Trade Terms and Documents



In every International Trade transaction certain questions must be answered :-

--- Who will arrange and pay for the carriage of the goods from one point to another?

--- Who will bear the risk if these operations can not carried out ?

--- Who will bear the risk of loss or damage to the goods in transit ?

All of these questions are concerned with actually getting the goods from the sellers to the buyer . It is possible to imagine any number of ways of dividing up the costs , risk and between the two parties . That is exactly what trade terms do . They are shorthand expressions that set out the rights and obligations of each party when it comes to transporting the goods .

In order to truly useful , trade terms should have universal application and should make explicit the obligation of both parties . This is the aim of Incoterms .

Documents play an important part in trade transaction . The seller's obligation to obtain various documents and deliver them to the buyer is stipulated under each Incoterms .
The documents exhibited here only constitute examples of some documents frequently used in practice , more variants exist .

International Transport Documents :-

Sea Transport :
                      Bill of Lading
                      Ocean or Sea way-bill
                      Data Freight Receipt
                      Mate's Receipt
                      Delivery Order

Air Transport :-
                      Air Waybill

Road Transport :-
                      CMR Waybill

Railway Transport :-
                      CIM Waybill
                      SMGS Waybill

Multimodal Transport :-
                     Combidoc
                     FIATA Combined Transport Bill of Lading  ( FBL )

Warehousing and Storage Documents :-

                     Warehouse warrant
                      Dock warrant

Insurance Documents :-

                    Insurance Policy
                    Insurance Certificate

Customs Documents :-

                    Invoice
                    Export License
                    Import License
                    Consular Invoice
                    Certificate of Origin 



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