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¿What incoterm is better for import?
In general, I always advise against importing maritime groupages under CFR conditions. The reason is that the destination costs are usually very high and totally unknown when you buy the goods. If for any reason you prefer to have the goods delivered to you freight paid, I suggest you ask for a DAP price, although it will most likely end up being more expensive than an FOB plus your own transport cost, as not to mention losing control over the shipment.
¿What is a commercial invoice?
This is the invoice issued by the supplier, which clearly shows your company name and address, the supplier's, the description of the goods, the price and the conditions of sale (e.g. "FOB Shanghai" or "CFR Barcelona Port").
¿What is a shipping company?
It is a company that operates with vessels on loan from shipowners. It acts as a charterer in charter policies and/or as a carrier in international shipping contracts (B/Ls)
¿What is a Packing List?
It is a document that the supplier must make in a clear and precise way a list with the content of the shipment, identifying the packages, the unit and total weight, the measures of each package, when possible the references, etc. It is especially important in the case of groupages.
¿What is a Bill of Lading (BL)?
This is the document issued by the freight forwarder at origin and delivered to your supplier. In general, your supplier will send it to you when you have paid him (or before if you have credit conditions) and it is with this document that the forwarder will be able to deliver the goods to you. You should pay special attention to the number of originals that BL himself mentions (pronounced 'be ele'): you will need all of them to deliver the goods. The exception to this is that, as explained above, the BL is of the "Express" type in which case the BL will not be necessary to have the merchandise although it will be necessary to carry out the customs clearance.
¿What is a Certificate of Origin?
It is when the merchandise and the origin of the same are subject to a customs duty but can apply for some kind of benefit, it will be necessary the official document that proves, precisely, that origin. Generally, it will be a "FORM A".
¿Is international freight insurance coverage mandatory?
Insurance coverage for international transport of goods is not mandatory. However, the exporter is obligated to take out international transport insurance in cases where in the international sales contract the parties have agreed to CIF or CIP conditions at the destination. When other Incoterms terms are used, the contracting of the international transport insurance is optional for whoever has the risk.