21 Jan 2020
Do you export to Algeria? Keep in mind that not all incoterms are allowed.
New regulations issued by the collective of Algerian banks indicate that Freight Collect shipments (FOB terms) are preferred. For shipment under CFR terms, the consignee must request approval from his bank for each shipment.
In case the bank accepts to ship under CFR terms, then the cargo value and freight value have to be mentioned separately on the commercial invoice.
Please note that it is not allowed to ship under CIF terms to Algeria, as it has been legally determined that the insurance has to be taken out with an Algerian insurance company.
What else do you have to keep in mind when shipping to Algeria? Read all about it in our earlier article: https://www.embassyfreight.nl/en/news/what-do-you-have-to-keep-in-mind-when-shipping-to-algeria/