Freight rates which include loading/unloading charges, generally with a regular shipping lines.

According to the value. For example, an import duty rate of 10% ad valorem means 10% of the value of the goods.

An independent person or corporation acting as a representative, usually in a foreign market, who attempts to sell products for an overseas seller (principal) and earns a commission on successful sales. Agents are not normally involved in delivery or servicing of product.

The document which covers transport by air. It is issued by the carrier, whether an airline or a freight forwarder, as a non-negotiable document serving as a receipt to the consignor for the goods, and containing the conditions of transport. It also shows the details of the consignee so that they can be contacted on arrival of the goods.

The buyer who has requested his bank to arrange an L/C on his behalf. In some countries where the buyer may have trouble arranging an import license, the applicant may be a third party acting on behalf of the buyer.

Bunker Adjustment Factor - an adjustment to shipping companies' freight rates to take into account fluctuations in the cost of fuel oil (bunkers) for their ships.

A document issued by a bank acting as a guarantor for their customer. The bank's guarantee is accepted because of their status and creditworthiness compared to that of their customer. Often used in conjunction with major projects, in the form of Bid Bonds, Performance Bonds and Warranty Bonds, commonly for 10% of the contract value, all of whi [..]

The seller in whose favour an L/C is issued, ie the person who will "benefit" from the L/C. (See also Letter of Credit).

An unconditional order in writing, issued by the seller (drawer) instructing the buyer (drawee) to pay the seller's bank (payee) a specified amount (normally the full invoice value) on demand (at sight) or at a fixed or determinable future time. A suitable form can be obtained from the seller's bank, or drawn up on a blank sheet of paper.

The document which covers transport by sea. Signed by the carrier, whether a shipping line or a freight forwarder, it serves as a receipt to the consignor for the goods, as evidence of the contract of transport containing the conditions of transport, and as a document of title by which possession of the goods can be transferred. Typically a B/L is [..]