What is
Freightaid have issued a number of thought provoking what is articles over the years. Here we will be show-casing some of the most commonly requested and building up their profile. From customs documentation to cargo insurance terms to freight terms you will find a lot of what you need right here in this section. If you would like to see a particular article request it in the freight forum's we may already have it on file.
EUR1 : European trade document
What is an EUR1.
An EUR1 is the name for a form, which is used in the movement of goods across international borders.The application of an EUR1 form is based on various bi- and multilateral agreements within the Pan-European preference system (the European Union Association Agreement). An EUR1 form covers free trade agreement goods, which apply to cheaper rates of duty or to be completely duty free introduced, on the condition that they were completely manufactured in a member country or in such were so far worked on that they become on an equal footing in accordance with the agreements of the origin of the products. In order to profit from the preferential rate during a customs clearance, an EUR1 movement certificate must be handed over to the competent authority (usually a customs administration), in which the manufacturer certifies the origin of the goods.
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General Average, what is it.
General average is well recognised in all maritime juridstictions and is as old as maritime transport itself. It is the fact that it has been around for as long as shipping which has meant it is often the forgotten problem. A lot of freight forwarders, NVO's, NVOCC's as well as shippers do not fully understand general average and as such are unaware of the risks it poses and the best way to deal with it when it arises.
What is a carnet
Carnets are “Merchandise Passports.” They are international customs documents that simplify customs procedures for the temporary importation of various types of goods. There are two types issued: ATA and TECRO/AIT Carnets.
Read more...Letters of Credit ( L/C's )
Understanding and Using Letters of Credit
Letters of credit accomplish their purpose by substituting the credit of the bank for that of the customer, for the purpose of facilitating trade. There are basically two types: commercial and standby. The commercial letter of credit is the primary payment mechanism for a transaction, whereas the standby letter of credit is a secondary payment mechanism.Commercial Letter of Credit.
Commercial letters of credit are an effective tool in facilitating payment in international trade. Their use continues to increase as global economies evolve and developing countries continue to increase their market share of the manufacturing process.Letters of credit used in international transactions are governed by the International Chamber of Commerce Uniform Customs and Practice for Documentary Credits. These general provisions and definitions of the International Chamber of Commerce are binding on all parties once entered into.
Incoterms
INCOTERMS : How to use them properly
Who is this guide aimed at?
You should read this guide if you are responsible for or help in arranging the shipment of your company's goods to overseas markets.
What does this guide tell me?
It gives you an overview of how to choose the correct INCOTERM for each individual movement.
How Do I Choose an Incoterm?
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