For example, if a GST-registered seller delivered goods to a purchaser outside Canada (such that no GST/HST would be chargeable on the supply), arranged for freight to ship the goods to the purchaser in Canada (e.g., by using the CFR Incoterm
), and agreed to act as the importer of record, the purchaser would be the "constructive importer" because the purchaser acquired the goods outside Canada, and the goods were imported only after this time.
If we assume that the seller completes its obligation to deliver at the delivery points included in the Incoterms
and/or has provided the appropriate document of title (bill of lading, warehouse or other receipt), title is likely to have transferred from the seller to the buyer at the point of delivery.
Transit times, incoterms
, rapid customs clearance, sourcing decisions, pipeline inventory, etc.
Assuming that the seller's obligation is completed at the delivery points included in the incoterms
and/or the appropriate document of title is provided, title is likely to have transferred from the seller to the buyer at the point of delivery.
(7.) "FOB," one of the 11 Incoterms
, means Free on Board.
Neither of the extreme ends of that spectrum is advisable in most instances, but there are many factors that figure into a seller's choice of Incoterm
, including the type of goods being sold and the amount of control they want over the transaction.
Assuming the banker is willing to accept as evidentiary documentation a signed truck bill for an EXW transaction or other signed document for an "F" Incoterm
sale, this can provide much greater flexibility.
For the past decade, Incoterms
2010 has provided critical guidance to importers, exporters, lawyers, transporters and insurers across the world.
(This is one of only two INCOTERMS
which contains an obligation to provide insurance.
These revised set of INCOTERMS
is a more concise version of the previous one and more relevant to business transactions and cargo security issues which are now at the forefront of the transportation agenda of all countries and governments.
These are designed to help you get to grips with all the different aspects of exporting and importing; everything from incoterms
to documentary letters of credit to import procedures.
Au programme du seminaire, figurent notamment l'assurance des entreprises et le developpement economique, le digital: les nouvelles technologies et l'evolution des metiers d'assurances, les obligations reciproques entre assures et assureurs ainsi que l'assurance des transports et les incoterms