International Trade

Warsaw Convention

Air Waybill I The air waybill must specify the place of departure and destination; if within a single territory, any one of any stops outside the territory; notice that if the carriage involves destination or a stop in a country other than the country of departure, that the amended Warsaw Convention may be applicable and that in most cases, it limits the liability of the carrier in respect of loss or damage to cargo.… Read the rest

Warehousing

Types of Warehouse Customs warehousing is a procedure by which non-EU goods may be stored in EU territory without being subject to import duties. Duty becomes payable when the goods are released into free circulation. A warehouse may also be authorised as a tax warehouse. … Read the rest

Valuation

Customs Duty Valuation. Customs duties are usually charged ad valorem, that is value-based. Common customs tariff duties are based on a valuation of the goods. The rate is specified by the code in the tariff. EU Regulations encompassing the Code sets out the rules on valuation. … Read the rest

Uniform Credit Rules

UCP Rules In international trade, the documents will commonly comprise a bill of lading which gives title to the goods and related documents. This facilitates the exchange of the payment instrument for the documents to the goods, which carry the entitlement to the possession and ownership of the goods themselves.… Read the rest

Transport of Goods

Transportation of Goods The best option for the transport of goods on export will depend on the destination and on the type of goods concerned. The following options may be available: air freight; carriage by sea; roll on roll off ferry transport / transport by road; consolidation of consignments by a freight forwarder; express courier.… Read the rest

Transit Procedures

Transit Procedures Transit procedures facilitate the free movement of goods through the EU and third countries, by temporarily suspending duties and charges until they reach their final destination. There are three types of transit procedures. Community Transit applies to movement of goods within the EU territories only.… Read the rest

Trading Abroad

Entering Overseas Markets The export potential of a business should be considered both in terms of its readiness to trade abroad and the suitability of its products and services for overseas consumption. Market research is vital to identify and evaluate the target market.… Read the rest

Tariff Issues

The EU Common Customs Tariff The European Unions Common Customs Tariff sets out the rules and the rates of duty applicable to imports into the European Union. The EU Common Customs tariff is a three volume guide setting out custom duties and other relevant information applicable to the import and export of goods.… Read the rest

Standardisation

Uniform International Trade Rules Because international trade involves multiple jurisdictions, various international bodies, governmental and private trade bodies have developed uniform rules, forms and conventions in order to facilitate trade. Some uniform rules are intended to apply to all international trade transactions of a particular type.… Read the rest

Special Risks

Special Risks There are special risks, which are set out below, the presence of which may exonerate the carrier. If the carrier shows on the balance of probability, that damage could have been due to one of these risks, it is presumed that it was so caused.… Read the rest