The Drip Capital Blog
Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
Resource Library
Intermodal Containers in Shipping - Complete Guide with Meaning & Types
The maritime logistics supply chain has undergone a paradigm shift with the advent of containerization to transport cargo. Intermodal containers facilitate the transport of raw materials and other cargo on various transport means.
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TEUs [Twenty Foot Equivalent] Containers in Shipping & Logistics
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.
Shipping Guarantee in Import Export - Meaning, Process & Examples
In international trade transactions, An importer generally needs a bill of lading and a few other shipping documents to collect goods from the destination port. The bill of lading is issued by the shipping company to the exporter once the shipping company has inspected the goods. The exporter sends out the BL and other documents to the importer as presentation of these documents is a prerequisite for collection of the goods.
What Is TARIC Code? A Complete Guide on TARIC Code
Every commodity that is imported or exported attracts certain tariffs. The most common are export, import, and transit duties. Tariffs in the EU are governed by the TARIC code system, where each commodity’s TARIC code decides the tariff that will be applied to it.
What is Letter of Indemnity?| Meaning, Sample, Importance & 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.
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 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.
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.