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Since Incoterms 1980 introduced the Incoterm FCA, FOB should only be used for non-containerized seafreight and inland waterway transport. However, FOB is commonly used incorrectly for all modes of transport despite the contractual risks that this can introduce.
FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
Incoterms 2010, the 8th revision, refers to the newest collection of essential international commercial and trade terms with 11 rules. Incoterm 2010 was effective on and from January 1, 2011. The terms were devised in recognition of non-uniform standard trade usages between various States.
Non-current assets are long-term investments, versus current assets that a company can quickly turn into cash.
In the case of an FOB (Free On Board) sale, the determination of the energy transferred and invoiced for will be made in the loading port. In the case of a CIF (Cost Insurance & Freight) or a DES (Delivered Ex Ship) sale, the energy transferred and invoiced for will be determined in the unloading port.
CIF defines a video sequence with a resolution of 352 × 288, which has a simple relationship to the PAL picture size, but with a frame rate of 30000/1001 (roughly 29.97) frames per second like NTSC, with color encoded using a YCbCr representation with 4:2:0 color sampling. It was designed as a compromise between PAL and NTSC schemes, since it ...
The key to effective financial planning are two primary types of income: Passive and non-passive. It's important to understand both passive and non-passive income types that you may have and how ...
The objective of DEPB is to neutralise the incidence of Customs duty on the import content of the export product. The neutralisation shall be provided by way of grant of duty credit against the export product. Under the DEPB, an exporter may apply for credit, as a specified percentage of FOB value of exports made in freely convertible currency.