INTRODUCTION With the world’s economy growing at a rapid rate and global transportation on the rise; there is a need to understand the requirements and regulations for this mode of transport. The difference between the shipping agents and brokers is important as one can see their different rolls and how their relationships are important to the structure of ocean shipping in global logistics . Free Alongside Shipping (FAS) and its obligations to the seller and buyer is discussed as it is only applicable to sea or inland waterway transport requiring the seller to deliver goods to a named port alongside a vessel designated by the buyer. DISCUSSION: A. Structure of ocean shipping in global logistics 1- Liner service Liner service has the following • Sale & Purchase brokers represent one party in a deal to buy or sell new or secondhand tonnage. C. Free Alongside Ship (FAS) Incoterms are one of most important features of international trade , but sadly, one of the most misunderstood: they feature regularly in the lives of a wide range of people involved in exporting or importing (sales, customer service, purchasing, accounts, freight and shipping personnel). Using Incoterms properly as part of a sales contract provides clarity for both parties, gives certainty over costs, and reduces the risk of disputes and disagreements with clients or suppliers. One of the most frequently used incoterms are FAS (Free Alongside Ship). Free Alongside Ship (“Cost and Freight”) means that the seller delivers the goods on board the vessel or procures the goods already so delivered. It is a trade term requiring the seller to deliver goods to a named port alongside a vessel designated by the buyer. “Alongside” means that the goods are within reach of a ship’s lifting tackle. When used in trade terms, the word “free” means the seller has an obligation to deliver goods to a named place for transfer to a
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
