Articles under Shipping Terms

MERCOSUR – Explain

What is Mercosur   Mercosur is a trade bloc in South America comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela with associate countries like Chile, Bolivia, Colombia, Ecuador and Peru. Mercosur, also known as the Southern Common Market. Mercosur was set up in March 1991, with the objective of facilitating the free movement of goods, services, capital and people among the member countries. Associate countries are able to join free-trade agreements but do not receive the b

Read More

Shipping term, demurrage

Explain shipping term, demurrage   This post explains about shipping term, demurrage. Containers are used to transport the Import and Export cargo 's on the container ships. The containers are essential to the efficient cargo flow of all Import and Export cargo movements. Demurrage is generally charged by shipping lines. Demurrage is assessed on cargo that is left at the terminal beyond the allotted free time. A limited number of free days are offered, whic

Read More

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

Read More

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

Read More

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

Read More