- •Banking 1 documentary credit
- •1.1 The importer applies to the bank for opening the credit
- •1.2 The buyer places an order and informs the seller of the opening of the l/c
- •1.3 The seller receives the order and confirms it
- •1.4 The bank advises the seller that the credit is available (I.E. Confirms the credit)
- •1.5 The seller sends the documents to the bank
- •Documentary credit part II
- •2.1 The buyer replies to the seller’s request to prolong the time of delivery and discusses amendments to the l/c
- •2.2 The buyer advises the bank of the amendment agreed upon with the seller
- •3.1 The buyer informs the seller of discrepancies in the documents
- •3.2 The buyer advises the seller of payment and asks to comply with the requirements of the credit
- •4 The bank advises the buyer of payment
- •Part II
- •Vocabulary
- •Part II
- •Part II
- •Banking 2 documentary collection. Some aspects of commercial banking
- •1.1. The collection order of a bank
- •1.2 Documents are presented for collection
- •1.3 A collection order is not acknowledged
- •1.4 Returning the accepted drafts
- •1.5 Payment guarantee granted by the bank
- •2 Letter of guarantee
- •2.1 Correspondance on letter of guarantee
- •2.2 Payment guarantee granted by the bank
- •2.3 Performance guarantee granted by the bank
- •Part II
- •3 Some aspects of commercial banking
- •3.1 Opening a current account
- •3.2 Problems on standing order
- •3.3 Request for an overdraft
- •3.4 Advice of granting an overdraft
- •Vocabulary
- •Part II
- •Part II
- •Transportation
- •1.1 Request for a quotation for delivery by road
- •Quotation for delivery by road
- •1.3 Advice of delivery from consignor to consignee
- •1.4 Waybill
- •2.1 Delivery by rail
- •2.2 Consignor's reply
- •2.3 Railway bill
- •3.1 Delivery by air. Enquiry for freight rates
- •3.2 Quotation for delivery by air
- •3.3 Airway bill
- •1.4 Waybill
- •2.3 Railway bill
- •3.3 Airwaybill
- •Consignment; to consign
- •Vocabulary
- •Marine transportation
- •Request for freight rates and sailings
- •Shipping company’s reply
- •1.3 Shipping instructions sent to a shipping company
- •1.4 Instructions to a forwarding agent
- •1.5 Advice of despatch
- •1.6 Bill of lading
- •2.1 Telex enquiry for a time-charter
- •2.2 Enquiry for a time-charter
- •2.3 Offer of a vessel for carrying ore
- •2.4 Shipbroker’s reply confirming the fixture of a vessel
- •2.5 General charter
- •1.6 Bill of lading
- •2.5 General charter
- •Liner vs tramp
- •Cargo, freight, load
- •Shipping conference
- •Baltic Exchange
- •Loading dates
- •Vocabulary
- •Packing and marking
- •1.1 Enquiry to a container company
- •1.2 Container company’s reply
- •2.1 Customer’s instructions to packer
- •2.2 Packer’s information to customer
- •3 Information about marking
- •Barrel, cask, hogshead, keg
- •2. Paint vs dye
- •3. Stevedore, stevedores
- •Vocabulary
- •Contract of carriage
- •Carnet; tir Carnet; tir; cmr
- •Vocabulary
- •Insurance
- •Request for marine insurance quotation
- •1.2. Quotation for marine insurance
- •1.3. Claim
- •1.4. Reply to claim
- •2.1. Request for open cover
- •2.2. Quotation for open cover
- •2.3 Notification of shipment under open cover
- •Indemnification vs indemnity
- •Average
- •Average adjuster, average adjustment
- •4. Assessor
- •5. Underwriter
- •6. Interest
- •Vocabulary
Transportation
FOCUS 1. Read and discuss the lead-in and the letters.
LEAD-IN
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The method a consignor chooses to deliver the goods depends on whether his main consideration is speed, direct delivery, limiting handling, or economy, and this obviously relates to the type of consignment being sent.
The three main methods of transporting goods, besides shipping which will be dealt with in block Marine Transportation, are road, rail, and air.
Road transport tends to be comparatively cheaper and more direct than rail. It offers a door-to-door service. In the past few years haulage has increased dramatically due to faster services, road improvements and the introduction of containers, which allow for bulk transportation.
Rail transport is faster than road, which is necessary especially when transporting perishable goods. It can haul bulk commodities in greater volume than road transporters. Transhipment, i.e. transferring the goods from train to truck, can still be a problem. Rail transport tends to be comparatively more expensive than road haulage. Sometimes special wagons, both open and closed, are used, and these include refrigerated wagons for perishable goods and tanks for liquids being transported in bulk.
Air transport. Some goods lose value over time or deteriorate; therefore air transport is used for speed, particularly over long distances. Insurance tends to be cheaper as consignments spend less time in transit. However, with bulk consignments, air is much more expensive, and can be uneconomical.
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Documents used in transporting the goods
The main document used in air transport is Air waybill (AWB), which consists of copies distributed to the airline, exporter, importer, and customs. Unlike the Bill of Lading the AWB is only a receipt and cannot be transferred to another person.
Consignment notes are used in road and rail transportation, and like the Air waybill they are receipts and are not documents of title so ownership of the document does not mean ownership of the goods. They are not negotiable, i.e. they cannot be bought, sold, transferred by the consignor or the consignee. The waybill is sometimes the main transportation document in shipment by truck. Consignment notes and waybills are obtained by the consignor filling out an instructions for dispatch form, and paying the freight charges. These charges are calculated in size (volume), weight, or value, and sometimes risk, particularly if special precautions are to be taken.
Rail Waybill serves as a shipping document. The date stamped on the Rail Waybill by the frontier station authorities or customs may confirm crossing the border or may be considered the date of delivery.
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