Prepaid and add, along with collect are freight billing terms, although some confuse the subject with the transfer of ownership and liability occur between the seller and buyer. In this article we will cover prepaid & add and collect billing terms, along with their relationship to FOB and INCOTERMS.
Definition of Offshoring Offshoring is defined as moving manufacturing or other business processes overseas versus having them operate domestically.
Everything you need to know about domestic intermodal and how to be successful implementing it into your logistics strategy. Gives tips, tricks and insights on intermodal and what to watch out for when converting from truckload to intermodal.
Shipping In-Bond What is meant by shipping a commodity in-bond is the product is moving within the United States borders, but has not yet been cleared through the US Customs processes to officially enter the US government authority to be consumed by citizens or companies domiciled in the US.
Definition of US Customs Harmonized Tariff Schedule (HTS) The harmonized tariff schedule (HTS) is the primary source to classify goods imported and exported from the country, used by the United States Customs and Border Protection as a means to record international trade activity by product and collect duties and taxes. The foundation of the HTS is the baseline schedule used by all countries for international trade.
Container Freight Station (CFS) Defined in 100 Words A container freight station is a distribution facility where import and export shipments are consolidated and de-consolidated.
Definition of a Foreign Trade Zone (FTZ) A United States foreign trade zone is a designated area that is authorized by US Customs and Border Protection (CBP), where commercial product receives the same treatment as if it were outside the US.
Definition of CTPAT (Customs Trade Partnership Against Terrorism) CTPAT is a voluntary logistics and supply chain partnership program led by the US Customs and Border Protection Agency (CBP) with the goal of improving the security of the United States borders.
Definition of Nearshoring Nearshoring is where a business moves its operations to a nearby country from one of greater distance. Nearshoring is a term that came out of the practice of offshoring, which is when companies move their product manufactured to a lower landed cost region than that of their native country.
Definition of IPI Freight or Interior Point Intermodal IPI freight is used to define inbound freight moves from a port to a shipper’s door within the interior of the country via a domestic or international intermodal container.
Definition of an ISO Container An ISO container is an international intermodal container that is manufactured according to the specifications outlined by the International Organization for Standardization (ISO).