Marine Insurance – Not Just for Your Cargo

What are the chances you will lose a shipment during transit?  Is it worth spending the money to insure it, especially if it’s a low value item?

The cost of losing your shipment may be a lot more than just the cost of your cargo.

A little known fact about maritime law is when you put your cargo on a vessel, you actually enter into a joint venture with the shipping line and every other Shipper with cargo on that voyage.

What this ...

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Understanding Incoterms – FOB (Free on Board)

If you are an importer or exporter there are a number of International Commercial Terms (otherwise known as Incoterms) you should be familiar with. In this article we’re going to look at what FOB (or Free on Board) means.

When buying goods FOB basically the seller is responsible for getting the goods on the vessel ready for export. For a shipment to qualify as FOB the following terms needs to be met:

  • The seller must load themselves the goods on board the vessel nominated ...
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Duty & GST on Imported Goods

What duties and taxes will be applied to the goods I have purchased from the internet when they arrive?

Low value consignments up to AU$1,000 are imported free of Customs duty and taxes.Consignments of alcohol and tobacco products are excluded from this and will be charged Customs duty and taxes.

Consignments valued over AUD $1000 will be assessed for Customs duty and taxes. Duty rates vary from 0% to 10%, however most goods attract a 5% rate of import duty and ...

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