International trade and import To enter the field of international trade, the merchant, whether individuals or companies must be aware of and familiar with all terms related to the commercial field in order to be able to identify all the terms of contracts that are dealt with between suppliers and importers in all countries, and to identify those terms continued With us.
Import and Export Terms
Bill of Lading
A document issued by the company that carries out the transfer. A bill of lading is a contract in which the transfer process is confirmed between two parties, the first party is the side that performs the export process and the other party is the company that carries out the transfer. Through the bill of lading, you can get to know all freight operations in terms of port for shipment, a port of shipment arrival, mode of transportation for consignment transportation, as well as freight charges and method of payment. One of the most important documents that are used to confirm the shipping process of the company that transports, as it proves that the company has already received the goods that are shipped in the vessels’ hold
Also read: Payment Methods of Import and Export
Airway Bill Shipping
Use in the event of shipping by airband.
Airfreight confirms the transfer and receipt process.
Waybill Land Shipping List
A list in which the names of the goods are written through the land freight list, the description of the goods that are shipped can be identified. It is considered an official document to be relied upon in the event that the owner of the goods that are being shipped demands a refund of the value of the goods or in the event of damage or loss from the shipping company.
Also read: Shipping Terms Defined in Detail
Terms for Payment Agreement Contracts
Most Favored Nation
The term most favored nation or the most favored nation or MFN in financial treaties and agreements for the financial, air, and maritime economy. Through treaties that include the term most favored nation, pledges to grant equal concessions and facilities between the two countries. Exemption from agreements or grants between the two countries may be granted according to the text for the most caring countries.
Also read: Conditions for Delivery of Goods in Domestic or Local Trad
Demurrage
Fees to be paid by the entity that performs the import process Fees for container breakdown fees are paid in case of delay in the process of returning containers for shipment at the port specified by the importer. The lead time before payment of a container breakdown fee can be changed according to the company’s agreements with the importer. The duration is calculated by the time the goods enter the specified port.
Storage Fees
It is paid as an allowance for the places that are obtained or reserved for storage at the port. Through the importer or the authority responsible for clearing the goods after the grace period has ended.
Also read: Meanings of Shipping Terms