Articles under Shipping Terms

Bonded warehouse - Explain

What is Bonded warehouse   Meaning of Bonded warehouse. what are the benefit of Bonded warehouse. Bonded Warehouse is a warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed. When goods enter a bonded warehouse, both the importer and the warehouse proprietor incur financial and legal liability under a bond.    The concept of custom Bonded Warehousing has been promoted with a view to

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Waybill – Explain

What is  way bill   Waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods. It will show the names of the consignor and consignee, the point of origin of the consignment, its destination, description of shipment, weight and freight and route. Most freight forwarders and trucking companies use an in-house waybill called a house bill. These contain conditions of contract of carriage terms on the back of the for

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Term CAF under shipping

what is shipping term CAF (Currency Adjustment Factor)    CAF (Currency Adjustment Factor) The Currency Adjustment Factor is a segment of the expense of transportation merchandise, via air or sea. It reflects changes in outside trade rates.   The money change factor is connected notwithstanding the cargo costs caused amid exchanges between these nations. It was authorized because of the extra costs that delivery organizations were acquiring when they were managi

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Explain shipping term REDS

What is term REDS (Registered Excise Dealers and Shippers)   Registered Excise Dealers and Shippers (REDS) are revenue traders who are approved by and registered with UK to receive excise goods commercially from other European Community countries. There are four classifications of REDS: Principals, who import products only for their own utilization Operators, who may represent at least one merchants Vital/Agents, may import a few products for their own business yet addit

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Shipping term ERTS(Enhanced Remote Transit Shed)- Explain

What do you mean by shipping term ERTS(Enhanced Remote Transit Shed)   An ERTS (Enhanced Remote Transit Shed) Warehouse is an area endorsed by H M Revenue and Customs, arranged outside a delegated traditions region of port/airplane terminal, where fortified merchandise might be held until the point when they are allocated to an affirmed customs clearance agent. This enables clients to expel their committals from united compartments without awaiting clearance of different loads insid

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