must place the goods alongside the ship at the named port. The seller must clear the goods for export. Suitable only for maritime transport but NOT for multimodal sea transport in containers (see Incoterms 2010 , ICC publication 715). This term is typically used for heavy-lift or bulk cargo. FOB – Free on Board (named port of shipment)

We'll cover the Incoterms rules for all 11 of the official Incoterms 2020, including the modes of transport, when the risk passes from the seller to the buyer, the responsibilities of both parties, and a price calculation for each of the Incoterms.

Incoterms (International Commercial Terms) are globally recognized rules that define the responsibilities of buyers and sellers in international trade. They clarify who bears the costs, risks, and responsibilities for transporting goods, ensuring smooth transactions and reducing misunderstandings between parties. What Does Incoterms Mean?