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The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. [1] Incoterms define the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various ...
The term "Freight On Board" is not mentioned in any version of Incoterms, and is not defined by the Uniform Commercial Code in the USA. [12] Further to that, it has been found in the US court system that "Freight On Board" is not a recognized industry term. [15] Use of the term "Freight On Board" in contracts is therefore very likely to cause ...
Freight transport, also referred to as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. [1] The term shipping originally referred to transport by sea but in American English , it has been extended to refer to transport by land or air (International English: "carriage") as well.
Marines sometimes are thought by seamen to be rather gullible, hence the phrase "tell it to the marines", meaning that one does not believe what is being said. 2. An alternative term for a navy, uncommon in English but common in other languages. 3. Of or pertaining to the sea (e.g. marine biology, marine insurance, marine salvage). 4.
The Dutch word "lading" has exactly the same meaning (freight, cargo, an amount of transportable goods) as it has in the English "bill of lading", but is not restricted to shipping. [ 17 ] Under English law, the Carriage of Goods by Sea Act 1992 provides that the term "bill of lading" includes a "received-for-shipment" bill of lading issued by ...
QCIF means "Quarter CIF". To have one quarter of the area, as "quarter" implies, the height and width of the frame are halved. Terms also used are SQCIF (Sub Quarter CIF, sometimes Sub-QCIF), 4CIF (4 × CIF), 9CIF (9 × CIF) and 16CIF (16 × CIF). The resolutions for all of these formats are summarized in the table below.
Modern freight forwarders offer an end-to-end process i.e. shipping the goods from the place of origin to the final destination and may offer additional services such as warehouse planning, cargo insurance and customs brokerage. [8] In a single transaction, the forwarder may be acting as a carrier (principal) or as an agent for his customer or ...
A commercial invoice is used to calculate tariffs, international commercial terms, and is commonly used for customs purposes. Commercial Invoices are generally not needed for shipments between EU Countries—just between EU Countries and non-EU Countries.