The Made Easy e-Guide to Incoterms® 2010 Rules
with its unique“Quick Reference Format”
is now available
The Made Easy e-Guide to Incoterms® 2010 Rules with its unique “Quick Reference Format” is now available.
This 77-page e-Guide to the 2010 version of Incoterms® is an essential companion to the official ICC publication, Incoterms® 2010, which lists the rules and the obligations for Sellers and Buyers.
Incoterms® is a trademark of the International Chamber of Commerce.
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Having trouble figuring out which rule or rules to use with Incoterms® 2010?
Do you already have the official ICC publication?
Are you having difficulty working your way through all the detailed information in trying to figure out which rule best fits your trading situation?
Or, if you haven’t yet purchased the book yet, have you been trying to Google the information with limited success?
Never fear!
Help is at hand.
The “Made Easy e-Guide to Incoterms® 2010 Rules” has been written for you.
The authors, two international trade experts and practitioners (Corinne Campbell of XDOC and Lance Scoular of Key Directions), have spent months working through the official book, discussing, debating and consulting with colleagues both locally and internationally.
They have turned the various Rules upside down and inside out, looking at various possibilities from different perspectives and different scenarios.
The Authors
They each attended a number of seminars and webinars. They themselves organised their own series of international webinars to tap into a variety of expertise and experiences from numbers of traders, freight forwarders, logistics and customs brokers, bankers and industry trainers in various parts of the world.
They distilled the complexities down to the simple basics and core information. Then, cognisant that different people have different learning styles, they created a simple yet comprehensive structure, the unique “Quick Reference Format,” to assist anyone, anywhere in the world, to be able to methodically and efficiently determine the appropriate Incoterms® rule to apply in any given situation.
The Three Step process
Notwithstanding the simple process and methodology developed, it is imperative, that once a rule is selected using the e-Guide, the official book should be consulted to make sure that the chosen rule is definitely applicable.
The suggested process for determining which rule is applicable is a
3 Step Process
1) Consult
Consult the “Made Easy e-Guide to Incoterms® 2010 Rules” and work through the guide utilising the 6 different elements of the Quick Reference Format as described in further detail below.
2) Confirm
Once a Rule has been chosen that relates to your specific situation, consult that section of the Official Incoterms® publication to verify the applicability and make sure that all aspects of the rule are understood.
3) Contract
Discuss the rule with your trading partner (seller or buyer) and make sure that all elements and implications are completely understood by both parties.
Once agreement has been reached to use that particular Incoterms® Rule, the contract can then be finalised.
NOTE: This is not legal advice; if you wish to obtain legal advice, you should consult a legal, financial or tax practitioner in your jurisdiction.
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The Unique “Quick Reference Format”
The “Made Easy e-Guide to Incoterms® 2010 Rules” has been carefully planned and structured to enable you to read, view, analyse and compare any or all of the 11 Incoterms®.
This enables you to assess the implications of the Incoterms® that you may choose to use in your domestic or international trade contracts.
The six elements of the “Quick Reference Format” are:
1) Description of the Term
2) Responsibilities of Seller and Buyer
3) Checklist of Obligations
4) Remarks
5) Case Studies/Practical Scenarios
6) Charts
The Description of the Term is a brief simple summary of the Incoterms® Rule.
(See example page in the Responsibilities section below)
The Responsibilities of Seller and Buyer as well as risks are listed in tabular format to enable you to assess your own responsibilities and risks and those of your trading partner.
EXAMPLE PAGE:
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The Checklist of Obligations is an helpful guide, not only for assessing the requirements of the particular Incoterms® Rule, but it can also be used in an operational environment to cover off important elements and processes when a transaction is in actually in progress.
EXAMPLE PAGE:
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The REMARKS section is another “Quick Reference Table” utilising these five indicative icons:
The icons represent:
POSITIVES: What are the best practices
CONCERNS: When usage is not recommended
CONSIDERATIONS: What to consider
NEGOTIABLES: What to include in your negotiations and contracts
INSURANCE: What to consider with Insurance
EXAMPLE PAGE:
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The Case Studies/Practical Scenarios provide you with examples of real life type situations to compare to either your current or future trading situations.
