Incoterms 2020 rules are the latest revision of international terms of trade published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to parties conducting international transactions. Incoterms 2020 rules outline whether the seller or the
Since the first chatbot was created in the 1960s, technological advances in AI have made them much more sophisticated in recent years and now they are increasingly appearing in the federal government domain. The International Trade Administration (ITA), an agency of the U.S. Department of Commerce, has launched the
In India, an export license is a document issued by the Directorate General of Foreign Trade (DGFT) that authorizes the export of specific goods, particularly those classified as “restricted” under the Indian Trade Classification (ITC) system Purpose: An export license is a formal permission granted by
A proposed fee structure from the U.S. Trade Representative (USTR) targeting Chinese-built ships could cost the container shipping industry over $106.9 billion annually, sparking fears of widespread disruptions to global trade, warns maritime expert John McCown. Read also: Charting a Course Through the Tariff Blitz, Shifting Trade Policies, and
Since the beginning of time, trade and commerce have been fundamental to human interaction. When someone possessed something that another person desired, they negotiated a deal, exchanged the item, and effectively became an exporter of that good or service. (more…)
In Domestic or International Businesses, both Supply Chain Management and Logistics are an integral part of the business. Here we explain the both. Supply Chain Management Supply chain management means streamlining all the activities involved in the production of goods, from obtaining the raw materials to transporting the finished
On July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) replaced the North American Free Trade Agreement (NAFTA) as the primary instrument to eliminate duties on certain qualifying products traded among the three countries. Now, several years later, exporters continue to rely on USMCA to access preferential tariff treatment, but
The recent increase in tariffs on Chinese goods, coupled with new restrictions on de minimis shipments under Section 321, has created significant challenges for importers and logistics providers alike. What was once a streamlined process for small package imports has become a complex logistical puzzle. Read also: How Shippers
India, a rapidly growing economic powerhouse, has established itself as a major player in international trade. With a strategic location, a robust manufacturing base, and diverse export offerings, India’s success hinges on an efficient and well-integrated transportation network. In this article, we’ll explore the modes of
Reading Time: 4 minutesAre You Considering Exporting Agricultural Products? Let Us Discuss! Have you ever thought of expanding your agricultural business outside the borders and boundaries that are known to you? And there you have the global market, and demand for Indian agricultural products has surged way up. But
