SOURCE: Catapult International

Catapult International

May 28, 2014 03:02 ET

Catapult International Adds Automated Incoterm Calculation

LENEXA, KS--(Marketwired - May 28, 2014) - Catapult International has announced its newest capability -- auto rating based on Incoterms.

The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International commercial transactions or procurement processes. Incoterms help importers and exporters avoid costly misunderstandings by clearly defining the responsibilities of sellers and buyers for the delivery of goods, which are regularly incorporated into sales contracts worldwide.

Importers, exporters, and freight forwarders that are Catapult clients can now retrieve their ocean and air rates and apply which Incoterm they want to provide their customers.

"As part of our blueprint to expanding globally, it is essential that Incoterms be implemented into our global rating and quoting platform, Catapult QMS," states David Luttrell, CIO of Catapult International. "Shippers and consignees want clear communication on who pays for which part of the transportation transaction. Our system now offers this solution, from EXW to DDP."

"When we deal with international freight movements, Incoterms becomes a sticky situation if the terms are not ironed out beforehand. Catapult's rating system removes the guesswork of which freight charge is pre-paid and which one is collect based on the Incoterms selection," adds Chris Brennan, Corporate Line Manager at Hellmann Worldwide Logistics.

The system feature is being rolled out to all Catapult clients at no additional charge.

Incoterms is a registered trademark of the ICC.

About Catapult International:
Catapult International provides freight rate technology solutions for both freight forwarders and multi-national companies worldwide. Its Catapult QMS™ application is among the best solutions for international air and ocean pricing, rating, and freight auditing. Catapult also specializes in file transfers and web services as a middleware provider of data. Catapult is one of the fastest growing technology companies in the logistics sector.