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Freight rate. A freight rate (historically and in ship chartering simply freight[ 1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
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 freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers (party that transports goods). The carriers may use a variety of shipping modes, including ships, airplanes, trucks, and railroads ...
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 equalisation policy was adopted by the Government of India (Union Government) to facilitate the equal growth of industry all over India (Indian Union). This meant a factory could be set up anywhere in India and the transportation of minerals would be subsidised by the Union Government. The policy was introduced in 1952, and remained in ...
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]
Customs house agent. In India, a customs house agent (CHA) is licensed to act as an agent for transaction of any business relating to the entry or departure of conveyances or the import or export of goods at a customs station. CHAs maintain detailed, itemized and up-to-date accounts. A CHA license may be temporary or permanent.
Drayage is the transportation of shipping containers by truck to its final destination. [ 1 ] [ 2 ] Drayage is often part of a longer overall move, such as from a ship to a warehouse. Some research defines it specifically as "a truck pickup from or delivery to a seaport , border point, inland port , or intermodal terminal with both the trip ...