B7 definition

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Incoterms® 2020 Rules—DAP Delivered at place

Incoterms® 2020 Rules—DAP Delivered at place This Practice Note comprises the guidance note to the DAP Delivered at place Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the DAP Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—DAP Delivered at place. DAP (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Delivered at Place’ means that the seller delivers the goods—and transfers risk—to the buyer • when the goods are placed at the disposal of the buyer • on the arriving means of transport ready for unloading • at the named place of destination or • at the agreed point within that place, if any such point is agreed. The seller bears all risks involved in bringing the goods to the named place of destination or to the agreed point within that place. In this Incoterms® rule, therefore, delivery and arrival at destination are the same. 2. Mode of transport This rule may be used irrespective of

Incoterms® 2010 Rules—EXW Ex works

Incoterms® 2010 Rules—EXW Ex works The ICC publications are produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2010 rules were replaced by Incoterms® 2020 rules with effect from 1 January 2020. For the EXW Incoterm applicable from 1 January 2020, see Practice Note: Incoterms® 2020 Rules—EXW Ex works. EXW (insert named place of delivery) Incoterms® 2010 Guidance note This rule may be used irrespective of the mode of transport selected and may also be used where more than one mode of transport is employed. It is suitable for domestic trade, while FCA is usually more appropriate for international trade. ‘Ex Works’ means that the seller delivers when it places the goods at the disposal of the buyer at the seller’s premises or at another named place (ie, works, factory, warehouse, etc). The seller does not need to load the goods on any collecting vehicle, nor does it need to clear the goods for export, where such clearance is applicable. The parties are well advised to specify as clearly as possible the point within the named place of delivery, as the costs and risks to that point are for the account of the seller. The

Incoterms® 2020 Rules—DPU Delivered at Place Unloaded

Incoterms® 2020 Rules—DPU Delivered at Place Unloaded This Practice Note comprises the guidance note to the DPU Delivered at Place Unloaded Incoterm in the Incoterms® 2020 rules, produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For the corresponding DPU/DAT Incoterm valid up until that date, see Practice Note: Incoterms® 2010 Rules—DAT Delivered at terminal. DPU (insert named place of destination) Incoterms® 2020 Explanatory notes for users 1. Delivery and risk ‘Delivered at Place Unloaded’ means that the seller delivers the goods—and transfers risk—to the buyer • when the goods, • once unloaded from the arriving means of transport, • are placed at the disposal of the buyer, • at a named place of destination, or • at the agreed point within that place, if any such point is agreed. The seller bears all risks involved in bringing the goods to and unloading them at the named place of destination. In this Incoterms® rule, therefore, the delivery and arrival at destination are the same. DPU is the only Incoterms® rule that requires the

Incoterms® 2020—introduction

Incoterms® 2020—introduction This Practice Note comprises the introduction to the Incoterms® 2020 rules produced here with the permission of ICC Publishing SA. Incoterms® 2020 rules and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2020 rules came into force on 1 January 2020, and updated the Incoterms® 2010 rules to reflect changes to the market over the last decade. For an introduction to the Incoterms® 2010 rules, see Practice Note: Incoterms® 2010—introduction. Foreword By John W.H. Denton, AO, ICC Secretary General The growth of the global economy has given most businesses greater access than ever before to markets all over the world. Goods are sold today in more countries, in larger quantities, in greater variety, and at a faster pace as a result. But as both the volume and complexity of global trade increase, so do possibilities for misunderstandings and costly disputes when sale contracts are not adequately drafted. The ICC Incoterms® rules on the use of domestic and international trade terms address this risk by facilitating the conduct of global trade. Reference to an Incoterms® 2020 rule in a contract for the sale of goods clearly defines the parties’ respective obligations regarding topics such as risk, cost and arrangement of transport and customs

Incoterms® 2010 Rules—CIP Carriage and insurance paid to

Incoterms® 2010 Rules—CIP Carriage and insurance paid to The ICC publications are produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2010 rules were replaced by Incoterms® 2020 rules with effect from 1 January 2020. For the CIP Incoterm applicable from 1 January 2020, see Practice Note: Incoterms® 2020 Rules—CIP Carriage and insurance paid to. CIP (insert named place of destination) Incoterms® 2010 Guidance note This rule may be used irrespective of the mode of transport selected and may also be used where more than one mode of transport is employed. ‘Carriage and Insurance Paid to’ means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between the parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIP the seller is required to obtain insurance only on minimum cover. Should the buyer wish to

Incoterms® 2010 Rules—CFR Cost and freight

Incoterms® 2010 Rules—CFR Cost and freight The ICC publications are produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2010 rules were replaced by Incoterms® 2020 rules with effect from 1 January 2020. For the CFR Incoterm applicable from 1 January 2020, see Practice Note: Incoterms® 2020 Rules—CFR Cost and freight. CFR (insert named port of destination) Incoterms® 2010 Guidance note This rule is to be used only for sea or inland waterway transport. ‘Cost and Freight’ means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. When CPT, CIP, CFR or CIF are used, the seller fulfils its obligation to deliver when it hands the goods over to the carrier in the manner specified in the chosen rule and not when the goods reach the place of destination. This rule has two critical points, because risk passes and costs are transferred at different places. While

