What You Should Be Asking Your Freight Forwarder When looking for an ocean or air freight forwarder, there are a number of standard questions you should ask to figure out if they’re the right fit, such as: “How many containers do you move per year?” or “Which...
You may already know how good customs brokerage plays an important part in the import process, but do you know what they actually do? I mean in excruciating detail bordering on TMI? Well, hold on to your hats and glasses everyone, ‘cuz in our most recent video series,...
de•mur•rage [dih-mur-ij] Definition – A charge for the amount of days that an import container is under the control of the shipping line after the free time for pickup has expired. Charges are applied for storage of containers while in the steamship lines...
Definition – The total or end cost of a product once it arrives at the buyer’s door. This includes purchase price, logistics and brokerage fees, insurance, duties and taxes, insurance and other costs. Related Terms – Total Landed Costs (TLC)
Definition – A letter of credit is a bank issued document guaranteeing the buyer’s payment of a specified amount in a specified currency to the seller provided the defined conditions are met and the prescribed documents are submitted. Required documents may include...
Definition – General average is a principle of maritime law which dictates that all parties with freight on-board proportionally share any losses sustained when cargo must be jettisoned to save a ship. How does this affect my shipments? – Even if your shipment is not...
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