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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.
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.