Germany behavioural investigations—closed cases tracker

Germany behavioural investigations—closed cases tracker This table summarises completed investigations by Germany’s competition authority (the Bundeskartellamt—BKa) into alleged cartels, anti-competitive agreements, abuses of dominant positions (Articles 101/102 TFEU and national equivalents) and sector inquiries since 2015. Note—only decisions that have been made public are included in this table. 2022 Investigations under Article 101 TFEU/Section 53 of the German Competition Act Case name, companies under investigation and industry Issues Developments Construction• Dillinger Hütte• Hochtief Restrictive agreements—bid rigging • Infringement decision announced—08/06/2022; fines totalling €12.5m imposed Grocery retail• 63 Real supermarkets Restrictive agreements—purchasing agreements • Investigation closed—13/04/2022 Breweries• Die Freien Brauer GmbH & Co. KG Restrictive agreements—collective negotiations • Investigation closed—24/03/2022 Mobile communications• Vodafone GmbH• Telekom Deutschland GmbH Restrictive agreements—co-operation project • Investigation closed—23/03/2022 Fuel• Tank & Rast GmbH Restrictive agreements—distribution licences • Investigation closed—10/03/2022; no competition law infringement Transition structures for road bridges• Maurer and Mageba Restrictive agreements—fixing market shares and prices • Infringement decision announced—10/02/2022; fine totalling €7.3m imposed Investigations under Article 102 TFEU/Section 19 of the German Competition Act Case name, companies under investigation and industry Issues Developments Mobility platforms• Deutsche Bahn Concerns that certain forms of behavior and contractual clauses of Deutsche towards mobility platforms constitute an abuse of dominance • Preliminary decision issued—20/04/2022; Transport Layer Security Certificates• Google Abuse of dominance investigation into the modified display of information—in particular about more trustworthy TLS certificates in web browsers, the withdrawal of trust in certain certificate providers and certificates and the increasing trend to shorten the recognised

Relief for income tax losses

Relief for income tax losses Reliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer may deduct reliefs from total income resulting in a net income figure. In order to utilise the reliefs and allowances to their optimum, loss relief should be set off before the deduction of allowances such as the personal allowance and the blind person’s allowance. While this Practice Note sets out the main types of reliefs for losses currently available under the income tax rules, it does not cover corporation tax. Main types of loss reliefs In computing the income chargeable to income tax, provision is made for the deduction of loss relief, subject to various conditions, as follows: • losses in a trade, profession or vocation, including trades etc carried on abroad, as set out in Chapter 2 of the Income Tax Act 2007 (ITA 2007) and trade loss relief for partnerships as set out in ITA 2007, Ch 3 • property business losses as set out in ITA 2007, Ch 4 • employment losses as set out in ITA 2007, Ch 5 • losses on the disposal of certain shares as set out in ITA 2007, Ch 6 • losses from miscellaneous transactions as set out in ITA 2007, Ch 7 Cap on unlimited income tax relief From 6 April 2013, the amount of certain types of reliefs that can be

Incoterms® 2010 Rules—FOB Free on board

Incoterms® 2010 Rules—FOB Free on board The ICC publications are produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2010 rules were replaced by Incoterms® 2020 rules with effect from 1 January 2020. For the FOB Incoterm applicable from 1 January 2020, see Practice Note: Incoterms® 2020 Rules—FOB Free on board. FOB (insert named port of shipment) Incoterms® 2010 Guidance note This rule is to be used only for sea or inland waterway transport. ‘Free on Board’ means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment onwards. The seller is required either to deliver the goods on board the vessel or to procure goods already so delivered for shipment. The reference to ‘procure’ here caters for multiple sales down a chain (‘string sales’), particularly common in the commodity trades. FOB may not be appropriate where goods are handed over to the carrier before they are on board the vessel,

Incoterms® 2010 Rules—CPT Carriage paid to

Incoterms® 2010 Rules—CPT Carriage paid to The ICC publications are produced here with the permission of ICC Publishing SA. These and other ICC publications are available from ICC Publishing SA, 33-43 avenue du Président Wilson, 75116 Paris, France and from ICC United Kingdom, 1st Floor, 1-3 Staple Inn London, WC1V 7QH, United Kingdom, and www.iccwbo.org. Incoterms® 2010 rules were replaced by Incoterms® 2020 rules with effect from 1 January 2020. For the CPT Incoterm applicable from 1 January 2020, see Practice Note: Incoterms® 2020 Rules—CPT Carriage paid to. CPT (insert named place of destination) Incoterms® 2010 Guidance note This rule may be used irrespective of the mode of transport selected and may also be used where more than one mode of transport is employed. ‘Carriage Paid to’ means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between the parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination. When CPT, CIP, CFR or CIF are used, the seller fulfils its obligation to deliver when it hands the goods over to the carrier and not when the goods reach the place of destination. This rule has two critical points, because risk passes and costs are transferred at different places. The parties

View the related News about B7

Dispute Resolution weekly highlights—20 May 2021

This week's edition of Dispute Resolution weekly highlights includes: analysis of a number of key DR developments and key judicial decisions including those of the Court of Appeal in Lifestyle Equities CV v Ahmed (joint and several liability), Donovan v Grainmarket Asset Management (contract interpretation), Alta Trading UK Ltd v Bosworth (jurisdiction) and Ward v Savill (declarations), dates for your diary, details of our most recently published content and other information of general interest to dispute resolution practitioners.

