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To reduce the number of disputes and smoothen the sale and purchase procedure, normally the ship-owner (seller) and the buyer will appoint brokers as middlemen to handle the transaction. There are three main stages for the sale and purchase of a ship which include: (1) the negotiation and contract stage, (2) the inspections stage, and (3) the ...
The owner code consists of three capital letters of the Latin alphabet to indicate the owner or principal operator of the container. Such code needs to be registered at the Bureau International des Containers in Paris to ensure uniqueness worldwide. An owner can apply for more than one code, as normally the first 2 letters are used as the owner ...
The international shipping industry can be divided into four closely related shipping markets, each trading in a different commodity: the freight market, the sale and purchase market, the newbuilding market and the demolition market. These four markets are linked by cash flow and push the market traders in the direction they want.
This term means that the seller delivers the goods to the buyer to the named terminal in the contract of sale, unloaded from the main carriage vehicle. The seller is responsible for making a safe delivery of goods to the named terminal, paying all transportation and export and transit customs clearance expenses.
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The transfer of title may occur at a different time (or event) than the FOB shipping term. The transfer of title is the element of revenue that determines who owns the goods and the applicable value. Import fees when they reach the border of one country to enter the other country under the conditions of FOB destination are due at the customs ...
Fewer fans appeared to attend the postponed Sugar Bowl between Notre Dame and Georgia on Thursday in light of the terror attack in New Orleans.
U.S. President Joe Biden on Thursday said he hoped President-elect Donald Trump would rethink his plan to impose tariffs on Mexico and Canada, saying it could "screw up" relationships with close ...