Showing posts tagged 'cif'
03 November 2021
Incoterms (International Commercial Terms) are a set of trade rules issued by the International Chamber of Commerce to define the responsibilities of sellers and buyers globally to reduce confusion in cross-border trade.
Incoterms are 11 internationally recognised rules that define things like who is responsible for managing shipment and who is responsible for customs clearance. The aim is to enable smooth trade and transactions.
This article will provide an explainer of the 11 Incoterms.
Incoterms for Any Mode of Transport
There are seven Incoterms for Any Mode of Transport:
- EXW (Ex Works)- This Incoterm makes export clearance the responsibility of the buyer, except when the country overrules it by law (such as the U.S.).
- FCA (Free Carrier)- The seller is responsible for making the goods available at its own premises or at a named place. The seller is responsible for export clearance and security.
- CPT (Carriage Paid To)- The seller clears goods for transport and delivers them for shipment, assuming responsibility for delivery to the named destination.
- CIP (Carriage and Insurance Paid To)- The seller is responsible for delivery and insurance of delivery, after which risk transfers to the buyer.
- DAP (Delivered at Place)- The seller bears all risks associated with delivery but not unloading.
- DPU (Delivered at Place Unloaded)- The seller bears all risks associated with delivery and unloading.
- DDP (Delivered Duty Paid)- The seller bears all risks associated with customs duty and delivery, as well as unloading.
Incoterms for Sea and Inland Waterway Transport
There are four Incoterms for Sea and Inland Waterway Transport:
- FAS (Free Alongside Ship)- The seller clears goods for export and delivers them for shipment alongside the vessel, after which the buyer assumes responsibility.
- FOB (Free on Board)- The seller clears goods for export and delivers them for shipment on the vessel, after which the buyer assumes responsibility.
- CFR (Cost and Freight)- The seller clears goods for export and assumes responsibility up until the goods are loaded on the vessel.
- CIF (Cost, Insurance and Freight)- The seller clears goods for export and bears the cost of freight and insurance. Buyer assumes responsibility for unloading.
Incoterms are designed to clearly define who is responsible for goods at different points of importation and exportation.
When explicitly incorporated by parties into a sales contract, Incoterms become a legally enforceable part of that sales contract.
In each Incoterm, a statement is provided for the seller’s responsibility to provide goods and a commercial invoice. A corresponding statement stipulates that the buyer pay the price of goods as provided in the contract of sale.
The limitation with Incoterms is they do not address all conditions of a sale, and they do not address liability or dispute resolution. Instead, they are a framework that importers and exporters can use to ensure smooth transactions.
05 May 2021
Keeping pace with high power terminal block demand
High power terminal block demand is soaring with the buildout of EV charging infrastructure. The reason is simple - high current requires high power terminal blocks, making these components essential for EV charging stations.
The rapid growth in the adoption of electric vehicles is fuelling demand for high power terminal blocks beyond what most people expected.
The UK Government’s decision to ban petrol and diesel cars from 2030 has accelerated the buildout of EV chargers, leading to significant new investment by leading companies like Tesla and BP Chargemaster. There are now more than 35,000 charge points across the UK, a figure that is expected to increase by 10,000 in 2021.
The big barrier to purchase with electric vehicles is a lack of charging infrastructure and slow charge times. Building more charging stations is the simple solution to this problem, but bigger, better high power terminal blocks are also needed for the next generation of rapid chargers that will provide power up to 350 kW.
What is ‘high power’?
Anything above 40 amps is classed as high power. All public electric charging stations significantly exceed this amount. High power terminal blocks are typically available up to 125 amps and higher for custom applications.
We need terminal blocks capable of handling higher currents when the charging speed demand increases for the station. EV chargers are classified in three categories: Level 1, Level 2 and direct current. Whether a charger is AC or DC, the higher the current, the higher the power draw, so the more robust the terminal needs to be.
Terminal block specifications
Terminal blocks serve as a routing tool for wiring. They are simple components, used to connect circuits together and provide an electrical ground for the circuit.
Screw terminal, push button and push-in terminal block styles are available. These accommodate different types of circuit design. The module type can be interlocking or single-piece with a plug or receptacle housing.
Terminal blocks for EV charging stations are optimised for this specific purpose and they are normally rated for at least 150% of the max current.
Meeting the soaring demand for high power terminal blocks
Unlike semiconductors, there is no immediate shortage of high power terminal blocks. They are available in the tens of thousands per order.
There is competition between the EV and renewable energy industry for high power terminal blocks though. Both industries are significant consumers of these components and demand is increasing with new electrical installations.
Other in-demand components for electric vehicle charging infrastructure include battery connectors and high voltage connectors designed to handle the heat of EV charging. These connections need to be small but also thermally efficient.
Do you need help sourcing terminal blocks?
Cyclops is a leading supplier of high power terminal blocks and connectors to the electric vehicle and renewable energy markets. We are a global distributor with access to the widest range of electronic components for all applications.
Enter Electronic Component part number below.