International commercial transactions are facilitated by globally recognised commercial terms known as Incoterms. These terms define the responsibilities of buyers and sellers in international trade, and the International Chamber of Commerce (ICC) has published Incoterms since 1936. The latest version, Incoterms 2020, was published on September 10, 2019. In this blog post, we will provide an overview of the Incoterms 2020.

What are Incoterms?

Incoterms are standard trade terms used in international trade contracts to define the responsibilities of buyers and sellers regarding the delivery of goods. These terms specify who is responsible for paying for transportation, insurance, taxes, customs clearance, and other expenses related to the shipment of goods. Incoterms are not laws, but they are recognised and used by businesses and governments worldwide.

What’s New in Incoterms 2020?

Incoterms 2020 introduced several changes and updates to the previous version, Incoterms 2010. Here are the significant changes:

New Incoterms Rules: The Incoterms 2020 introduced a new Incoterm, known as Delivered at Place Unloaded (DPU). This term replaces the previous term, Delivered at Terminal (DAT).

Arranging Transport and Insurance: Under the Incoterms 2020, buyers and sellers must agree on who will arrange transport and insurance for the goods. The Incoterms also provide guidance on how to handle these arrangements.

Security Requirements: The Incoterms 2020 provide guidance on security requirements related to the shipment of goods, such as cargo inspection, packaging, and labeling.

Bills of Lading: The Incoterms 2020 clarify the responsibilities of buyers and sellers regarding the bills of lading, which is a document that provides evidence of the contract of carriage.

Cost Allocation: The Incoterms 2020 provide clear guidance on cost allocation related to the shipment of goods, such as loading and unloading costs, customs duties, and taxes.

Incoterms 2020 Rules

The Incoterms 2020 are divided into two groups based on the mode of transport used:

Incoterms for any mode of transport:

EXW (Ex Works)

FCA (Free Carrier)

CPT (Carriage Paid To)

CIP (Carriage and Insurance Paid To)

DPU (Delivered at Place Unloaded)

DAP (Delivered at Place)

DDP (Delivered Duty Paid)

Incoterms for sea and inland waterway transport:

FAS (Free Alongside Ship)

FOB (Free on Board)

CFR (Cost and Freight)

CIF (Cost, Insurance, and Freight)

Conclusion

Conclusion

Incoterms 2020 are a set of globally recognised commercial terms used in international trade to define the responsibilities of buyers and sellers regarding the delivery of goods. These terms were updated in 2020 to provide more clarity and guidance on issues such as security requirements, bills of lading, cost allocation, and arrangements for transport and insurance. Understanding and using Incoterms can help businesses avoid misunderstandings and disputes in international trade contracts.

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Understanding Customs Regulations in Ireland

Customs regulations in Ireland are a critical aspect of international trade. As a member of the European Union (EU), Ireland has specific customs regulations that apply to imports and exports between Ireland and other EU member states, as well as regulations that apply to trade with non-EU countries. Understanding these regulations is essential for businesses involved in international trade to ensure compliance and avoid penalties and delays. In this blog post, we will explore in-depth the basics of customs regulations specific to Ireland, including what they are, why they exist, and how they impact businesses.

What are Customs Regulations in Ireland?

Customs regulations in Ireland are a set of rules and procedures that govern the movement of goods across international borders. The regulations are designed to protect public health, safety, and the environment, as well as to ensure that appropriate revenues are collected for goods entering and leaving the country. The regulations apply to businesses that import or export goods to and from Ireland, as well as to transport companies that move goods across borders.

Why do Customs Regulations Exist in Ireland?

Customs regulations in Ireland exist for several reasons. First and foremost, they are designed to protect public health, safety, and the environment. Customs regulations ensure that goods entering the country meet certain standards, such as product safety and quality standards. They also help to prevent the importation of dangerous or harmful goods. Additionally, customs regulations exist to protect national security and to prevent illegal trade. Finally, customs regulations are in place to ensure that appropriate revenues are collected for goods entering and leaving the country, through the collection of import duties and value-added tax (VAT) on imported goods.

How do Customs Regulations Impact Businesses in Ireland?

Customs regulations can have a significant impact on businesses involved in international trade. To comply with customs regulations in Ireland, businesses must complete customs declarations and provide documentation to support the shipment of goods. Failure to comply with these regulations can result in delays in the movement of goods or fines and penalties.

To comply with customs regulations in Ireland, businesses must have a good understanding of the specific requirements for their products and the countries they are trading with. This may include understanding product standards, tariffs, and licensing requirements, as well as customs procedures and documentation requirements. Businesses may also need to work with customs brokers or freight forwarders to ensure compliance with regulations and to facilitate the movement of goods across borders.

In addition to complying with customs regulations when importing or exporting goods, businesses in Ireland must also comply with other regulations that may impact their operations. These may include regulations related to product safety, environmental standards, and employment laws.

Conclusion

Customs regulations in Ireland are a critical consideration for businesses involved in international trade. Understanding these regulations, including what they are, why they exist, and how they impact businesses, is essential for compliance and successful trade. By working with Beagans Limited your Customs Broker and staying up to date on regulatory changes, businesses can navigate customs regulations in Ireland and ensure the smooth movement of goods across borders.

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Email:

clearance@beagans.com

If you are an Irish exporter, it is essential to understand the role of EU certificates of origin. A certificate of origin is an official document that identifies the origin of goods. It is required by customs authorities in the destination country to determine the correct rate of duty and tax to be applied to imported goods. In this blog post, we will explore EU certificates of origin, their importance for Irish exporters, and the process of obtaining them.

What is an EU Certificate of Origin?

An EU certificate of origin is a document that certifies that a particular export product was manufactured, produced or processed in a specific country. This document is required by customs authorities in the importing country to determine the origin of the goods and to apply the correct rate of duty and tax.

EU certificates of origin are issued by authorised bodies, such as Chambers of Commerce or other trade associations. The certification process involves verifying the information provided by the exporter, such as the origin of the goods, the value, and the weight of the products, as well as any other necessary details.

Why are EU Certificates of Origin important for Irish exporters?

Irish exporters need EU certificates of origin to export goods to countries outside of the EU. Without this document, the customs authorities in the importing country may not allow the goods to enter, or they may impose a higher rate of duty and tax. This can make the export of goods more expensive and less competitive.

Furthermore, EU certificates of origin are required to qualify for preferential trade agreements, such as the EU’s Generalized System of Preferences (GSP). These agreements offer reduced or zero tariff rates for exports from developing countries and can provide Irish exporters with a competitive advantage.

How to obtain an EU Certificate of Origin?

To obtain an EU certificate of origin, Irish exporters must apply to an authorised issuing body, such as Beagans Limited. The application process usually involves providing information about the goods, such as their origin, value, and weight.

The issuing body will then verify the information and issue the certificate if all requirements are met. 

Conclusion

In summary, EU certificates of origin are essential for Irish exporters to ensure the smooth and cost-effective export of goods to countries outside of the EU. They are required by customs authorities to determine the correct rate of duty and tax and are necessary to qualify for preferential trade agreements. To obtain an EU certificate of origin, Irish exporters must apply to an authorized issuing body and provide the necessary information about the goods.

Beagans Limited is a trusted provider of European Union (EU) Certificates of Origin and
has been helping Irish exporters to navigate the complexities of international
trade for over 70 years. 

Contact us today to request your European Union (EU) Certificates of Origin.

All services provided by Beagans Limited can be found here!

Contact Details:

Email:

clearance@beagans.com