The Standard Structure for the Case Study is:
Scenario:
Terms of Sale:
Mode of Transport for Main Carriage:
Type of Trade:
Insurance Obligations:
Export Country Obligations including Duties and Taxes:
Import Country Obligations including Duties and Taxes:
Seller’s Risk:
Seller’s Costs:
Buyer’s Risk:
Buyer’s Costs:
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27 Case Studies with accompanying Charts
Comprehensive case studies enable you check out a variety of scenarios for the different rules.
The accompanying charts provide a graphical representation of the scenario. (see next section).
EXW Case Study 1
Scenario:
A discount retailer with no loading facilities or staff in California sells Ex Works to a retailer in New York, USA.
EXW Case Study 2
Scenario:
A small cork producer sells from their contract manufacturer which has no loading facilities or staff in Portugal, sells Ex Works to Marseille, France.
FCA Case Study 1
Scenario:
Manufacturer of Teddy Bears with own loading facilities and staff in San Francisco, USA sells to a toy retailer in New York, USA
FCA Case Study 2
Scenario:
Publisher of books in Paris, France sells a LCL container shipment of 5 pallets 5M3 measurement to a wholesale book warehouse in Montreal, Canada.
FCA Case Study 3
Scenario:
Grower of bananas in Philippines packs FCL refrigerated container for sale to Hong Kong fruit wholesaler.
FCA Case Study 4
Scenario:
Swedish fishing company sells fresh seafood to a hotel in London, UK by air freight.
CPT Case Study 1
Scenario:
German engineering company sells a LCL container shipment of 12 boxes spare parts 12M3 measurement to a mining company in Johannesburg, South Africa.
CPT Case Study 2
Scenario:
Australian winery sells a 20’ full container (FCL) of wine to a hotel in Beijing, China.
CPT Case Study 3
Scenario:
The Australian Mint sells coins of legal tender to Fiji Treasury by high security air freight.
CIP Case Study 1
Scenario:
German engineering company sells a LCL container shipment of 12 boxes spare parts 12M3 measurement to a mining company in Johannesburg, South Africa.
CIP Case Study 2
Scenario:
Australian winery sells a 20’ full container (FCL) of wine to hotel in Beijing, China.
CIP Case Study 3
Scenario:
The Australian Mint sells coins of legal tender to Fiji Treasury by high security air freight.
DAT Case Study 1
Scenario:
Chinese Manufacturer sells large electric transformers to electricity utility in California USA. The cargo is “oversize cargo” and unsuitable for containers. The cargo is booked on a roll on/roll off (RO/RO)
DAT Case Study 2
Scenario:
Brazilian meat exporter sells 10 x 20’ refrigerated containers (FCL) of frozen beef to food wholesaler in Luanda, Angola.
DAT Case Study 3
Scenario:
A United Arab Emirates aluminum manufacturer sells fittings to shop outfitter in Miami, Florida, USA. Orders are relatively small so goods are shipped in consolidated containers (LCL) by sea.
DAT CASE STUDY 4
Scenario:
Italian Manufacturer supplies injection molding machine to Polish furniture manufacturer by road transport.
DAP Case Study 1
Scenario:
Chinese Manufacturer sells large electric transformers to electricity utility in California USA. The cargo is “oversize cargo” and unsuitable for containers. The cargo is booked on a roll on/roll off (RO/RO) vessel.
DAP Case Study 2
Scenario:
Brazilian meat exporter sells 10 x 20’ refrigerated containers (FCL) of frozen beef to food wholesaler in Luanda, Angola.
DAP Case Study 3
Scenario:
A United Arab Emirates aluminum manufacturer sells fittings to shop outfitter in Miami, Florida, USA. Orders are relatively small so goods are shipped in consolidated containers (LCL) by sea.
