International Trade

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FAS Incoterms Explained: What You Need to Know

FAS INCOTERMS are very important for the world trading system especially for large volume of cargoes. In addition to that, FAS helps eliminate confusion between the sellers and the buyers due to well-defined roles of who does what in the shipping exercise. However, it is important that businesses who use it understand that it has its disadvantages, which includes the inability to control costs, as well as lack of adequate flexibility. That way, individuals and companies can manage global trade, shipping and transportation in a manner that reflects FAS implications and promote successful business in different countries.

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Understanding Shipping Term CIP in International Trade

Therefore, it is crucial to maintain a proper understanding of the shipping term CIP (Carriage and Insurance Paid to) for international business buyers and sellers. It specifically defines the final place where the cost of freight and insurance rest with the seller. Being aware of how sellers pay and buyers operate under CIP and the peculiarities of insurance and freight prices will help companies cooperate more effectively in global shipping. In any case, having information on CIP, CIF, DAP and other Incoterms, will help parties to reduce the risks and, therefore, make the international transaction as regular and as uninterrupted as possible given the constant changes of the supply chain world.

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Navigating Essential Shipping Documents with HongOcean: The Key to Seamless International Trade

HongOcean’s suite of shipping documents, from the foundational Bill of Lading and Commercial Invoice to specialized documents like the Certificate of Origin and Insurance Certificate, is vital for effective and compliant international shipping. These documents not only fulfill regulatory obligations but also support HongOcean’s commitment to security, transparency, and efficiency in global logistics. By ensuring accuracy and completeness, embracing digital advancements, and collaborating with HongOcean’s seasoned experts, clients can achieve a streamlined and successful international shipping experience.

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Mastering DPU Incoterms: HongOcean’s Guide to Meaning, Responsibilities, and Advantages

Hongocean has main functions in providing services help the businesses to use the various Incoterms like EXW, FCA, FAS, FOB, CFR, CIF, CPT, CIP, DAP, and DDP. The nature of each Incoterm outlines certain obligations for the supplier and the buyer, and in this capacity, Hongocean arranges for the shipping and other logistical needs for the final transportation and offers help with the customs formalities and insurance. The company provides services that range from arranging shipment under EXW to offering comprehensive services that help both, the supplier or buyer to carry out import customs formalities and international business easily in today’s world.

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Term FCA Incoterms: Simplifying International Trade Responsibilities

In the aspect of Incoterms, it is crucial to notice the role of FCA, Free Carrier, since it defines a shift of liabilities between buyer and seller. According to FCA, the forwarder’s warehouse or the buyer assumes responsibility stops after the moving of the pre shipment inspection to the agreed location which most of the time is a carrier preferred by the sellers country the purchaser. Such certainty prevents the two from encountering major hitches over bills, liabilities, and moving of stocks, among other elements. FCA helps to avoid confusion when transferring goods and services, and from this perspective, it benefits FCA involved parties by contributing to global trade efficiency as compared with the high probability of conflicts in case of misunderstandings.

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Basic guide to the international trade term CFR

In the international business and marketing, Incoterms such as Cost and Freight (CFR) describe the main roles and duties of both the buyer and the seller. CFR makes the seller responsible to put the goods at a certain port and the buyer pays for the costs of transport up to the port. Once the goods are loaded on the vessel, risks pass to the buyer and the costs from shipment to the final destination are met including import custom duties and handling fees. Similar to CFR there are CIF in which insurance is included in CFR plus CIP in which the sellers get to arrange insurance to the destination. These Incoterms are very crucial in foreign trade contracts so that any confusion can be eliminated when contracting by avoiding the use of ambiguous words or phrases.

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