Importing a steel building from Vietnam is routine – but the Incoterm you choose decides who handles the paperwork, who carries the risk and which costs appear on which invoice.
CIF – Cost, Insurance and Freight
Under CIF (Incoterms® 2020) the seller pays for export clearance, ocean freight and minimum marine insurance to the named Thai port, such as Laem Chabang. Risk passes to you when the goods are loaded on the vessel in Vietnam, while the insurance protects you during the voyage. You then appoint a customs broker to clear the cargo, pay import duty and VAT, settle port charges and truck the steel to site.
DDP – Delivered Duty Paid
Under DDP the seller delivers to your site, cleared for import, with duties and taxes paid. World Steel works with a licensed Thai customs broker and transport partners, so you receive one invoice and one delivery schedule.
Duties, VAT and Form D
Steel structures are generally classified under HS 7308. Goods of Vietnamese origin can enjoy ASEAN preferential tariffs under ATIGA when a valid Form D certificate of origin is presented. Import VAT of 7% applies on the customs value plus duty. Your broker – or ours on DDP – confirms the final classification.
Which should you choose?
- Choose CIF if you import regularly, have a broker with good rates and want to reclaim import VAT through your own company.
- Choose DDP if this is a one-off project, the site is far from the port, or you simply want a fixed delivered price without managing customs.
Packing matters as much as the term
Whichever term you choose, ask how the steel will be packed. We load containers and flat racks in erection sequence, with packing lists per container mapped to grid lines – your erection crew starts lifting the day the trucks arrive.
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