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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 (shipping) 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 ...
Freight transport. This map of shipping routes illustrates the relative density of commercial shipping in the world's oceans. 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 ...
t. e. In transportation, freight refers to goods conveyed by land, water or air, [ 1] while cargo refers specifically to freight when conveyed via water or air. [ 2][ 3] In economics, freight refers to goods transported at a freight rate for commercial gain. The term cargo is also used in case of goods in the cold-chain, because the perishable ...
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 ...
The term break bulk derives from the phrase breaking bulk—the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ship's holds. These goods may not be in shipping containers. Break bulk cargo is transported in bags, boxes, crates, drums, or barrels.
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