Import Value

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There is “customs value”, which is the value presented to customs of the destination country. Customs always needs to have some sort of “invoice” or declaration of value for cargoes entering their country. We cannot say $0.00 and say it … Read More

Incoterms

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Incoterms provide a common set of rules to clarify  who is responsible for what and when under sales contracts. Incoterms significantly reduce misunderstandings among seller and buyer. Below is a list of the more common terms.  This list is meant to give you an … Read More

Insurance Value

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Since little out of pocket cash was paid out for these commodities, the exporter normally sets the insurance value to cover such expenses (like ocean freight, cargo handling, procurement, service fees, etc.). These expenses are rarely precise, and the exporter … Read More