What they mean and how to pick one. Incoterms® were established by the International Chamber of Commerce (ICC) in 1921 and have become a crucial element in global trade, defining the responsibilities of buyers and sellers in international transactions. In this webinar, we’ll provide a high-level overview of Incoterms®, delve into their complexities, and simplify their application in various trade scenarios. You’ll gain a clear understanding of how to use Incoterms® to allocate risks and costs effectively, ensuring smoother international transactions.
Trade News
CSMS: Clarification on When Part 122 Subjugates to Part 18
Cargo and Conveyance Security posted a message to clarify when Part 122 (Air Commerce) defers to Part 18 (Air BOLs transferred to Truck/Rail Mode of Transport) and how to report. Read More
CSMS: New Instructional Video on Filing Claims in ACE
The Office of Trade, Trade Policy and Programs, has developed a brief instructional video for first-time drawback filers on how to file a claim in ACE. Read More
CSMS: There’s a new DDTC element in AES
This Department of State, Directorate of Defense Trade Controls (DDTC) new data element collection will help ensure that only commodities that have been determined to be controlled in USML Category XXI by the Director of DDTC’s Office of Defense Trade…
CSMS: Registration for the October 2023 License Exam opens August 14
Additionally, beginning with the October 25, 2023 exam, each CBLE question will have four possible answers. This is a change from prior exams where each CBLE question had five possible answers. Read More
CSMS: Customs User Fees are Changing
Pursuant to the General Notice (88 FR 48900) published July 28, 2023, adjustments to certain customs user fees and corresponding limitations, as codified in 19 U.S.C. § 58c, will take effect on October 1, 2023. Read More
OFAC: “Introduction to OFAC” Web Series
The “Introduction to OFAC” web series is a series of short videos created to provide viewers with a high-level introduction on the fundamentals of the Treasury Department’s Office of Foreign Assets Control (OFAC) and U.S. sanctions implementation. Read More
Federal Reserve: Announced Enforcement Actions
The Federal Reserve Board on Wednesday announced two enforcement actions against Deutsche Bank AG, its New York branch, and other U.S. affiliates. Read More
National Law Review: The U.S. Adopted a New Sanctions Strategy
Since the February 2022 Russian invasion of Ukraine, the U.S. has adopted a new, more aggressive sanctions strategy, increasingly going after parties who enable sanctioned businesses and individuals to conduct business and shield their wealth. Read More
EU: European Commission Publish Guidance for Operators
The EU published guidance for operators’ due diligence against Russia sanctions circumvention. There’s 11 pages of risk review and mitigation measures that are great practices. Read More
CBP: Seized Unpermitted Wildlife Products
CBP seized two shipments, one of taxidermized birds, the other of horned mammal skulls. CBP officers detained both shipments and consulted with inspectors from the U.S. Fish and Wildlife Service (USFWS) who advised CBP that the wildlife products violated U.S.…
WTO: Press Release
The WTO press release about the publication of the 2023 World Tariff Profiles. Read More
CBP: Published the quarterly IRS Interest Rates
CBP has published the quarterly IRS interest rates used to calculate interest for underpayments and overpayments of customs duties. Read More