04 May 2022
Bill of Lading [BOL] in Shipping - Explained with Examples
The term ‘Bill of Lading’ (BOL) is of ancient English origin and literally means ‘list of cargo’. It is one of the essential legal documents generated during the shipping of overseas bound cargo and acts both as a contract as well as a receipt.
12 October 2022
CIF Incoterms [Cost, Insurance & Freight] | Meaning, Value & Details
CIF stands for Cost, Insurance and Freight, a commercial rule under incoterms 2020 wherein the expenses are borne by the seller -- from delivering goods and bearing settlement charges for carriage and insurance till the designated port. CIF Incoterm cannot be used for air, rail and road transit.
12 September 2022
FOB Incoterms [Freight On Board] - Meaning, Delivery Point & Pricing
FOB stands for “Free on Board” or “Freight on Board”, and it is a shipping term specific to transit by waterways. Learn about its rules, costing & responsibilities.
04 May 2022
Free Alongside Ship (FAS) Incoterms | Meaning & Use
In the FAS incoterm, the seller has well-defined instructions for the course of transportation till the port of destination and the buyer seizes responsibility for loading the goods -- and all charges -- after the goods reach the nominated port.
13 October 2022
DDP [Delivery Duty Paid] Incoterms - Price, Process & Documentation
DDP incoterms is one of the 11 incoterms published by the International Chamber of Commerce (ICC). It stands for Delivery Duty Paid, a terminology allowing flexibility to hold any mode of transport. Also, it lays maximum risk and responsibilities on the seller.
10 October 2022
Delivered at Place (DAP) | Meaning, Example & Shipping Cost
Delivered at Place or Delivered at Port incoterms is a commonly used incoterm where the seller delivers the goods till the port. Learn more about documentation & payment terms here.
09 October 2022
CIP Incoterms [Carriage & Insurance Paid] | Delivery Terms, Price & Example
The shipping incoterm CIP stands for ‘Carriage and Insurance Paid to’, wherein the seller is responsible for goods only till the first port, which is the exporter's country's port and not the terminal.
13 October 2022
CPT Incoterms [Carriage Paid to] - Meaning, Delivery Terms & Cost
Learn all about CPT incoterms, roles & responsibilities of the importer/exporter, cost aspects, delivery terms and transport clauses in freight and shipping
11 October 2022
EXW Incoterm (Ex Works) - Meaning, Example & Use
EXW Incoterm stands for Ex Works, having an EXW arrangement means that there is minimum obligation for the seller, whereby he is responsible only till the delivery of goods at the named place, and the buyer covers the entire shipping cost.