What's New
Trade Related
The Incoterms 2010 rules
Date added: 31/08/2010The new set of international trade terms - commonly known as Incoterms - will come into force on 1/1/2011 as Incoterms 2010. They will be announced at the end of September 2010 at the ICC in Paris. There is said to be a number of significant changes scheduled especially to Group D terms such as the current DDU term.
Books and charts covering the new set can be pre-ordered from Strong & Herd now for delivery in October 2010. Incoterms is a registered trademark of the International Chamber of Commerce.
^ TopUK - EC Iran Sanctions increased
Date added: 30/08/2010On 27 July 2010, the EU imposed its toughest sanctions regime yet on Iran, with ramifications for energy, insurance, transport and financial sectors. The EU sanctions are considerably broader and more stringent than those imposed by the UN, which were focused on preventing the sale and supply of goods used in nuclear production and missile development to Iran. The new EU sanctions aim at energy, financial and transport sectors, and at entities connected with the Iranian government. The sanctions are applicable to all EU member states and extend over several key areas.
^ TopUpdate: New security procedure USA - 10+2 Rule
Date added: 26/06/2009If you ship to the USA by sea freight you need to find out whether your customers and forwarders are aware of the new security procedure that was published on 25 November 2008. "importer Security Filing and Additional Carrier Requirements" (aka ISF or 10+2 Rule) was said to come in on 26 January 2009 but there is a 12-month implementation period. 10+2 Rule is a pair of new security filings that must be made by importers to the US Customs and Border Protection Agency (CBP). The new regulations ultimately stem from the Safe Port Act of 2006 and officially called the Import Security Filing. It is known as 10+2 because it requires two electronic filings for imported goods - one consisting of ten data elements, and then two additional ones as the goods move closer to the inbound port. The ruling requires importers of their designated agents to file 10 types of data elements 24 hours prior to vessel lading overseas. The vessel operator will have to submit the other 2 data elements 48 hours from the vessel departure from the foreign port. many carriers are no establishing information processing system connections to file both "ISF5" and "ISF10" message sets to comply with these new regulations. Perhaps the most difficult piece of information required is the country of origin and name of the manufacturer. Additional information can be found on www.cbp.gov and questions may be sent to Security_Filing_General@cbp.dhs.gov .
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