What is "ExWorks" EXW Ex-works, EXW, or ex-factory delivery method is the least risky and most straightforward mode of transportation for exporters and vendors among the 11 different delivery methods included in Incoterms 2020. The term "EXW" means that the seller delivers the goods at...
What is Maritime Insurance? It is a type of insurance covering the risks that may occur during the transportation of insured goods transported by sea from one place to another. Cargoes transported by ship are faced with different threats when unloading and loading both at sea,...
Harmonized System (HS Code) is the main parts of Tariff codes, also known as "The Harmonized Commodity Identification and Coding System" or The Harmonized System", is an international standardized system for classifying products traded globally. "HS Code" is a multipurpose international product nomenclature developed by...
Import/export business is one of the popular business types in the globalization process. We witnessed the last decade is the higher state of growing international business and the free market economy dominating the whole world. The removal of restrictions on trade and travel between countries, the...
Public holidays practised in China significantly match festive periods. Therefore, Chinese public holidays are the days when shops, restaurants and entertainment centres are open. When planning a business trip to China, dates that do not coincide with the public holiday calendar should be selected, especially if...
What Is MOQ (Minumum Order Quantity) Manufacturers or wholesale companies determine the minimum number of products that can be ordered, arising from production or supply processes, various expense items such as packaging, shipping. This is roughly the minimum order quantity, i.e. "MOQ". The reasons determining the...
The International Chamber of Commerce (will shorten it as ICC in the rest of the article.) has released the “ICC Incoterms® 2020” on September 10, 2019. Basically it's the updated version of ICC Incoterms® 2010 include international trade terms for the sale of goods. Incoterms® represent...