Suez Canal The Suez Canal is the most vital canal in the world. The 193.30 km long canal was officially opened in November 1869. This shipping channel connects the Mediterranean Sea (Port Said) with...
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' but have a different meaning compare to Free Carrier or Free Alongside Ship. It indicates whether there is a liability that... 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
The word ‘ex' is often referred to ‘something that one used to be' or ‘former.' However, Ex Works has a different meaning when it comes to International Chamber of Commerce or ICC. It means the... continue reading