Trading Agreements

Action Plan Point 1.

Establish your Trading Agreements

You need to agree between buyer and seller who is responsible for the additional costs that will arise.

You may be familiar with Incoterms® but we suggest sticking to simple principles when having discussions with your trading partners. You will already have agreements as to the cost of goods and who pays the freight charges. You will now need to add to your agreements who will pay for the Export Declaration, who will pay for the Import Declaration and in the event of no deal, who will pay for the duty.

We are able to arrange to invoice these charges to mirror the agreement reached with your trading partner and advise what the Incoterm is that best reflects your agreement. Please note we would strongly recommend you do not agree to terms like DDP or EXW without fully understanding the implication of this as it will significantly increase the cost of the customs work to operate to these extreme terms.

TAKE ACTION

Review your trading agreements and discuss payment of Export Declarations, Import Declarations and possibly Duty.

 

Don’t Forget

Our European Customs trained team have an in-depth knowledge of your account and the requirements for your shipments.

For all Brexit related questions and confirmation of how you want us support you from January onwards please use the specific email address brexit@twente.co.uk