If you have already read about Carriage Paid To or CPT and Carriage and Insurance Paid To or CIP, perhaps you are familiar with Terminal Handling Charges or THC. This is an additional fee when the... continue reading

At first glance, you might mix this one up with Carriage Paid To or CPT. Obviously, carriage and insurance paid to or CIP is slightly different. Starting from its definition, CIP is another... continue reading

Although this is also a commercial term like cost insurance and freight or CIF, carriage paid to or CPT has its differences. Starting from the definition, CPT is when the seller does the delivery of... continue reading

Also known as CIF, it is a term well-known in a trading business. It is when the seller is required to arrange for the goods in carriages by sea to port. The seller also has to provide the buyer the... continue reading

If most of the costs in EX Works are for the buyer, then in cost and freight, it is the complete opposite. This means the seller is considered handing over the goods after the goods have passed the... continue reading

Free on board is one of the trade terms that start with the word ‘free.' It indicates whether there is a liability that either a seller or a buyer has for damaged or destroyed goods during the... continue reading

Although the name is free alongside ship or FAS, it is not as free as it sounds. In fact, using FAS means that it is restricted to goods which are transported by sea or river or inland waterway.... continue reading

The word ‘free’ is often referred to ‘something with no rules’. Surely, this has nothing to do with the free carrier, especially when it comes to International Chamber of Commerce or ICC. The... continue reading