Common FAQ related to freight forwarding

A lot of businesses these days are opting for import and export for better advantages. The freight forwarding has proven to be one of the best businesses these days for it brings about links in the online and offline market and also it can lead to the development of connection between two different nations.

With the increase in popularity of this business, a number of companies have eventually emerged thereby making it easier for people to transfer their products across the world. Shipping to the US has to be one of the toughest ones. It is for this reason that you need to have proper guide to importing to USA for a better idea. Knowing about the importing guide can eventually help you know about the business.

Some of the prominent FAQ related to freight forwarding include the following

What does Incoterm mean?

Incoterm means International Commercial Term, which refers to the sales as referred to by the International Chamber of Commerce (ICC). This term is used a lot in the International Trade because they prove to be an extremely efficient one. This eventually helps to develop a relationship between seller and buyer thereby easing the process.

Should I get cargo insurance?

Often people do not know about the importance of cargo insurance. Cargo insurance offers coverage for all the physical damage or loss that one may prefer during transit. It is very common for the company to have cargo insurance so as to stay protected against the risk of transit. If you want to protect yourself against the risk of physical loss and damage, you need to get your business a cargo insurance.

What is the difference between waybill and bill lading?

Often customers and many importers have had a huge problem understanding the waybill and bill lading’s difference. Bill of lading is mostly used for multimodal transport. There are transferable documents which eventually helps buyers and sellers to pledge for goods while transferring the products as per ‘to order’.

Waybill is however known by different names in different places. These bills are required by the sellers to change the delivery direction only it the clause requires so.

Who is responsible to offer details about VGM?

As per the regulation, the shipper holds complete responsibility regarding the Verified Gross Mass (VGM). The shipper usually notes down the details in Bill of Lading. However, the final weight of the product should be thoroughly provided for everyone to have a better idea.