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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 ...
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 ...
Freight transport, also referred 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.
t. e. The Hague–Visby Rules is a set of international rules for the international carriage of goods by sea. They are a slightly updated version of the original Hague Rules which were drafted in Brussels in 1924. The premise of the Hague–Visby Rules (and of the earlier English common law from which the Rules are drawn) was that a carrier ...
t. e. A bill of lading ( / ˈleɪdɪŋ /) (sometimes abbreviated as B/L or BOL) is a document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment. [1] Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods. [2]
e. In a contract of carriage, the consignee is the entity who is financially responsible (the buyer) for the receipt of a shipment. [1] Generally, but not always, the consignee is the same as the receiver. If a sender dispatches an item to a receiver via a delivery service, the sender is the consignor, the recipient is the consignee, and the ...
The International Ship and Port Facility Security ( ISPS) Code is an amendment to the Safety of Life at Sea (SOLAS) Convention (1974/1988) on Maritime security including minimum security arrangements for ships, ports and government agencies. Having come into force in 2004, it prescribes responsibilities to governments, shipping companies ...
The IMO number of the International Maritime Organization is a generic term covering two distinct meanings. The IMO ship identification number is a unique ship identifier; the IMO company and registered owner identification number is used to identify uniquely each company and/or registered owner managing ships of at least 100 gross tons (gt).
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