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Parties adopting Incoterms should be wary about their intention and variations. The desire of the parties should be expressed clearly and casual adoption should be refrained. Also, making additions or variations to the meaning of a certain term should be carefully done as parties' failure to use any trade term at all can produce unexpected results.
FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
A carrier is an entity that actually transports goods and may use a variety of shipping modes, including ships, airplanes, trucks, and railroads, including multiple modes for a single shipment. [4] For example, the freight forwarder may arrange to have cargo moved from a plant to an airport by truck, flown to the destination city and then moved ...
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Cost, Insurance and Freight (CIF) The term "best way" generally implies that the shipper will choose the carrier that offers the lowest rate (to the shipper) for the shipment. In some cases, however, other factors, such as better insurance or faster transit time, will cause the shipper to choose an option other than the lowest bidder.
The typical obligations of a carrier by sea to a shipper of cargo are: to provide a seaworthy ship; to issue a bill of lading; to "properly and carefully load, handle, stow, carry, keep, care for, and discharge the goods carried". [2] to proceed with "reasonable despatch" [3] to follow the agreed route (and not to deviate from it). [4] [5]
Shipping insurance is a service which may reimburse senders whose parcels are lost, stolen, and/or damaged in transit. In Canada and the US , shipping insurance is offered by postal services, courier companies, and shipping-insurance companies.
An online dictionary is a dictionary that is accessible via the Internet through a web browser. They can be made available in a number of ways: free, free with a paid subscription for extended or more professional content, or a paid-only service.