Failure to prepare points of dispute before the hearing fatal to application to set aside $US 3m default costs certificate (National Bank of Kazakhstan v Bank of New York Mellon)

Dispute Resolution analysis: The master held that draft points of dispute were ‘fundamental’ to the hearing of an application to set aside a default costs certificate. While there may be reasons for not providing them at the time of making the application, they should be available for the hearing and a failure to do so in this case meant that the costs judge declined to set aside the default costs certificate. Written by Alex Bagnall, technical manager, at Total Legal Solutions.

Environment weekly highlights—13 May 2021

This week's edition of Environment weekly highlights includes our analysis of key announcements made in the Queen’s Speech of interest to environmental lawyers, including in relation to the long-awaited Environment Bill. In addition BEIS has this week published the UK ETS allocation table for the 2021–2025 allocation period, Defra has announced new plans to boost recycling in England and the EA has launched its new Flood and Coastal Erosion Risk Management Strategy Action Plan. We have also published a new Practice Note: ‘The European Green Deal—tracker’, which provides an overview of the European Green Deal programme and tracks developments made in line with its roadmap of policies. This includes this week’s announcement of a provisional agreement on an EU Climate Law, and the Commission’s adoption of its Action Plan on Zero Pollution for Air, Water and Soil.

Environment weekly highlights—1 April 2021

This week's edition of Environment weekly highlights includes our latest News Analysis on BEIS’ new industrial decarbonisation strategy. In addition this week Defra confirmed that the Environment Bill will introduce reforms to recycling including extended producer responsibility, BEIS announced the closure of the Green Home Grants scheme to new applications as well as £300m extra funding for green home upgrades and HM Treasury updated the remits of UK principal financial regulators to take into account the government’s net zero strategy. We have also published a sustainable business toolkit, which aims to assist lawyers to advise businesses on what sustainability means for their undertaking, help them to identify what they should be doing and why it is important, and explain how they can maximise opportunities and minimise risks.

Dispute Resolution weekly highlights—20 June 2019

This week’s edition of Dispute Resolution highlights includes detail on the TCC Guide’s recent revision to include the public procurement disputes protocol as well as analysis of a number of key judicial decisions including that of the Court of Appeal in Kuznetsov v Amazon Services (setting aside orders). It also contains details of our two newly published ‘drop hands’ settlement Precedents, key dates for your diary, our latest Q&As and other information of interest to general dispute resolution practitioners.

Environment weekly highlights—13 June 2019

This week’s edition of Environment highlights includes Theresa May’s announcement that the UK will enshrine a net zero emissions target into UK law, with an aim to end the UK’s contribution to global warming by 2050; the introduction of new labels in fuel filling stations across the UK, in a government-driven effort to educate drivers on the benefits of biofuel; and the government has announced two sets of funding comprising of £33m for projects aimed at transforming the UK’s low-carbon automotive future and £23m to be invested in companies which are at the forefront of developing the latest electric vehicle technology. Also this week, Environment Secretary, Michael Gove, has announced a review to examine the most effective way to introduce the strongest protections for Highly Protected Marine Areas (HPMAs), Directive (EU) 2019/904 on the reduction of the impact of certain plastic products on the environment has been published in the Official Journal and the British High Commission in Kuala Lumpur has announced that the UK will support Malaysian authorities on the issue of illegal trade in plastic waste.

Claim unsuitable for the portal nevertheless subject to fixed costs in CPR 45 Section IIIA (Hammond v SIG)

Dispute Resolution analysis: This analysis examines the costs consequences of a personal injury claim which was always reasonably valued at more than the upper financial limit applicable to the Pre-Action Protocol for Low Value Personal Injury Claims but which was nevertheless uploaded to the applicable Portal after a letter of claim had been sent to the defendant. Did the protocol and consequential fixed costs still apply, when is a claim ‘started’ for the purpose of the protocol and how does acceptance of a Part 36 offer impact the costs recovery? Written by Jon Lord, associate at Weightmans LLP.

PO determination confirming it has no jurisdiction to carry out factual analysis other than as part of a legitimate investigation (PO-13791)

Pensions analysis: In this determination, the Pensions Ombudsman failed to uphold a complaint brought by a scheme member that he had been denied the right to commute on more favourable terms than those which had been offered to him. The matter was outside the Ombudsman’s jurisdiction as it would have involved a factual analysis of the professional actions of the Government’s Actuarial Department. Wyn Derbyshire of gunnercooke LLP looks at the decision.