Some of the terms explanations are below ; (Check 8.1)
Standardized international customs document known as an ATA (admission temporaire or temporary admission) carnet that is used to obtain duty-free temporary admission of certain goods into the countries that are signatories to the ATA Convention.
Building or other secured area in which dutiable goods may be stored, may be manipulated, or may undergo manufacturing operations without payment of duty.
Foreign-Trade Zones (FTZ)
Available for activities that might otherwise be carried on overseas for customs reasons. For export operations, the zones provide accelerated export status for purposes of excise tax rebates. Also very useful for re-export processes.
Free In and Out
Pricing term that indicates that the charterer of the vessel is responsible for the cost of loading and unloading goods from the vessel.
Agent for moving cargo to an overseas destination.
RoRo is short for “Roll-on Roll-off”, which is the description of how cargo is loaded and discharged from a RoRo vessel. This means simply that cargo rolls on or off the vessel, as opposed to being lifted using cranes.
ETA and ETD
Commonly used shipping terms, these stand for ‘Estimated Time of Arrival’ and ‘Estimated Time of Departure’.
FCL or LCL
FCL stands for ‘Full Container Load’ and LCL stands for ‘Less than Container Load’.
Transportation system, in which roads are used during start and end stages of the shipment, and in which long-distance transportation involves railway, river, channel or seaway shipping.
A penalty charge that applies when the ship exceeds the allocated loading or unloading period, or when the goods waiting inside the container are not cleared from customs and unloaded.
Additional fee that the ship owner may request for transportation of dangerous goods.
Method of shipping the loads that belong to different customers in the same tractor trailer.
The area that allows the transportation vehicle case and loading section to be the same height and thus facilitates cargo loading and unloading operations.
A type of locking system that is put in place after the vehicle has been cleared of customs and shows that it has not been opened without permission.
The value that is used to calculate the cargo shipping fee by multiplying the three dimensions
Why contract is important ? Because companies will have proof in their hands after all in case any problem occurs. (Check 8.1.5)
Companies have risks during international trade, they are ;
Violations of Liability