The Drip Capital Blog
Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
Resource Library
VOCC Meaning: What Is a Vessel Operating Common Carrier?
A VOCC or "Vessel-Operating Common Carrier" is a shipping company that owns and operates vessels and leases them to other entities. Also known as a shipping line, shipping company, or ocean carrier, a VOCC is responsible for managing the cargo and transporting it to the right destination at the scheduled time.
Letter of Credit (LC): How It Works + Example
LCs or letter of credit is a documentary credit governed by the UCP 600 and is an instrument to guarantee payments. Learn all about what it is, how does it work, risks and disadvantages.
Automated Export System (AES) - Filing Process, Charges & Benefits
The process of exporting goods is not only highly complicated with several phases, parties, and components involved but also one that is incredibly busy. Thousands of export shipments are processed every day in the US — in February 2022, the country exported goods worth approximately US$8.2 billion daily on average
What is GRI in Shipping? Complete Guide on General Rate Increase
General Rate Increase, also known as GRI, is an increase in ocean freight rates by shipping lines across specific or all trade paths during a particular period of time.. The rates are imposed by shipping lines, and the amount of the increase in rates is decided based on the demand and supply on that particular route.
US Trade Agreements - List of Trade Agreements in The US
The United States of America has Free Trade Agreements (FTAs) with 20 countries. These treaties have been signed to facilitate trade and strengthen commercial ties between the US and the other participating countries
UCP 600 for Documentary Credit - The Complete Guide
The Uniform Customs and Practice for Documentary Credits, also known as UCP 600, is a set of rules established by the International Chamber of Commerce (ICC) that governs how letters of credit (LCs) are issued and used worldwide.
Bank Guarantee Vs Letter of Credit - Examples and Differences
Letters of credit and (LCs) and bank guarantees, both these financial instruments offer guarantees in trade transactions. This makes it possible for someone to use the two interchangeably and get confused. It is hence crucial that traders thoroughly understand each mechanism, the key differences between the two, and their use cases to decide which one to opt for.
FOB VS CIF - Incoterms Comparison and When To Use Them
International trade processes can be complex, especially for first-time traders to understand. Even seemingly simple concepts with their abbreviations and variations can baffle novice traders. One such set of abbreviations are the incoterms set by the ICC that clearly define the roles, responsibilities, duties & accountability of the exporter and importer in any given international trade transaction