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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 ...
A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of cargo. [1] Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination, and route. Most freight forwarders and trucking companies use an in-house waybill called a ...
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 ...
This document, made up generally by the ship's broker, from the contents of the bills of lading, contains a specification of the nature and quantity of the cargo laden, and is generally attested officially, and in some countries notarially. The prize laws seldom mention this paper; nor is it general; but yet of essential importance in case of ...
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 ...
Air freight shipments are very similar to LTL shipments in terms of size and packaging requirements. However, air freight or air cargo shipments typically need to move at much faster speeds than 800 km or 497 mi per hour. While shipments move faster than standard LTL, air shipments do not always actually move by air.
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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.