Back-to-Back LC: Must Incoterms Be the Same? Intro In back-to-back LC transactions, questions about Incoterms often come not from the rules—but from the bank’s sense of risk. This case is a good example: what is legally allowed, and what is operationally wise, are not always the same thing. Question Hello Sir, We are doing back-to-back LC and our shipment is under charter party. Import is on FOB … Read More
INCOTERMS IN THE INVOICE QUESTION Dear Mr. Old Man, I appreciate your answer to the following: Situation: L/C stipulates trade term in Field 45A as FOB any Chinese port. B/L presented indicates Port of Loading as Shanghai Port, China. Invoice presented shows FOB any Chinese Port. Question: Is the invoice discrepant? Must it show FOB Shanghai Port to comply with B/L? Thank you. M. … Read More
SHOW YOUR LOVE FOR THE COUNTRY BY USING APPROPRIATE INCOTERMS QUERY FROM HANG PHAM Dear Mr.Old! I just read a document about Incoterms and it stated that: If containers are used for transportation of goods, FOB should be replaced by FCA, CFR by CPT, and CIF by CIP.For the benefit of macroeconomics and microeconomics, merchants should choose the “C”-terms when exporting and “F”-terms when importing. Can u explain the reason … Read More