Terms utilized at the time you Import Chinese products [นำ เข้า สินค้า จีน, which is the term in Thai]:
- EXW or Ex Works
EXW describes the international trade contract wherein the provider is anticipated to make items ready for pickup at his/her service area. The purchaser will be accountable for all prices as well as obligations of the shipment once it leaves the sellers’ business address.
When using these shipping terms, the expense, as well as dangers of shipping goods, lie with the buyer alone. This suggests that ex-lover functions allow the purchaser to have a clearer photo of the prices involved in advance. The customer will also be in control of the entire shipment, therefore, avoiding the seller from raising their local prices.
- FOB or Free On-Board
FOB is a contract that shows whether the buyer or the seller has liability for goods that are harmed en route. “FOB delivery factor” indicates that the customer will birth the danger if the products are delivered while “FOB location” implies that the vendor will bear the danger of any loss until the purchaser gets the products. The FOB term is said in non-containerized sea freight or inland river transportation. It is not going to refer for the transfer ownership of products.
- C&F or Cost as well as Freight
C&F describes a lawful option term that is used in the global profession whereby the seller does not require to obtain aquatic insurance coverage versus the danger of loss or damage to the goods being acquired while shipping items. Under C&F, the seller is expected to provide for the carriage of products by sea to a port of location as well as offer the customer with the necessary papers.
- CIF or Cost, Insurance, and Freight
CIF is a trade term that needs the provider to arrange for the transport of the items by sea to a port of location as well as likewise provides the buyer with the needed records. EU nations utilize the CIF worth for determining the responsibility that must be paid on an import.
There are many other terms utilized, but they are outside the scope of this article.