Search results
Results from the WOW.Com Content Network
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 ...
With "FOB destination", the sale is complete at the buyer's doorstep and the seller is responsible for freight costs and liability during transport. [11] [12] The two terms have a specific meaning in commercial law and cannot be altered. But the FOB terms do not need to be used, and often are not.
Standard Trading Conditions (STC) are standardized terms imposed by some countries for accepting cargo by shipping lines, airlines and logistics services providers like freight forwarders and customs agents. They are usually printed as the fine print behind the shipping documents like bill of lading, air way bill, or consignment note.
A contract of carriage is a contract between a carrier of cargo or passengers and the consignor, consignee or passenger. [1] [2] Contracts of carriage define the rights, duties and liabilities of parties to the contract, addressing topics such as acts of God and including clauses such as force majeure (removing liability for extraordinary occurrences beyond control of the parties).
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.
The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
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 ...