Liner In Liner Out ( CY to CY ) - Carrier bears the costs for loading at loading port, sea voyage up to cargo discharged at discharging port.
They define the condition / responsibility of cost under which a carrier has had at port of loading to port of discharge. As such they also determine the freight / charges payable for loading & discharging the cargo from the vessel in their quotation, according to the customs of the port and it is not internationally codified.Ĭarrier cost responsibility under respective Liner Terms: (l) Unconfirmed: A letter of credit forwarded to the beneficiary by the advising bank without engagement on the part of the advising bank. (k) Transferable: A letter of credit that allows the beneficiary to transfer in whole or in part any amount of the credit to one or more third parties provided that the aggregate of such transfers does not exceed the amount of the credit.
(j) Straight: A letter of credit that contains a limited engagement clause addressed to the beneficiary state that the issuing bank promises to pay upon presentation of the required documents at its counters or the counters of the named bank (i) Revolving: An irrevocable letter issued for a specific amount renews itself for the same amount over a given period (h) Revocable: An instrument that can be modified or cancelled at any moment without notice to and agreement of the beneficiary, but customarily includes a clause in the credit to the effect that any draft negotiated by a bank prior to the receipt of a notice of revocation or amendment will be honored by the issuing bank (g) Restricted: A condition within the letter of credit which restricts its negotiation to a named bank (e) Irrevocable: An instrument that, once established, cannot be modified or cancelled without the agreement of all parties concerned (f) Non-cumulative: A revolving letter of credit that prohibits the amount not used during the specific period to be available in the subsequent periods (d) Deferred Payment: A letter of credit issued for the purchase and financing of merchandise, similar to acceptance-type letter of credit, except that it requires presentation of sight drafts payable on an installment basis (c) Confirmed: A revolving letter of credit that permits any amount not utilized during any of the specified periods to be carried over and added to the amounts available in subsequent periods (b) Clean: A letter of credit that requires the beneficiary to present only a draft or a receipt for specified funds before receiving payment
(a) Back-to-Back: A secondary letter of credit issued to a beneficiary on the strength of a primary credit tariff schedule (TSUSA) in January 1988.) The Harmonized System (HS) is scheduled to supplant the current U.S. duty rates will be the 8-digit level statistical suffixes will be at the 10-digit level. will add digits for tariff and statistical purposes.
IMPORT DISCHARGED FROM VESSEL MEANING CODE
Sections encompass an industry The basic code contains four-digit headings and six-digit subheadings. It is organized into 99 chapters arranged in 22 sections. Developed under the auspices of the Customs Cooperations Council (CCC), an international customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. Transporters, exporters, importers, customs officials, statisticians, and others in classifying goods moving in international trade under a single commodity code. A multi-purpose international goods-classification for manufacturers.
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