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LETTER OF CREDIT

letter-of-credit

LETTER OF CREDIT: Bank-issued document authorizing transfer of funds from buyer to seller under established terms and conditions in international transactions. A written commitment with regard to payment (Subject to meeting certain terms and conditions) given by the importer’s bank on behalf of the buyer to the exporting bank or …

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MATE RECEIPT

mates-rect

MATE RECEIPT: A declaration issued by the chief officer of a vessel stating that certain goods have been received on board his vessel. It is similar to dock receipt, this evidences that receipt of a shipment onboard the vessel. It is not a document of title and is issued as …

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Surrender B/L

surrender-bl

SURRENDER BILL OF LADING: Surrender B/L or surrender message is issued when Original set of Bill of lading is surrendered back at Origin. Either surrender chop will be updated on the B/L or separate surrender message will be issued. In both the cases liner/forwarder who issued the surrender B/L will …

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AIRWAY BILL : AWB

AWB

AIRWAY BILL: It is the shipping document used for the transportation of airfreight that includes conditions, limitations of liability, shipping, instructions, description of commodity, and the applicable transportation charges. It is usually similar to a non-negotiable bill of lading and is used for similar purposes

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Delivery Order : D/o

Delivery-order

Delivery Order : D/o A Document authorizing delivery to a nominated party of cargoes in the care of a third party. The document is issued by a carrier or a forwarder on surrender of a bill of lading and then used by the merchant to transfer title by endorsement.

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Ensure Preventive Maintenance

preve-2

Ensure Preventive Maintenance The truth is, when you handle your logistics in-house, you have total responsibility over maintaining all aspects. If something breaks down, you are tasked with fixing it. A 3PL partner with a vested interest in delivering the best service possible will continually keep all equipment maintained proactively. …

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Technology: Warehouse Management Systems (WMS)

wms1

Use Warehouse Technology and Tools There are some companies that continue to rely on manual processes such as Excel spreadsheets or outdated software programs. A 3PL partner will have technology like order management systems, warehouse management systems, and transportation management systems. This means that you can allocate inventory in different locations …

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Freight Forwarding means

fret-forwarder

  Transporting goods internationally and locally can be a hassle, especially if you’re unfamiliar with shipping regulations. That’s where a freight forwarding service can come in handy. In general, freight forwarding is the coordination and shipment of goods from one destination to another using single or multiple carriers. Carriers can …

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3PL Vs FF Services

3pl

  There are many terms in logistics that can be easily confused.  Third-party logistics (3PL) companies and freight forwarding services are two terms that may seem to be interchangeable but are completely different in the world of logistics. Importing and exporting are key components of many businesses, and it’s important to know the …

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cargo insurance

insur13

Nobody thinks about cargo insurance. Until a million dollars goes up in smoke. worldwide multimodal protection against loss or damage regardless of the carrier •Coverage up to the invoice value • Multi-carrier protection for goods in transit or in storage • Single shipment or all-shipment coverage • Protection against concealed …

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