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The Incoterms or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law. Incoterms define the responsibilities of exporters and importers in the arrangement of shipments and the transfer of liability involved at various stages of the transaction. They are widely used in international commercial transactions or procurement processes and their use is encouraged by trade councils, courts and international lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the global or international transportation and delivery of goods. Incoterms inform sales contracts defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer, but they do not themselves conclude a contract, determine the price payable, currency or credit terms, govern contract law or define where title to goods transfers.
In transportation, freight refers to goods conveyed by land, water or air, while cargo refers specifically to freight when conveyed via water or air. In economics, freight refers to goods transported at a freight rate for commercial gain. The term cargo is also used in case of goods in the cold-chain, because the perishable inventory is always in transit towards a final end-use, even when it is held in cold storage or other similar climate-controlled facilities, including warehouses.
A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of cargo. Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination, and route. Most freight forwarders and trucking companies use an in-house waybill called a house bill. These typically contain "conditions of contract of carriage" terms on the back of the form that cover limits to liability and other terms and conditions.
In a contract of carriage, the consignee is the entity who is financially responsible for the receipt of a shipment. Generally, but not always, the consignee is the same as the receiver.
A freight rate is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport, the weight of the cargo, and the distance to the delivery destination. Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo.
A freight forwarder or forwarding agent is a person or a company who co-ordinates and organizes the movement of shipments on behalf of a shipper by liaising with carriers. The carriers may use a variety of shipping modes, including ships, airplanes, trucks, and railroads, and often use multiple modes for a single shipment. A freight forwarder does not move the goods but acts as an agent in the logistics network and will carry out freight consolidation, rate negotiations, shipment tracking, customs and other documentation, among other tasks. FIATA describes a freight forwarder as the "Architect of transport".
The FIATA International Federation of Freight Forwarders Associations is a non-governmental organisation representing freight forwarders worldwide. According to the FIATA Annual Report 2021, FIATA counted 109 Associations Members representing the freight forwarding industry within a territory and 5959 Individual members, representing freight forwarding and logistics companies.
The freight interline system is a system of relations between trucking companies, rail, and airline networks. Interline freight is cargo that moves between different transportation companies on its journey from origin to consignee. An interline exchange is a contractual transfer of goods from one company to another.
A charterparty is a maritime contract between a shipowner and a "charterer" for the hire of either a ship for the carriage of passengers or cargo, or a yacht for leisure.
A Himalaya clause is a contractual provision expressed to be for the benefit of a third party who is not a party to the contract. Although theoretically applicable to any form of contract, most of the jurisprudence relating to Himalaya clauses relate to maritime matters, and exclusion clauses in bills of lading for the benefit of employees, crew, and agents, stevedores in particular.
New Zealand Shipping Co. Ltd. v. A. M. Satterthwaite & Co. Ltd., or The Eurymedon is a leading case on contract law by the Judicial Committee of the Privy Council. This 1974 case establishes the conditions when a third party may seek the protection of an exclusion clause in a contract between two parties.
Georgia, Florida, & Alabama Railway Co. v. Blish Milling Co., 241 U.S. 190 (1916), was a case decided by the Supreme Court of the United States.
Affreightment is a legal term relating to shipping.
The Uniform Bills of Lading Act was adopted in 1909 and passed by the U.S. Uniform Law Commission. The act addressed the judicial and legislative treatment of issues such as the extent of the carrier's liability to the consignee of the goods or to the buyer of the bill of lading based upon the carrier's issuance of the bill. It governed the relationship between persons with interest in the goods, and carriers who transported those goods. It set / described how a carrier could limit its liability.
The Aramis [1989] 1 Lloyd’s Rep 213 is an English case, relevant for the concept of an implied contract.
Tracking numbers are numbers assigned to packages when they are shipped. Tracking numbers are useful for knowing the location of time sensitive deliveries. It is a unique ID number or code assigned to a package or parcel. The tracking number is typically printed on the shipping label as a bar code that can be scanned by anyone with a bar code reader or smartphone.
The Carriage of Goods By Sea Act 1992 is a UK statute regarding bills for the lading of goods onto ships. It repealed the Bills of Lading Act 1855 and made new provisions.
A bill of lading is a document issued by a carrier to acknowledge receipt of cargo for shipment. Although the term is historically related only to carriage by sea, a bill of lading may today be used for any type of carriage of goods. Bills of lading are one of three crucial documents used in international trade to ensure that exporters receive payment and importers receive the merchandise. The other two documents are a policy of insurance and an invoice. Whereas a bill of lading is negotiable, both a policy and an invoice are assignable. In international trade outside the United States, bills of lading are distinct from waybills in that the latter are not transferable and do not confer title. Nevertheless, the UK Carriage of Goods by Sea Act 1992 grants "all rights of suit under the contract of carriage" to the lawful holder of a bill of lading, or to the consignee under a sea waybill or a ship's delivery order.
A freight claim or cargo claim is a legal demand by a shipper or consignee against a carrier in respect of damage to a shipment, or loss thereof.
Grant v Norway (1851) is a case on the Law of Carriage of Goods by Sea; but since 1992 it has no longer been good law.
References
- ↑ "IATA Resolution 600a - Air Waybill". Archived from the original on 2014-02-21. Retrieved 2014-02-09.
- ↑ IATA, e-AWB, accessed 28 February 2018
- 1 2 Wood, Donald F.; Barone, Anthony; Murphy, Paul; Wardlow, Daniel L. (2002). International Logistics (2nd illustrated ed.). AMACOM Div American Mgmt Assn. ISBN 978-0-8144-0666-3 . Retrieved 15 Apr 2009.
- ↑ Utopiax.org
- ↑ Airline codes and ticketing codes
- ↑ Australian Customs Service. "Air Waybill Number Validation". Archived from the original on 23 May 2009. Retrieved 2009-04-14.
- ↑ Back cover of Band on the Run by Wings