What is an incoterm?
The Incoterms® rules, set by the International Chamber of Commerce (ICC), define the essential terms of trade for the sale of goods under worldwide contracts. Incoterms® 2020 consists of 11 rules divided into two groups: 'Rules for any mode or modes of transport' and 'Rules for sea and inland waterway transport.’
Find out all you need to know about Incoterms here (Yusen Logistics Incoterms Shipping and Transport Responsibility Terms).
What are HS Codes?
HS Codes (or HTS Codes), also known as the Harmonized Commodity Description and Coding System, or simply the Harmonized System, are a standardized international system to classify globally traded products. Read here for more information.
What is an export license?
An Export License is a legal document granted by a government that permits the exports of specific commodities. These may include goods that are prohibited, dangerous, or which are sensitive in nature. Most exports do not require a special license, but it is up to the exporter to determine whether to pursue one.
What are Terminal Handling Charges (THC)?
This charge is an aggregation of costs associated with the terminal provider’s property. The costs covered include access, equipment maintenance, equipment use, and labor (stevedoring). The property covered includes the wharf, the carrier’s terminal facility, or a container freight station (CFS).
What is a consignee?
The consignee is the importer of record for your shipment. The consignee is usually one of the following:
the buyer of the goods from overseas.
Your client (if you represent someone who will serve as the final destination).
What is a shipper?
The shipper is the exporter of record for your shipment. The shipper is usually one of the following:
The factory where your goods are manufactured.
The sourcing agent who serves as the main point of contact for your export and takes ownership of the export, including finding your factory and arranging necessary documentation.
The origin location if different from the factory (ie, the factory’s warehouse).
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