Familiarity International Transportation Terms
Familiarity international transportation terms is essential before entering the field of export and import. Lack of familiarity with these terms can cause us many problems. But this does not mean that familiarity with all terms in this field is essential. rather simply getting to know more important and practical terms can also facilitate our business process; Therefore, in this article, we are going to get to know some of the most important terms in this field.
1. Airway Bill
This bill of lading is issued by the sender and is the responsibility of the carrier, and the carrier, while signing it, undertakes to transport the goods to the destination. The owner of the goods can also receive a delivery remittance by presenting this receipt or bill of lading when he goes to the airline company to receive the goods.
2. Anti-Dumping
This term means a force that prevents imports and protects domestic goods. In some cases, countries temporarily prevent the import of similar goods and economic and commercial fluctuations by taking some measures to protect and support domestic production.
3. Balance of Trade
This option shows the balance in the commercial situation of a country; It means balance in export and import. According to this option, if the number of exports of a country is more, it will be in a more favorable condition from a commercial point of view. But on the other hand, if it has a higher import rate, it does not have a good commercial situation and domestic economic conditions.
4. B/L
It means bill of lading. The bill of lading is also a document that expresses a contract between the sender and the carrier of the goods and also expresses the obligation of the carrier to deliver the goods to the owner of the goods.
5. CFR
It means the cost of transportation in sea transportation. In sea transportation, the responsibility of the sender ends when the goods are loaded on the ship and the cost of its transportation is paid. Therefore, in this case, the shipping fee is paid by the sender. But side costs like insurance are with the buyer.
6. CBM
CBM or cubic meter means the volume of domestic and international cargo transportation. To calculate the amount of CBM, we must multiply the length, width and height by the number of portable goods.
7. Carrier
It means any person who undertakes through an international transport contract to carry out the transport by one of its conventional methods, including land, air, sea or rail.
8. Commercial Invoice
It means an invoice that includes a list of purchased goods along with a full description of their value and price, as well as the name of the seller and buyer.
9. Commodity
It is said to be any commodity that is exchanged in the field of trade. But in itself it is related to more goods that are used as raw materials; such as tin, copper and manganese. Also, major production products such as coffee and tea.
10. D.D.O
It means delivery of goods at the destination with customs rights and clearances.
11. D.D.P
Goods are delivered in a place other than the destination and in the place specified in the contract with payment of customs fees and duties.
12. D.D.U
It means delivering the goods at the destination without paying customs duties.
13. Export Permit
It is a license that allows the government to export certain goods to specific countries.
14. Groupage
It means carrying small cargo. That is, cargoes that, due to their low volume, are not economical to transport separately with a single truck and must be transported together with other goods.
15. Import License
A license issued by the government to import a specific product.
16. LC
It means letter of credit. A letter of credit is a commitment issued by the bank to the seller and the buyer.
17. P.O.D
It is a document in which the name of the recipient of the goods is specified with the time and date of delivery.
18. Carrier
A company that operates in the field of transportation and uses its own trucks or rented trucks for this purpose.
19. Forwarder
There are companies that play an intermediary role between goods shippers and carrier companies. This company is responsible for the operations from the beginning to the end and the relevant coordination.
20. CMR
The insurance policy is for the carrier of the goods, which covers his/her responsibility for the cargo.
Up To Sum
Familiarity with terms related to the field of transportation greatly increases the speed and accuracy of doing this work. Therefore, as a person who is engaged in the field of export and import, it is better to have relative familiarity with these terms.
