Time to Change

Today I have noticed from my friends that the time will change in The European Union which will decelerate time for an hour. Changing the time is due to the beginning of winter time. “The European Union as a whole uses summer (or daylight saving) time from the last Sunday in March to the last Sunday in October. The change between the two takes place at 01.00 GMT.”[1]

 

         … In October, just when you get used to it getting dark at around 5.30-6.00pm we change our clocks from following British Summer Time (BST) back to Greenwich Mean Time (GMT). This means it will be dark an hour earlier, and don't we all notice it! It seems as though suddenly the nights are substantially longer.[2]

As you will see that the night seems to be longer in the winter. Many people have to travel in darkness. So, this changes appears to be advantageous to most people.

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[1] BBC HOME, ‘WEATHER: Time to Change’ <http://www.bbc.co.uk/weather/features/science_nature/clocks.shtml> accessed 31 October 2010

[2] BBC HOME (n 1)

TRADE TERMS: FREE ON BOARD (FOB)

The most commonly known trade terms are Incoterms, which are published by the International Chamber of Commerce. “ICC (International Chamber of Commerce) is the voice of world business championing the global economy as a force for economic growth, job creation and prosperity.”[1]

Free On Board (FOB) is an Incoterm. It is a trade terms that the seller pays for transportation of the goods to the port of shipment, plus loading costs. The buyer pays freight, insurance, unloading costs and transportation from the port of destination to his factory. The passing of risks occurs when the goods pass the ship's rail at the port of shipment.

… The seller delivers when the goods pass the ship's call at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export. This term can be used only for sea or inland waterway transport.[2]

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[1] International Chamber of Commerce, 'What is ICC?' <http://www.iccwbo.org> accessed 29 October 2010

[2] SourceJuice, 'Incoterms Definitions: the basics to the advanced' <http://www.sourcejuice.com/2008/07/15/incoterms-definitions-the-basics-to-the-advanced> accessed 29 October 2010