Import/ Export Chapter 6 And 7

Front 1

NVOCC

Back 1

-Non Vessel Operating Common Carriers
-Forwarders who operate as Independent carriers
-no ships of their own
-Mandatory to issue 2 bills of lading (carrier and house)
-Must be licensed and must publish their own tariffs
-able to offer quality transportation at a lower price
-Faster

Front 2

The 5 major transportation documents are

Back 2

1. Bill of Lading
2. Export Declaration
3. Delivery Instructions
4. Dock Receipt
5. Insurance Certificate

Front 3

Bill of Lading

Back 3

-Receipt for Loading
-Notifies anyone concerned that the goods have been delivered to the carrier

Front 4

What is a freight forwarder

Back 4

Shipping agent

Front 5

A freight forwarder provides 8 services:

Back 5

1. Professional consultation with exporters to advise them on the best ways to ship, pack and document their sales
2. Quotations for shipping and packaging costs
3. Selecting and booking suitable vessel or airline space
4. Selecting the best route to a destination
5. Negotiation of favorable ocean or airfreight rates
6. Preparation of all necessary shipping documents
7. Telexes advice the buyer giving shipping details
8. Keep exporters advised of progress of his shipment, problems or delays.

Front 6

Forwarders Liability

Back 6

Forwarders cannot, under any circumstances accept responsibility for consequential damages, such as loss of sale, loss of market, or spoilage.

Front 7

Inland Bill of Lading

Back 7

document evidencing receipt of goods by an inland carrier to transport them from the point of origin to the point of export.

Front 8

Ocean Bill of Lading 3 Purposes

Back 8

1. contract to deliver the goods
2. receipt from the ocean carrier for the goods shipped
3. certificate of ownership which covers the goods noted thereon

Front 9

2 primary styles of shipping

Back 9

1. Several Shippers in one container
2. one shipper in a full container

Front 10

Several Shipper in one container

Back 10

-Booking #
-Master Bill of Lading
-house or NVOCC bill of lading

Front 11

One Shipper in full Container

Back 11

-One booking per shipper per container
-Master draft to the carrier for each booking number

Front 12

What is the meaning of the word "NEGOTIABLE"

Back 12

It means transferable to a third party by "ENDORSEMENT"

Front 13

What is a certificate of "TITLE"

Back 13

A formal commercial document (such as the title of your car) or (bill of sale) that confers and proves ownership

Front 14

Two Primary types of Bill of Lading

Back 14

1. Straight
2. Negotiable

Front 15

Straight Bill of Lading

Back 15

-Used to transfer title of merchandise to a third party
1. Made out to a NAMED PARTY
2. NON NEGOTIABLE
3. cannot be used to transfer ownership, merchandise
4. Does not require endorsement
5. Must be marked as Non negotiable
6. Carrier is responsible to deliver to named party only
7. The holder of the B/L is only the named party

Front 16

Shippers Export Declaration

Back 16

Document prepared by shipper used for compiling official U.S. Export Statistics through Schedule E and for enforcing U.S. Export Law controls

Front 17

Delivery Instructions

Back 17

Provide specific information to a carrier regarding delivery to a specific port, pier, airport and or steamship line. Shows shipping vessel, deadline for delivery at dock, name, address, telephone contacts in case of delivery problems.

Front 18

Dock Receipt

Back 18

Used to transfer accountability for the cargo between domestic and international carriers at the ocean terminal. Acknowledges receipt of cargo.

Front 19

Insurance Certificate

Back 19

Assures the consignee that insurance is provided to cover the loss of or damage to cargo while in transit

Front 20

Negotiable Bill of Lading

Back 20

-Used by the shipper or the agent to control title to merchandise until payment is received according to payment terms between seller and buyer

Front 21

Seaway Bill of Lading

Back 21

-Not a document of title, therefor it is not suitable for shipments intended for multiple resale during transit
-The responsibility for the carrier is to exercise DUE DILIGENCE when confirming the identity of the person claiming to be the consignee

Front 22

Shipper wishes to ________ his freight costs while ________his his chances of full recovery

Back 22

Minimize, Maximize

Front 23

Carrier wishes to _______ the shippers freight costs and thus his own revenues while at the same time _______ his exposure to liability

Back 23

Maximize, Minimize

Front 24

Carriage of Goods by Sea Act (COGSA)

Back 24

under COGSA the carriers responsibility is limited to $500 per package,however, no definition of a package was provided in the act so this has caused problems

Front 25

Consignee

Back 25

Person to whom goods are to be delivered by the carrier at the place of destination. The receiver.

Front 26

Notify Party

Back 26

the party that the carrier must notify when the goods arrive at the port of destination

Front 27

SLAC

Back 27

Shippers Load and Count

Front 28

On Board Phrase

Back 28

The date when cargo was actually loaded on board

Front 29

Freight Prepaid

Back 29

Shipper enjoys a credit term from the carrier and that he will pay the freight costs at the time that it is due

Front 30

Freight Paid

Back 30

When the shipper must pay for the cargo before he can receive the original B/L

Front 31

Freight Collect

Back 31

The buyer at the destination will pay the carrier upon ship arrival

Front 32

What happens if the shipper or the consignee loses the original B/L?

Back 32

The shipper has to sign a carrier provided Letter of Indemnity

Front 33

Anti-Diversion Clause

Back 33

To help ensure that U.S. exports go only to legally authorized destinations, the U.S. government requires a destination control statement on shipping documents