FOB is the abbreviation for Free On Board, also known as ex-factory price and delivery on board. Typically, when the goods pass the ships rail at the designated port of shipment, the exporter fulfills its delivery obligation.
EXW, short for EX Works, is called Ex - Works (named place). Usually, the exporter has fulfilled its obligation to deliver the goods when it places the goods at its business premises or other designated places (factory, warehouse) for the importer to take delivery.
The most significant feature of Golden Tax Phase IV is the establishment of a comprehensive enterprise information verification system. After its implementation, businesses must strengthen tax awareness and compliance management, prudently reduce tax burdens, and mitigate tax risks.
Import agents should pay special attention to the issue of cargo ownership. After negotiation between the cargo owner and the import agent, an import agency agreement should be signed, which should include provisions on cargo ownership to avoid disputes arising therefrom.
Avoiding Traps in Determining the Attributes of Pressure Vessels
Enterprises declaring the export of medical devices must ensure that the exported medical devices meet the requirements of the importing country (region). Generally, the exporting country does not inspect the goods.
Due to the complexity of cross - border transactions, claims under export credit insurance are extremely complex. More specifically, claims under export credit insurance activities include four main parts.
Telegraphic Transfer (T/T) is now a relatively common foreign trade payment collection method. Payment is made through bank transfer. The remitting bank, in accordance with the requirements of the remitter and the instructions of the foreign remitting bank, settles a certain amount of money to the payee.
There are four common payment methods in international trade: wire transfer, letter of credit, documents against payment, and documents against acceptance.
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