HOW TO CLASSIFY YOUR GOODS FOR EXPORT?
At first glance it seems simple matter. However, it might be difficult. The Commodity Code (HS CODE) is organized into 21 sections and 97 chapters, accompanied with general rules of interpretation and explanatory notes. In order to classify goods it’s necessary to know full description of the goods (size, specification, material composition and so on). Classifying your goods correctly will help to ensure that you pay the right duty for import-export and VAT and know whether import or export certification is required. Incorrect classification can lead to your goods being delayed or/and possible financial penalties.
How to Calculate CBM for a Sea Shipment and Air Shipment
CBM (or cubic meter) is the standard size that international sea shippers use to calculate how much to charge for cargo that is less than a container load (LCL). A CBM is defined as 1 meter high, wide and deep. You calculate it by multiplying the three dimensions of a box, crate or pallet in metric units. For example, a box that is 0.6 m high by 0.4 m wide by 1 m deep is 0.24 CBM. A CBM is approximately 35 cubic feet.
As for air cargo, air carrier usually charge the rate for kilo. And in order to avoid the situation, where light cargo can be charged less, volume weight can be applied. The formula for calculation is like this: Width (CM) X Height (CM) X Depth (CM) / 6000 = volume weight. So if the cargo is light, and 1 CBM for example is less than 166 kilo, it will be charged the rate for 166 kilos by air carrier anyway.
WHAT DOES TELEX RELEASE MEAN?
Telex Release means that carrier is ready to transfer the cargo to the consignee. Typically, carriers carefully watch over the payment of all fees declared in the bill of lading, and after that make release.
Telex Release is also known as an Express Bill of Lading. What happens here is that the Shipping Company issues an Original but they do NOT give the original to the Shipper. Shipper once the don't have questions from the Consignee on payments of goods stamp special form and send it the Carrier, in return the carrier mark the Bill of Ladding with Telex Release chop and mark SURRENDERED in their internal system. It automatically can be used by consignee on their side WITHOUT an Original at destination.
