Things You Should Know About Export-Import



Things You Should Know About Export-Import

Freight Forwarding

These are words you should know about export-import activity.

1. Customs Clearance is a document inspection process, the calculation of the costs of official taxes, and the process of expenditures, which is carried in the country of destination.
2. FOB stands for Free On Board, means you offers the price of goods only up to the top of the board, cost /fees ship is not included. There are also FOB Port destination, for example FOB Jakarta, means that the price includes postage to Jakarta, that is became the basis of the calculation of duties a goods.
3. CIF stands for Cost, Insurance and Freight means your offer price in addition to covering the price of goods, the cost of the vessel, also including insurance. In other words, the price of the goods together with postage and insurance costs of goods, other than FOB, this base the calculation duties of goods.
4. CNF stands for Cost and Freight, means the price of the goods plus the postage, but does not include the cost of insurance of goods.
5. OFR stands for Ocean Freight Rate, or basic rate shipping costs by sea, usually calculated by cbm or weighted mean-square method.
6. AFR stands for Air Freight Rate, or basic rate shipping costs through the air, usually calculated based on the units of kilograms or pounds (lbs).
7. FCL stands for Full Container Loaded, or in other words, this shipment is equivalent to approximately 20 MT (metric tons) by using a 40ft container and only 10 MT (metric tons) when using 20ft containers.
8. LCL stands Less Container Loaded, is a term for delivery that does not reach 1 (one) full container, the count is weighted mean-square method or kubikmeter.
9. Consolidation is a process that is usually performed by freight forwarders to incorporate a lot of items into one shipment, and it can reduce the overall cost of postage.
10. AWB stands for Airway Bill, which is given as proof of shipment of goods by air, in the airway bill there is a barcode that can track the position of the goods, Airway bill is also useful for identifying the goods.
11. BL stands for Bill of Lading, which is given as proof of shipment of goods by sea, the same function with the AWB in the the air.
12. Commercial Invoice is a document required for goods dutiable when they arrive in the destination country, this document will be the basis for calculating the customs.


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