All international commerce transactions rely on two essential types of papers import and export documents. These documents orchestrate a long chain of actions. From offering the parties that are responsible for import and export with accounting data, the companies that are handling shipping and transportation with what needs to be done with a particular parcel, and the banks with the right tools to ensure that the payment is collected. The documents that ensure a smooth process of import and export are of different types and classifications. Some documents are official, some commercial, while others are related to insurance and finance. Purchase Order This document acts as official confirmation that an ordered has been processed. It contains vital information about the nature of the transaction, the parties that partake in it, the nature of the goods, and the date that this agreement has been signed. This document covers an entire set of essential functions. First, the help cl...
In 2010, the International Chamber of Commerce (ICC) updated the previous version of INCOTERMS (2000) in order to adapt these commercial tools to the new global and computerized economy as well as to evolutions of transport and logistics. These rules have been applied since January 1st, 2011. INCOTERMS (International Commercial Terms) define the seller and buyer’s obligations in a commercial transaction. They aim to fix some international and homogeneous rules by inserting contractual dispositions mainly used in external trade contracts. We can therefore avoid or at least significantly limit uncertainties surrounding controversial interpretations of some clauses in different countries. These rules have been created by the ICC in 1936 and have been then regularly updated according to the use. Whether these rules are not mandatory, they are valuable assets to international commerce operators. INCOTERMS indicate precisely the obligations, distribution of expenses and risks relevant to...