The REX IT system has been developed by the European Commission. The Member States of the European Union, Generalized System of Preferences (GSP) beneficiary countries, and Overseas Countries and Territories (OCTs) can use the system.
According to the European Commission, the REX system is:
This article has been updated with the announcement by Michael Gove on the transition period and the three-phased implementation on border checks.
Risks and Costs for the Seller
The seller is responsible for arranging and paying for transportation to the ship and is also responsible for loading the goods onto the ship. The risk used to transfer to the buyer when the goods go over the rail of the ship. This was confusing as the risk would transfer when the goods were midair, while the seller was responsible for loading them onto the ship. Since Incoterms 2010 the rail of the ship is no longer mentioned. The risk transfers when the goods are delivered, in other words, placed on the ship.
Norway is not a member state of the European Union, but it is a member of the European Economic Area. This means that Norway sets its own tariffs on goods from outside the single market and at the same time, Norwegian goods are imported into the European Union tariff-free.
For Norwegian exporters, this means that they need to be able to prove that the goods they are importing into the European Union are of Norwegian origin. Goods from third countries can’t be imported tariff-free.
Last week we updated you on the impact of COVID-19 on ocean freight and the effect it has on the three largest ports in Europe. This week we cover air freight.
As countries went into lockdown, and borders were closed, the airline industry came to a screeching halt. Many countries closed their airspace. Exceptions were made for planes carrying citizens returning home and essential freight.
A new round of negotiations is scheduled for this month. In January, the United Kingdom left the European Union and it was agreed that a transition period would follow, so both parties could agree on a trade agreement between the two.
The transition period ends at the end of the year, but the period in which an extension of the transition period can be agreed on ends this month. In planning the negotiations, the parties designated June as the month to take stock of how far negotiations were along.
European ports, like many other businesses, have been impacted by the coronavirus pandemic.
At the end of this year, the United Kingdom will leave the European Union. The transition period will come to an end on December 31st. Several EU representatives have made it clear they want an extension to the transition period. Prime Minister Johnson is still refusing to go along with such a request. He is set on keeping his promise of leaving the European Union by the end of this year.
We are regularly asked about the import of personal protective equipment.
Export of PPE is prohibited for the time being. For importing personal protective equipment, the following conditions apply:
You can read more about the most important changes compared to Incoterms 2010 in one of our earlier blogs in the Incoterms series. The Incoterms we explained until now have been terms that are applicable to all modalities, road, rail, water, and air. The Incoterm in this blog is one of the Incoterms specifically for transport over water: Cost, Insurance and Freight (CIF).