Incoterms 2020: The Definitive Guide

Term Full Name Transfer of Risk Cost Responsibility
EXW Ex Works At seller's premises. Buyer pays all costs from seller's door.
FCA Free Carrier Delivered to first carrier. Seller pays for transport to named place.
FOB Free On Board Once goods are on the vessel. Seller pays for export clearance & loading.
CIF Cost, Insurance & Freight Once goods are on the vessel. Seller pays freight & insurance to port.
DAP Delivered At Place At named destination (not unloaded). Seller pays all to destination (except duties).
DDP Delivered Duty Paid At named destination (unloaded). Seller pays ALL (freight, insurance, taxes).

* All terms should be prefixed with "Incoterms® 2020".

Container Fleet: Technical Specifications

Standardized dimensions for global ocean freight orchestration. Tare weights may vary by manufacturer.

Type Internal (L x W x H) mm Tare Vol. (Cubic) Max Payload
20' Dry Freight 5,900 x 2,350 x 2,392 33.1 CBM 24,800 KG
40' Dry Freight 12,045 x 2,309 x 2,506 67.0 CBM 27,500 KG
40' High Cube 12,056 x 2,347 x 2,684 76.0 CBM 29,600 KG
45' Dry High Cube 13,582 x 2,347 x 2,690 85.7 CBM 28,600 KG
40' Reefer HC 11,583 x 2,286 x 2,544 67.3 CBM 28,200 KG

The GATT (General Agreement on Tariffs and Trade) Declaration is a mandatory customs valuation document filed by importers in India alongside the Bill of Entry. It declares that the invoiced value of the imported goods is truthful and reflects the actual transaction value to ensure accurate duty assessment.

A compliant Export Invoice must contain: the exact Consignee and Notify Party details, a precise description of goods, accurate HS codes (Harmonized System), the negotiated Incoterms 2020 (e.g., FOB, CIF), unit prices, total value, currency, and the country of origin. Any errors or lack of clarity can cause customs holds.

A Letter of Credit is a bank guarantee ensuring payment. To handle it correctly, the shipper must ensure every single document (Bill of Lading/AWB, Commercial Invoice, Packing List, Insurance Cert) matches the L/C terms letter-for-letter. Even a slight typo in the consignee name can cause discrepancies and delayed payments.

Always inspect the container for holes and cleanliness before stuffing. Follow the "heavy on bottom, light on top" rule for weight distribution. Balance the load evenly across the floor to maintain stability during ocean transit. Use proper dunnage, lashing, and blocking materials to ensure cargo does not shift during turbulent voyages.

To register for EDI (Electronic Data Interchange) at Indian customs, exporters need an AD Code (Authorized Dealer Code) letter from their bank, an Exporter/Importer Profile, IEC (Import Export Code) copy, PAN card, GST registration, and bank account details for DBK (Duty Drawback) crediting.

A Packing Declaration is a mandatory document for shipments heading to specific countries (like Australia or the US) confirming the type of packing materials used. It specifically declares whether timber/wood packaging was used, and if so, proves it was treated (ISPM 15 compliant) to prevent agricultural contamination.