USING TEU IS VERY CONVENIENT!
It’s interesting that 20 or 40 foot container became the standard only in 1964! Modern transportation cannot be imagined without containers for obvious reasons:
1.Container protects the cargo from environmental influences and ensures preservation for any mode of transportation;
2.The same container can be moved from one mode of transport to another (from ship to rail or truck) without unloading and reloading the contents of the container;
3.Container must be sealed, so only final consignee can open it. Sealed contained guarantees the safety of the cargo and helps to avoid a lot of claims against the carrier.
Hence, container transportation is very convenient, fast, reliable and affordable.
THE MOST POPULAR TERMS OF DELIVERY — EXW AND FOB
EXW — Ex Works (named place of delivery) means that a seller’s only responsibility is to make the goods available at his premises (works or factory). The buyer bears the full cost and risk involved in bringing the goods from there to the desired destination.
FOB — Free on Board (named port of shipment) means that the goods are placed on board the ship by the seller at a port of shipment named in the sales contract. The seller must clear the goods for export. The risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods pass the ship’s rail.
WHAT DOES B/L STAND FOR?
A bill of lading (sometimes referred to as a BOL or B/L) is a document issued by a carrier to a shipper. B/L is used for carriage at sea.
It serves a number of purposes:
- It evidences the receipt of goods for shipment and indicates the route of the cargo;
- It is evidence that a valid contract of carriage exists and it may incorporate the full terms of the contract between the consignor and the carrier;
- It is also a type of security which states the right of property for the goods described in bl.
