The Drip Capital Blog
Insights on finance, working capital, and the realities of international trade: exports, imports, shipping, logistics, and customs clearance.
Resource Library
What is MPF (Merchandise Processing Fees)? A Complete Guide
The Merchandise Processing Fee (MPF) is a payment that needs to be made to the US Customs and Border Protection (CBP) for imports into the US. MPF is considered to be an ad valorem tax, meaning that it is a percentage of the estimated value of the imported goods.
What is A Switch Bill of Lading? Meaning, Procedure & More
In international shipping, a Bill of Lading (B/L) acts as a receipt and contract between the shipper and the carrier. It contains all the details needed to process the shipment and create accurate invoices. This document is crucial for maintaining transparency and complying with laws of two or more jurisdictions, especially during cross-border trading.
What Is TSA Known Shipper? Everything about Known Shipper Management System
The TSA — short for Transportation Security Administration — is a public body in the USA that is responsible (in part) for the coordination and governance of all the physical and digital security of transportation systems in the country.
What is A Line of Credit? Meaning, Types And Uses of Line of Credit
A line of credit is a loan account that allows businesses or other entities to draw funds as and when they need them on an ongoing basis. It acts as an open-ended loan in which the lender decides the maximum credit amount that a business can access, giving the borrower the flexibility to draw funds whenever they need them.
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.