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    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    BoG, CSA deepen collaboration to fight cyber threats

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    Intravenous Infusions PLC records 10% growth in profit in 2021

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

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    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

    Bank of Namibia Governor pays courtesy call on BoG Governor

    DBG funds will not be used to buy gov’t securities – Deputy CEO assures

    Producer Price Inflation rises again to hit 33.5% in May 2022

    #CitiBusinessFestival: Garment industry needs financial support to thrive – Cyndex CEO

    Ghana tops list of countries with cheapest cost of electricity in West Africa

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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GIFF urges shippers to understand incoterms to avert losses

byMichael Ogbodu
September 19, 2020
in Business
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The Ghana Institute of Freight Forwarders is asking persons who plan on shipping goods into the country to do their due diligence in order to avert unexpected losses.

According to the association, some people who bring goods into the country are oblivious of some of the technicalities involved in the process and end up incurring unplanned debts.

Speaking at a workshop organised in the Accra, President of the Ghana Institute of Freight Forwarders, Edward Tetteh-Owusu Akrong, said a good understanding of the internationally recognised rules which define the responsibilities of sellers and buyers will help address such concerns.

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He indicated that, “a lot of the traders ignore incoterms. They just go and buy stuff and then say let’s ship, ship the stuff to me, not going through the proper incoterms.  Not understanding them has all its risks involved because it gets here and when there are issues, then you begin to realise that you didn’t understand the incoterms that are being put on there, that you have agreed on in the contract. So it’s very important to understand this.”

The Ghana Institute of Freight Forwarders thrives to provide the highest standard of consultancy and services to its members and their customers, for the benefit and enhancement of Ghana’s trade activities, by providing the most reliable resource pool for freight forwarding services in the country and for its members to be recognised as a model of excellence.

The Institute has a vision to facilitate Ghana’s international trade by providing a body of professional freight forwarding agencies, committed to meeting every client’s needs.

 

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