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Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
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AD Code (Authorized Dealer) - Meaning, Registration Steps & Format
Learn what a Bank AD Code is & why it is required for exports, process for registration through ICEGATE, request letter format, charges & DGFT's role.
What is A Master Bill of Lading? Meaning, Requirements & Example
Arguably, the most significant document in ocean freight is the bill of lading, a document that contains all the information related to the goods being exported, their destination, details about the exporter and importer, and other vital data that help quicken the logistics of ocean freight-based shipments.
TEU |Twenty Foot Equivalent Unit in Shipping
Twenty-Foot Equivalent Unit (TEU) is a widely used unit of measurement in the shipping business. It is an intermodal shipping container with dimensions (L x B x H) : 20ft x 8ft x 8ft. At least 9 to 11 pallets are held by these containers subject to the type of pallets i.e., standard or EUR pallets. The capacity of 2 TEUs is equivalent to the capacity of 1 FEU.
What Is Straight Bill of Lading? A Detailed Guide on Straight BOL
In general, a BOL is negotiable. A negotiable bill of lading refers to a document whose title can be changed, i.e., the ownership of the commodities can be changed from one party to another. One can transfer the ownership of the shipment to another party by signing the bill. In a negotiable bill of lading, the new consignee is free to transfer the ownership of the commodities to another person
What is Cargo Insurance? Cargo Insurance Meaning, Types & Benefits
When the freight or cargo is in transit, it is susceptible to damage due to unpredictable events on road or sea. In case of an explosion due to road accidents or the sinking of container ships, the carrier liability will not be enough to compensate for the loss of cargo owners.
What is Letter of Indemnity | Meaning, Process, Template & More
A letter of indemnity (LOI) is a contractual document guaranteeing that specific provisions will be met between two parties in the event of a mishap leading to financial loss or damage to goods.
Terminal Handling Charges (THC): Meaning, Calculation, and Examples
Authorities at the port terminals charge a specific amount for their services when goods reach their site. These expenses are known as THCs. The services include loading and unloading, storage, movement, and maintenance of the shipment.
What is a Sea Waybill | Meaning, Usage & Difference With BOL
A sea waybill is primarily used in maritime shipment and acts as a receipt for the transported goods. It is a transport carriage contract similar to the bill of lading but has many distinguishing features.