Published by the International Chamber of Commerce, Incoterms (short for International commercial terms) serve as standards for the uniform interpretation of common contract clauses in international trade.
The global pharmaceutical market is booming, having grown an estimated 23 percent over the past four years to its current estimated US$10.28 billion value. Shipping and handling of pharmaceutical products is a specialized process that requires care and expertise to ensure product safety and efficacy.
The IMO– the International Maritime Organization – is an agency of the United Nations that is responsible for the safety and security of shipping, and the prevention of marine pollution by ships.
On January 1, 2020, the IMO is reducing the maximum allowable sulphur content of marine fuels (a.k.a. bunker fuel oil) from the current 3.5% to 0.5%. This is likely to impact the shipping supply chain – with respect to both cost and supply – as the industry prepares to meet the new requirements.
The process of clearing goods through U.S. customs can seem a bit cumbersome and confusing. In this blog, we’ll aim to clarify the legal requirement to use “reasonable care” when importing goods into the U.S.
The Canada Border Services Agency (CBSA) targets specific industries and products for extra attention at the border to ensure importers are compliant with requirements for tariff classification, product valuation and country of origin.
Canada is already known for having one of the strongest food safety systems in the world. Soon, the Canadian Food Inspection Agency (CFIA) will roll out new regulations that will raise the standard even higher – while also streamlining the regulatory system and aligning Canadian businesses with existing requirements in other countries.
Country of origin is an important piece of information on all import documents. Even more so now, with increasingly more U.S. products being subject to duties in the ongoing “trade war” between our two countries. Incorrectly indicating the U.S. as the country of origin could mean you'll unnecessarily pay hundreds or thousands of dollars in duties and surtaxes.
Most industries and workplaces – not to mention sports and pastimes – have their own jargon, which often includes a whole vocabulary of acronyms. The shipping and logistics industry is no exception. Even if you’re properly familiar with an industry, there are probably some that still give you pause – or seem downright foreign.