Logistics

Duty Drawback is a fiscal incentive in international trade that refunds customs duties, fees, or taxes on goods that are re-exported.

Reverse logistics is the process of managing the return of products and materials for value recovery or other operations related to the reuse of them.

A Through Bill of Lading (BOL) streamlines shipping by consolidating the transportation of goods across multiple phases & modes into a single document.

Landed cost covers all costs from procuring to shipping goods, including taxes and duties and is vital for setting competitive and profitable prices.

The Automated Commercial Environment (ACE) is the U.S. Customs’ key digital tool for import/export e-filing, assuring compliance & expediting clearance.

A Free Trade Agreement (FTA) is an agreement between nations to reduce global trade barriers, fostering global economic integration & competitiveness.

Cash on delivery (COD) means that a buyer pays for goods when they receive them from the carrier, often in cash or credit card.

Freight All Kinds (FAK) consolidates various goods into one shipment with a uniform rate, simplifying costs.

A common carrier is a transportation service provider that serves the public for a fee and is liable for any loss or damage of goods during transit.

A consolidator is an entity that combines shipments from different shippers or locations into full container loads for economical & efficient freight.

Cross-docking is a logistics technique that transfers goods from inbound transport to outbound transport with minimal storage or handling.

Contract of carriage is a legal agreement between carrier and shipper for transporting goods under certain terms and conditions.

An export license is a government permit allowing the exportation of specified controlled goods, with the due diligence required from the exporters.

Inland Haulage Charges (IHC) are land transportation costs for goods to/from ports and vary depending on the type and weight of the goods.

Intermodal shipping is moving goods using different transport modes and carriers with standardized containers for efficiency.