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International Logistics - To explain documentation as well as term of sale and mother

8 important questions on International Logistics - To explain documentation as well as term of sale and mother

Shipper export declaration SED

Contains relevant export transition data such as the transportation mode, transaction participants, and description of what is being exported

Shipper's letter of instruction

Often accompanies a SED and provides explicit shipment instructions

CPT Carriage Paid To

stands for Carriage Paid To and is an international trade term which means that the seller delivers the goods at their expense to a carrier or another person nominated by the seller. The seller assumes all risks, including loss, until the goods are in the care of the nominated party.

DDP Delivered Duty Paid

the seller must deliver the goods at their own expense and risk to a destination in the import country, taking care of all formalities and paying all import duties in addition to all costs.

FAS Free Alongiside

is a term used in international trade contracts that indicates that the seller must arrange for the goods purchased to be delivered next to a particular vessel in a particular port in order to be ready for transfer to a waiting ship.

FOB Free on Board

the seller clears the goods for export and ensures they are delivered to and loaded onto the vessel for transport at the named port of departure. Seller pays all costs up to main carriage, then buyer takes over all cost responsibility.

CFR Cost and Freight

is a trade term that requires the seller to transport goods by sea to a required port. The two are part of a larger group of international trade rules known as Incoterms

CIP Cost, Insurance, and Freight

is when a seller pays freight and insurance to deliver goods to a seller-appointed party at an agreed-upon location. Under CIP, the seller is obligated to insure goods in transit for 110% of the contract value

The question on the page originate from the summary of the following study material:

Introduction to international business | 9781839615788 | Evelien Kranenburg

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