What You Need to Know About Your Freight Shipping Options

Slides:



Advertisements
Similar presentations
Incoterms: International Commercial Terms are contract terms that show transport obligations, costs and risks. When we buy, it tells us: If we have to.
Advertisements

The Sales Journal and the Purchases Journal
CHAPTER VI INTERNATIONAL TRADE TERMS
Eastern Mediterranean University BANK406 Corporate Banking Law and Practice Chp 2 Bilge Oney, Ph.D. Faculty of Business and Economics Department of Banking.
INCOTERMS  2010 ICC Rules for the use of Domestic and International trade terms Entry into force: 1 January Ashit Hegde.
Accounting for Merchandising Businesses
The Operating Cycle and Merchandising Operations 6.
6.01 What is Merchandise Inventory?
6 Accounting for Merchandising Businesses Accounting 26e C H A P T E R
Physical Distribution Marketing Co-Op. What is Physical Distribution? The key link between a business and its customers – also known as logistics.
Incoterms - International Commercial Terms ICC 2000 By Linda Holtes.
Canyons School District Freight Terms Identified.
CHAPTER 8 Transportation. Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin 8-2 Factors Influencing Transportation.
@ 2012, Cengage Learning Accounting for Merchandising Businesses LO 3c – Recording Freight and Sales Tax Transactions.
Chapter 7 Transportation and Delivery McGraw-Hill/Irwin Purchasing and Supply Management, 13/e © 2006 The McGraw-Hill Companies, Inc., All Rights.
INCO Terms. 2. Determine (Incoterms) Terms of Sale Exporter must know the terms before preparing a quotation or a pro forma invoice. Incoterms are standardized.
Massimiliano Di Pace1 INTERNATIONAL TRANSPORTATION The topics are: - international transportation ways - Incoterms Exporters have to choose the carrier,
Setting Price. Compute Exporter’s Selling Price Nelson, p. 31 Ex. 2-5 Manufacturer’s (Factory) Cost + Your Commission + Freight forwarder fee + Freight.
THE INTERNATIONAL TRADE TRANSACTION
12.2 Cash and Trade Discounts
Chapter 13 Physical Distribution and Documentation.
OCEAN CARGO Presented by: Maryann Sokolowski February 25, 2009.
( BILL OF LADING ) GROUP MEMBERS MUHAMMAD ZHARIF IHSAN BIN IDRUS MUHAMMAD NASHRULLAH BIN JEMANGI MUHAMMAD SUFIAN AFIANTI BIN ZULKEPLI ZHAFRI SYAZWAN BIN.
Chapter 16 Using Math in Sales 1 Marketing Essentials Chapter 16 Using Math in Sales Section 16.3 Purchase Orders and Invoices.
Incoterms 2010.
Chapter 15 International Logistics. I.International Logistics - the designing and managing of a system that controls the flow of materials into, through,
Transportation Costs and Pricing Transportation Costs FOB vs Delivered Pricing Value of Service/Differential Pricing Optimal Pricing Factors that Affect.
INTERNATIONAL LOGISTICS Source: International Business (1998). Fifth Edition. Zinkota, M., Ronkainen, I., and Moffett, M. Fort Worth: The Dryden Press.
Transportation Management: Carriers’ Perspective.
Chapter 2 Documents of Import & Export
© 2002 Thomson Learning, Inc. CHAPTER 15 International Logistics and Supply-Chain Management Text by Profs. M. Czinkota, I. Ronkainen, and M. Moffett Multimedia.
Accounting for Purchases and Cash Payments
Public Education Partnership Seminar September 1, 2015
Chapter 5 Part 1.  Businesses that sell a product to customers  Inventory ◦ Merchandise held for sale ◦ Asset account Copyright (c) 2009 Prentice Hall.
Chapter 9 Accounting for Merchandising Operations.
Purchasing & Stock Handling
Accounting Is Fun! 1 Chapter 10 & 11 Special Journals.
Needles Powers Principles of Financial Accounting 12e Accounting for Merchandising Operations 6 C H A P T E R ©human/iStockphoto.
5-1 Quest will occur on Thursday October 9 2 Unit 2: Chapter 5.
Module 3: Getting Products To Market
Purchase Orders, Invoices, and Shipping Chapter 16 Sec 3.
Physical Distribution and Documentation
Chapter 2 MR. MOHAMMED BABIKER - FALL-15/16 MR. MOHAMMED BABIKER - SPRING 15/16.
5 MERCHANDISING OPERATIONS AND THE MULTIPLE-STEP I/S.
1-1 Logistics Management LSM 730 Dr. Khurrum S. Mughal Lecture 18.
(c) Port Community Systems CONSIGNMENT The transportation of an individually identifiable collection of goods items from one consignor to one consignee.
CHAPTER SIX THE BUSINESS OF FOREIGN TRADE. Facilitating international trade is one of the most important activities of a bank’s international department.
Chapter 15, Section 1 Accounting for Purchases and Cash Payments.
IE 8580 Module 2: Transportation in the Supply Chain
Inventories: Measurement (Part 1)
Chapter 5: ACCOUNTING FOR MERCHANDISING OPERATIONS
สินค้าคงเหลือ (Merchandise Inventories) Chapter 8 2.
EXPORT/IMPORT PROCEDURES
Accounting for Merchandising Operations in Hospitality
Freight Shipping Tips
THE BUSINESS OF FOREIGN TRADE
5 Accounting for Merchandising Operations
Things to Know When Shipping Freight
Inventory Costing – Part 1
Different Types of Freight Shipping and Charges
Getting the Most From Ocean Freight Services
What Exactly Is Intermodal Transportation?
Shipping and Freight - A to Z
5 Accounting for Merchandising Businesses
Accounting for Merchandising Businesses
Purchase Returns and Allowances
Offer.
Accounting for Merchandising Businesses
Physical Distribution
Eastern Mediterranean University
Presentation transcript:

