As defined by the International Chamber of Commerce (ICC) “a Certificate of Origin (CO) is an important international trade document that certifies that goods in a particular export shipment are wholly obtained, produced, manufactured or processed in a particular country. They declare the ‘nationality’ of the product and serve as a declaration by the exporter to satisfy customs or trade requirements”.
SourceNow and then unavoidable incidents occur, causing bumps in the road and delays in scheduling. While unfortunate, it does happen to everyone. But if you find yourself having to allocate additional funds for demurrage or detention fees, you might need to sit down and figure out why.
Did you know that approximately 90% of global trade moves in the near 51,000 ships that conform the world fleet of ocean cargo carriers? This represents around 2.1 billion barrels of fuel annually and translates to roughly 88.2 gallons a year, or 244 million gallons per day.
As 2020 approaches, a new decade is upon us and new rules and systems are to be put in place. For those in the logistics industry, the International Chamber of Commerce’s Incoterms are a good place to start. Last updated in 2009, this set of rules help govern the terms of trade for the sale of goods throughout the world.
The United States has a long history of facilitating the trade with many of its neighboring countries, such as those in the Americas and the Caribbean through the implementation of trade agreements that result beneficial for all countries involved by promoting stability in their economies.
When it comes to shipping goods anywhere the weight and dimensions (among others) are important variables that will influence a great deal in the cost of the transportation service being provided.
When moving cargo, they may charge you based on the “dimensional weight” of your shipment rather than the actual weight (gross weight). By using a “weight equivalent” conversion formula based on the dimensions of the cargo, carriers will determine the dimensional weight and this becomes the chargeable weight if it is greater than the gross weight.
In the shipping industry, there are many policies and governing agencies in place to help streamline efficiency among players and protect the safety and security of all parties involved. One such initiative is the ‘Customs-Trade Partnership Against Terrorism’, more commonly known as the C-TPAT.
The Central America – Dominican Republic Free Trade Agreement (CAFTA-DR) is the first agreement of this nature between the United States and a group of smaller developing economies which include our Central American neighbors: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, as well as the Dominican Republic. The CAFTA-DR promotes stronger trade and investment ties, prosperity, and stability throughout the region and along our Southern border.
In the last few years, huge strides have been made in the way items are delivered to our homes. Food options, for example, have evolved well beyond the traditional pizza and Chinese options, going so far as to provide instant delivery from restaurants miles away from an app on your smartphone, used by busy parents, working professionals, or just about anyone who simply doesn’t want to leave their house. Plus, with popular online retailers offering lightning fast delivery options, like one-day or even same-day services, customers all over the world are enjoying the benefits of these advancements.
When shopping online or placing a wholesale order, many people don’t put much thought into anything but the items they want. In reality, there is a very complex system in place that helps ensure the proper items are distributed to the correct recipients on a day-to-day basis. Even when purchasing items in a store, there are a lot of components that go into ensuring the items on the shelf arrive at their destination from the original warehouse or manufacturer.