DAP Case Study 4
Scenario:
Italian Manufacturer supplies injection molding machine to Polish furniture manufacturer by road transport.
DDP Case Study 1
Scenario:
New Zealand dairy producer supplies to a supermarket co-operative in Australia. The contract is to delivery directly to various distribution centers in major cities in Australia on agreed dates each week.
Note: To reduce risk of using DDP, Seller has worked closely with New Zealand freight forwarder and their Australian offices to establish all specific delivery costs including taxes in Buyer’s country.
DDP Case Study 2
Scenario:
Australian Women’s Fashion designer sells clothing to Boutiques in major cities in USA. Each shipment to the USA has at least 10 consignees in various parts of the country.
Note: To reduce risk of using DDP, Seller has worked closely with Australian freight forwarder and their USA offices to establish all specific delivery costs including duties and taxes in Buyer’s country.
FAS Case Study 1
Scenario:
Large timber packs are sold by Indonesian Timber Company as break bulk cargo to Chinese furniture manufacture in Guangzhou, China.
FAS Case Study 2
Scenario:
A Dutch oil rig manufacturer supplies equipment to a North Sea oil rig. The goods are transported from their factory by barge to a specialized ship in the port of Rotterdam.
FOB Case Study 1
Scenario:
A wheat export trading company has regular bulk shipments to Kuwait.
Goods are loaded at grain terminal onto bulk carriers at the Port of Geraldton, WA, Australia.
CFR Case Study 1
Scenario:
Iron ore mine sells regular bulk shipments of iron ore to China.
Goods are loaded at terminal onto bulk carriers at Port Headland, WA, Australia.
CIF Case Study 1
Scenario:
Australian live cattle trader in the Northern Territory sells cattle to company in Port Kelang, Malaysia. The trader charters specialised livestock carrier from Darwin and pays for the freight to Malaysia.
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On the same page is the visual representation example of Case Study/Scenario represented in the form of a Chart.
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The Chart element of the “Quick Reference Format” allows you to visually assess the main elements of the Case Study/Scenario relating to different aspects of the transaction for both the Seller and the Buyer including:
Transport Mode
Risk Transfer point
Cost transfer point
Insurance obligation and Insurance Minimum cover (where applicable)
Export Customs formalities
Import Customs formalities
EXAMPLE PAGE:
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Who will benefit from the Made Easy e-Guide to Incoterms® 2010 Rules ?
Obviously the main beneficiaries of the “Quick Reference Format” eBook will be Sellers and Buyers, Exporters and Importers.
However there are many trade facilitators and others involved in International and Domestic Trade who will benefit from the simple yet comprehensive style of the Made Easy e-Guide.
These include:
• Exporters
• Importers
• Shippers
• Traders
• Contract/Execution Managers Involved In Export/Import Of Goods;
• Sales Managers
• Marketing Managers
• Purchasing Managers
• Distributors
• Trade Consultants
• Compliance Professionals
• Logistics Consultants
• Freight Forwarders
• Consolidators
• Customs Brokers
• Carriers, Road, Rail, Air, and Sea
• Attorneys Lawyers Legal Staff, Advocates particularly involved In International Contract Drafting
• Bank Personnel Working In Trade Finance, Particularly In Documentary Credits And Collections
• Credit Professionals
• Insurers & Insurance Brokers
• Academics, Trade Trainers and Educators
How to Purchase and Download Immediately the Made Easy e-Guide to Incoterms® 2010 Rules NOW
The Made Easy e-Guide to Incoterms® 2010 Rules is an eBook in PDF format and is immediately downloadable after payment.
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Choose either US Dollars or Australian Dollars as indicated by the flag below.
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Note for Australian Residents: a 10% GST applies.
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Pricing and Payment Options
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Price is US$ 57.00
Payment processed by XDOC® PO Box 379, Beecroft, NSW 2119 Australia
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Price is AUD 57.00
For Australian Residents the Price is:
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Payment processed by XDOC® PO Box 379, Beecroft, NSW 2119 Australia
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Negotiating the Minefields of International Trade
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