TERMS & CONDITIONS

FOB 

Free On Board. It is an INCOTERMS term of sale where the seller of the cargoes are responsible for all charges of the transportation of the cargoes all the way up to their arrival on board the ship. It includes all charges of carriers or forwarders levied at the port of loading

CIF Cost, Insurance and Freight

A term of trading in which the buyer of the goods pay for the cost of the goods, the cost of transporting the goods from origin to the port of discharge or final destination and the insurance premium for a maritime insurance policy for the value of the order.

Port of Discharge

A port where cargoes and containers are unloaded from a vessel.

TTO- Through Transport Operator

A Carrier who contracts to carry goods (only part of which carriage he undertakes himself) on the basis that he is a principal whilst the goods are in his personal care and an agent only whilst they are not.

Dip & Pay

Buyer conducts Dip test on the product and makes the payment for the total value of product.

International waters are those located outside any nation's territorial waters. ... No nation 'owns' these waters. They generally extend about 200 nautical miles from the shore of a country, and are broken into different sections in which the particular country has various rights.

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Port of Discharge is a place where a vessel discharges or unloads some or all of its shipments. The shipments are, thereafter, dispatched to their various consignees. POD is also known as Port of Unloading (POU).