General
Since the new version of the Incoterms was released at the end of last year, companies could use the new terms. As it is officially 2020, the new Incoterms 2020 are now in effect.
When goods are bought or sold “Delivery at Place” (DAP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location.
When goods are bought or sold “Delivery at Terminal” (DAT) it means that the Seller delivers the goods to a terminal at destination previously agreed to by the seller and the buyer. This can also be a road transportation hub or a quay.
When goods are bought or sold “Carriage and Insurance Paid” (CIP) it means that the Seller delivers the goods to a destination previously agreed to by the seller and the buyer.
The International Chamber of Commerce has launched the latest version of the International Commercial Terms (Incoterms): Incoterms 2020.
When goods are bought or sold "carriage paid" (CPT), this means that the seller delivers the goods to a destination agreed in advance between the seller and the buyer. It can also mean delivery to the buyer's preferred carrier.
Whether you are importing or exporting goods, and whether you are a buyer or a seller, the chances are high that you will encounter Incoterms.
Customs Support Group is AEO Certified. Great! But what does that mean? AEO stands for Authorized Economic Operator. It is a concept that has been established by the European Union in 2008. The main goals are increasing international supply chain security and facilitating legitimate trade.
