International Trade Blog

Incoterms 2020 rules are the latest revision of international trade terms published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to the parties conducting international transactions.

Incoterms 2020 rules outline whether the seller or the buyer is responsible for, and must assume the cost of, specific standard tasks that are part of the international transport of goods. In addition, they identify when the risk or liability of the goods transfer from the seller to the buyer.

In this article, we’re discussing the Incoterm FAS, also known as Free Alongside Ship.

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The International Chamber of Commerce (ICC) has released the new Incoterms 2020 rules that identify the responsibilities of buyers and sellers for the delivery of goods in international trade. The terms also identify when the risk for those goods transfer from the seller to the buyer.

The new terms take effect on January 1, 2020.

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As an exporter, you’re probably familiar with the Harmonized System (HS) and Schedule B codes, but you may not be as familiar with the role of the Harmonized Tariff Schedule, or HTS, codes.

In this article, we’ll cover the basics of the HTSUS, including what it is, when it should be used, and why Schedule B codes are a better option for companies that export only.

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Successful companies use metrics or key performance indicators (KPIs) to measure aspects of their performance. Often times, these metrics or KPIs apply to sales, marketing or manufacturing. But they can—and should—be used in import and export compliance functions, too.

When effectively applied, trade compliance metrics drive process efficiencies, provide better visibility, and promote the efforts of the trade compliance group to the executive team and throughout the entire organization.

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One of the most costly mishaps an exporter can face is to get their goods to the destination and realize that something was overlooked. Either they made a mistake, the deal was structured incorrectly, or responsibility was overlooked.

Often, this happens because sellers get seduced by the thought of a sale and put on blinders for the realities of it. Unfortunately, they end up in a difficult and costly situation because they didn’t think about what steps needed to be taken.

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“Keeping out the bugs” has become the worldwide mantra for exporters and importers. The bug that gained everyone’s attention in the United States was the Asian Long Horn Beetle, while other countries are concerned with the Pine Worm Nematode plus many other.

There are more than 85 countries that have adopted the International Standards for Phytosanitary Measures No. 15 (ISPM 15) regulation for wood packaging since its inception in 2001, according to the Pacific Lumber Inspection Bureau (PLIB). The regulation applies to wood packaging materials (WPM) made from softwood or hardwood.

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In my last article I discussed the importance of properly classifying products imported into the United States. As I stated, the Harmonized Tariff number determines the duty rate that U.S. Customs applies to imported products.

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In many companies the art of moving goods across international borders is viewed as black magic. In fact, I have a colleague who keeps a magic wand in his desk just for such emergencies.

When someone from the inventory or shipping department begins screaming about back orders and delays at customs, he simply produces the potent wand, whisks it mindlessly through the air, and presto-chango the consignment appears… sometimes.

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Dear Cathy:

I have a question regarding the use of Schedule B Codes relating to spare parts.

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We live in uncertain economic times. But I believe that we learn far more about how to grow stronger companies in lean times than in times of plenty.

That said, this month I am sharing some of my hard-won marketing advice that I often give to internationalizing clients in B2B markets.

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