What You Need to Know About Your Freight Shipping Options As your business grows and you find that you need to find more efficient ways to ship your goods to Đustoŵers iŶ a tiŵely ŵaŶŶer, it’s iŵportaŶt to kŶow what your optioŶs are wheŶ it comes to freight shipping. One of the most innovative options for making sure your products get to the right place at the right place is intermodal transportation. For this method, special containers and trailers are used to keep the items safe and intact throughout the duration of transit. In order for this type of freight shipping to work, products are often moved from truck to train or train to ship or truck to ship. Different modes of transportation are often needed to ensure that the items get to their intended destination, but there are also instances in which the goods are simply taken to a loading dock where the products travel by sea, or to an airport so that the goods are shipped to customers via air. If you need your products to get to the buyer quickly, air and sea options are often best. If you have a partnership with another business or are shipping the goods to a regular customer, land transportation like trains and trucks could be suitable, since you can stick to a shipping schedule and customers can count on you to get the products they need on a consistent basis. Free on Board Origin Free on board or FOB origin refers to the time during the shipping exchange when the seller gives the merchandise rights to the buyer, which means the buyer assumes ownership. In an FOB instance, the freight is the responsibility of the consignees who will be at the shipping dock, and this consignee has to pay all of the costs associated with shipping. FOB Origin In this instance, the freight is the responsibility of the consignee at the shipping dock; the shipper has to pay all the freight charges for the shipment. You can also select FOB origin with a freight prepaid and charged back, which means that the consignee is responsible for the freight oŶĐe the produĐt gets to the shipper’s doĐk. The shipper will also pay for all Đharges assoĐiated with the freight, and the shipper then invoices the consignee for these charges. FOB Destination Options For FOB destination shipping, the goods title is passed at the ĐoŶsigŶee’s doĐk. The shipper is responsible for the charges associated with the freight. The freight is only shipped once all fees are paid. Freight collect is another FOB destination option, and this means that the title for the goods passes the doc of the consignee and consignee pays for all associated freight charges. Or, you can select FOB destination with the freight collect and allowed option. The title gets to the consignee dock and the consignee has to pay the freight charges that the carrier has incurred. The fright charges are then deducted from the invoice that the seller receives for the products.

Make sure that you Đhoose your freight shippiŶg optioŶs ďased oŶ how ofteŶ you’ll ďe shippiŶg goods and how much you need to ship each time to figure out the payment arrangement that is right for you. Article Source: freight-shipping-options/ ht p:/ d-to-know-about-your- freight-shipping-options/