Last month I received an email from a potential foreign client regarding the Importer Security Filing (ISF) Rule, known in the international shipping industry as the “10+2” Rule. Specifically, this person wanted to know what the penalties were for failing to comply with the rule’s filing requirements. I’m not sure whether it was a coincidence or whether the writer knew that … [Read more...]
Why Your 3PL Contract Should Match Your RFP.
I work with a variety of business clients that have their own logistics departments to coordinate their international shipping operations. For many companies, however, having an in-house logistics department can really put a dent in a company's bottom line. That's why third party logistics providers or 3PLs have become so valuable. In selecting a 3PL, a company (the … [Read more...]
Why You Should Include INCOTERMS in Your International Contracts.
I received an email from a client in Brazil last week about an important international trade deal involving a buyer in the United Arab Emirates. The issue was that Company Y in Brazil was negotiating a contract with Company X in Dubai but was unclear how a key transportation term in the contract should be defined. The problem was easily worked out by incorporating INCOTERMS … [Read more...]