Logistics and Shipping
INCOTERMS and SGS Inspection
We consider how to best ship your goods from or to international customers efficiently, securely, and legally, by checking with our international shipping partners to compare costs and available services.
Product Details
Logistics and Shipping
Today’s trading industry supply chain is faced with a number of key challenges at various stages of the business cycle and we are here to help you navigate these challenges and make sure all logistics and shipping operations comply with strict quality, security and environmental standards.
To guarantee the success of each transaction, Ten Squared ensures the flawless coordination of all parties and synchronization of all operations.
We provide tailored solutions for all of our clients covering every aspect of the process from resource to discharge port destination.
Shipping
INCOTERMS 2020
ICC’s world renowned Incoterms® rules facilitate trillions of dollars in global trade each year.
What are Incoterms® rules?
The Incoterms® rules are the world’s essential terms of trade for the sale of goods.
The Incoterms® rules provide specific guidance to individuals participating in the import and export of global trade including shipping on a daily basis.
CLICK HERE for ICC INCOTERMS 2020 Website
INCOTERM Rules for transport
| EXW | Ex Works |
| FCA | Free Carrier |
| FAS | Free Alongside Ship |
| FOB | Free On Board |
| CFR | Cost and Freight |
| CIF | Cost Insurance and Freight |
| CPT | Carriage Paid To |
| CIP | Carriage and Insurance Paid To |
| DPU | Delivered at Place Unloaded |
| DAP | Delivered at Place |
| DDP | Delivered Duty Paid |
CLICK INCOTERM above for detailed information
INCOTERMS 2020 Infograph
The graphs below will give you a graphical understanding of the INCOTERM 2020 rules for SEA ONLY and then ANY modes.
CLICK image to enlarge SEA MODES
CLICK image to enlarge ANY MODES
INCOTERM Definitions
Any Mode of Transport
Sea and Inland Waterway Transport
For definitions below using this water symbol the INCOTERM mode of transport by must be by Sea and Waterways only.
EXW - Ex Works
The seller fulfills its obligations by having the goods available for the buyer to pick up at its premises or another named place (i.e. factory, warehouse, etc.).
With Ex Works, the buyer bears all risk and costs starting when it picks up the products at the seller’s location or other named place until the products are delivered to its location.
Seller has no obligation to load the goods or clear them for export.
FCA - Free Carrier
The seller is responsible for either making the goods available at its own premises or at a named place.
In either case, the seller is responsible for loading the goods on the buyer’s transport and is responsible for delivery to the port and export clearance including security requirements.
Risk transfers once the goods are loaded on the buyer’s transport.
FAS - Free Alongside Ship
Seller clears the goods for export and delivers them when they are placed alongside the vessel at the named port of shipment.
Buyer assumes all risks/costs for goods from this point forward.
FOB - Free on Board
Seller clears the goods for export and delivers them when they are on board the vessel at the named port of shipment.
Buyer assumes all risks and costs for goods from this moment forward.
CFR - Cost and Freight
Seller clears the goods for export and delivers them when they are on board the vessel at the port of shipment.
Seller bears the cost of freight to the named port of destination.
Buyer assumes all risks for the goods from the time the goods have been delivered on board the vessel at the port of shipment.
CIF - Cost, Insurance, and Freight
Seller clears the goods for export and delivers them when they are on board the vessel at the port of shipment.
Seller bears the cost of freight and insurance to the named port of destination.
Buyer is responsible for all costs associated with unloading the goods at the named port of destination and clearing goods for import.
Risk passes from seller to buyer once the goods are on board the vessel at the port of shipment.
CPT - Carriage Paid To
Seller clears the goods for export and delivers them to the carrier or another person stipulated by the seller at a named place of shipment, at which point risk transfers to the buyer.
Seller is responsible for the transportation costs associated with delivering goods to the named place of destination but is not responsible for procuring insurance.
CIP - Carriage and Insurance Paid To
Seller clears the goods for export and delivers them to the carrier or another person stipulated by the seller at a named place of shipment, at which point risk transfers to the buyer.
Seller is responsible for the transportation costs associated with delivering goods and procuring insurance coverage to the named place of destination.
DAP - Delivered at Place
Seller clears the goods for export and bears all risks and costs associated with delivering the goods to the named place of destination not unloaded.
DAP means the buyer is responsible for all costs and risks associated with unloading the goods and clearing customs to import the goods into the named country of destination.
DPU - Delivered at Place Unloaded
Seller clears the goods for export and bears all risks and costs associated with delivering the goods and unloading them at the terminal at the named port or place of destination.
Buyer is responsible for all costs and risks from this point forward including clearing the goods for import at the named country of destination.
DDP - Delivered Duty Paid
Seller bears all risks and costs associated with delivering the goods to the named place of destination ready for unloading and cleared for import.
DDP is a risky term for the seller, because they may not be fully aware of the import clearance procedures in the country of import or how to find a competent local customs broker.
It’s also of questionable value to importers, since they must depend on the seller to successfully navigate the intricacies of the destination country.
General Terms of Trade
Supply Agreements
Product Price
Payment Terms
We act according to ICC responsible trade practice engaging bank to bank payment terms by 100% Letter of Credit LC (MT700) at sight, Performance Bond and MT103 payment upon satisfaction of LC terms.
Inspection
Quality and Quantity is final according to Certificate of Inspection given by Société Générale de Surveillance (SGS) on inspection at the Loading Port and a CIQ Report is given at the Discharge Port.
Shipping Options
We use any of the INCOTERMS 2020 listed above but mainly FOB-CFR-CIF to numerous destinations as shown in our Trading Ports map below.
Product Ownership
Once the transfer of payment is received we will issue the Certificate of Transfer of Ownership to the Buyer for each and every shipment throughout the supply agreement term.
Current Trading Ports
Port of Manzanillo - Mexico
Port of Lazaro Cardenas - Mexico
Port of Valparaíso - Chile
Port of Callao - Peru
Port of Dar es Salaam - Tanzania
Port of Durban - South Africa
Port of Richards Bay - South Africa
Port of Vila do Conde - Brazil
Port of Santos - Brazil
Port of Rio de Janeiro - Brazil
Copper Concentrate, Sugar
Port or Dapilon - Guinea
Port of HK
Port of Shanghai - China
Port of Qingdao - China
Our Partners
Inspections by SGS
Société Générale de Surveillance (SGS) is the world’s leading inspection, verification, testing and certification company.
Logistics by Bolloré
Bolloré Logistics is a global leader in international transport & logistics and one of the top 10 transport and logistics companies in the world.
Logistics by Steinweg
ICC Compliance
ICC is the institutional representative of more than 45 million companies in over 100 countries. Our mission is to make business work for everyone, every day, everywhere.