Money makes the world go round, right? The numbers we see, they’re like breadcrumbs guiding our shopping trips and steering how companies operate. Do you know how prices keep swinging up and down? It’s like a wild roller coaster that affects pretty much everything we do. Now, imagine you’re gearing up to launch your dream…
Have you ever thought about what happens after you hit “buy now” online? Here’s the kicker: your slick new sofa or those fresh sneakers you’ve got your eye on aren’t just taking a stroll to your place. Picture this: your must-have items sailing across oceans, on a mission facilitated by these oversized metal boxes. It’s…
What are they? Shipping Documents encompass a diverse set of paperwork and records that accompany goods during the transportation process, providing a comprehensive trail of information from the point of origin to the final destination. These documents facilitate and regulate the movement of goods across borders, ensuring compliance with regulations and serving as crucial proof…
What is it? A Packing List stands as a meticulously detailed document outlining the granular specifics of a shipment’s contents. It itemizes each product or item being transported, encompassing quantities, dimensions, weights, packaging information, and any essential handling instructions. This document serves as a fundamental component of the shipping process, providing a comprehensive snapshot of…
What is it? A Commercial Invoice is a comprehensive document issued by the seller (exporter) to the buyer (importer) detailing the goods sold in an international trade transaction. It serves as a formal request for payment and provides a detailed breakdown of the goods, prices, terms of sale, and other essential transactional information. Function and…
What is it? A Certificate of Origin (COO) is an official document issued by an authorized body, verifying the country of origin of goods being exported. It attests that the goods originated from a specific country, confirming their place of production or manufacture. This certificate serves as a vital component of international trade documentation, essential…
What is it? An Arrival Notice is a formal communication issued by the carrier or shipping agent to the consignee or receiver of goods. It serves as notification of the impending arrival of a shipment at its destination port or warehouse. This notice typically includes crucial details about the shipment and prompts the consignee to…
What is it? Estimated Time of Departure (ETD) is a fundamental term in logistics and transportation, representing the anticipated moment when a shipment or vehicle is scheduled to initiate its journey from a specific origin point, such as a warehouse, manufacturing facility, or distribution center. How it helps? Strategic Planning: ETD facilitates strategic planning within…
Definition: DDU, or Delivered Duty Unpaid, is an international trade term that outlines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. As part of the Incoterms (International Commercial Terms), DDU specifies that the seller is responsible for delivering the goods to a named destination in the…
Customer expectations for online deliveries have grown in today’s fast-paced business world. According to Jungle Scout’s Consumer Trends Report from July 2021, a staggering 41% of consumers expect their online orders to be delivered within two to three days, with an even larger portion of 27% demanding the convenience of same or next-day delivery. Businesses…
Definition: CFR, or Cost and Freight, is a widely used international trade term that defines the responsibilities, costs, and risks associated with the shipment and delivery of goods. CFR is part of the Incoterms (International Commercial Terms) and indicates that the seller is responsible for both the cost of goods and the freight charges to…
What is it? A Letter of Credit (LC) is a financial instrument widely used in international trade transactions. It represents a written commitment from a bank, on behalf of the buyer (importer), to pay the seller (exporter) a specified amount of money under specific conditions. LCs provide a secure method of ensuring that sellers receive…
Definition: CPT, or Carriage Paid To, is a significant international trade term that delineates the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. As part of the Incoterms (International Commercial Terms), CPT specifies that the seller is obligated to arrange and pay for the transportation of the…
What is it? Delivery at Place Unloaded (DPU) is an Incoterm, a standardized set of international trade rules published by the International Chamber of Commerce (ICC). DPU represents an agreement between a buyer and a seller regarding the delivery of goods. In this context, the seller is responsible for delivering the goods to a specified…
Risk Management: The risk associated with the goods transfers from the seller to the buyer once the goods are placed alongside the ship. This demarcation point aids in risk management and helps both parties understand their obligations. International Trade Facilitation: FAS is part of a set of standardized rules (Incoterms) that facilitate international trade by…
What is Real-Time Visibility? Real-time visibility (RTV) is the ability to track and monitor the location and status of goods as they move through the supply chain. It provides businesses with a complete view of their inventory, from the raw material stage to the final customer. RTV is becoming increasingly important in today’s globalized economy,…
In the world of logistics, efficiency is the name of the game. In a digital age where data reigns supreme, the battle between API, EDI, and Webhooks has never been more critical. Let us try to understand the difference between EDI, API, and Webhooks with the help of an analogy. Consider an example where information…
Definition: Ex Works (EXW) is an international trade term that defines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. Under EXW terms, the seller’s primary obligation is to make the goods available for pickup at their premises or another named place (such as a factory or…
Definition: CIP, or Carriage and Insurance Paid To, is an international trade term that outlines the responsibilities, costs, and risks associated with the delivery of goods from the seller to the buyer. CIP terms specify that the seller is responsible for arranging and paying for the carriage (transportation) and insurance of the goods to a…
Definition: CIF, or Cost, Insurance, and Freight, is a widely used international trade term that specifies the responsibilities and costs associated with the shipment and delivery of goods. CIF is primarily used in the context of maritime shipping and outlines that the seller is responsible for delivering the goods to a named port of destination…
