Exam (elaborations)
Freight Forwarding Questions with correct Answers 2023
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Exam of 7 pages for the course AWB at AWB (Freight Forwarding)
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Freight ForwardingCFS - answer Container Freight Station- a facility where freight shipments are
consolidated or de-consolidated, and staged between transport legs. A CFS is typically
located in proximity to an ocean, port, or airport where cargo containers are transported
to and from. The CFS charges a fee for this deconsolidation or consolidation service,
based on the volume of the cargo.
Dumping - answer When foreign manufacturers sell products in the United States at
a lower cost than their fair value.
Anti-Dumping Duties - answer Anti-dumping duties are priced to make up for the gap
between foreign manufacturer pricing and fair market value. If applicable, anti-dumping
duties may be anywhere from 0% to 550% of the commercial invoice value.
Commercial Invoice - answer In foreign trade, a commercial invoice is a customs
document. It is used as a customs declaration provided by the person or corporation
that is exporting an item across international borders
Airway Bill (AWB) - answer (AWB) is a non-negotiable document issued by a carrier
when goods are transported by air.
An air waybill acts as delivery instructions, a contract of carriage, and a cargo receipt for
air freight.
Container seal - answer Container seals are placed on shipping containers once it
has been loaded as a security measure to ensure that the container is not opened with
while in transit to its final destination. The container seal will be locked onto the door of
the container, and has a unique number that is also listed on all shipping documents
Feeder Vessel - answer Small vessels that transport containers from feeder ports to
hub ports, which are then loaded onto a mother vessel.
Mother Vessel - answer Are large vessels that only serve major ports.
Garment on Container - answer A container loading method for garment-like
commodities. The container is outfitted with racks so that the products can be hung just
like you would see in a retail store.
Non-Operating Reefer - answer Aka NOR or RAD (Reefer as Dry. Reefers are
temperature-controlled containers that are used for shipping commodities that require a
maintained temperature during transit.
, Due to the nature of the Asia-US trade lane, there is a big demand for reefers from US
to Asia (agricultural exports), but barely any demand from Asia to the US.
Carriers will offer discounts to fill up containers from Asia to US, since they need to
move the reefers back to the US anyway.
Considerations for Using Reefers: - answer 1. Less Volume (thicker insulated walls
for maintaining temperature)
2. Cheaper! Reefers need to make their way back to the US since there lots of
agricultural exports from US to Asia.
3. Limited commodity types
4. Reefers move food products which could cause them to smell.
5. Mostly 40' HC containers
Container Yard - answer a physical facility from which ocean carriers accept and
deliver ocean containers, as well as issue and receive back empty containers.
Hot Stow - answer Containers will be loaded at the origin port on top of the vessel
and stack of containers which then means at port of arrival those containers will be the
first containers unloaded from the vessel and ready for pickup. This can cut port dwell
time by 2-7 days depending on time of the year and congestion at respective ports.
Depending on the carrier, trade, and other cargo onboard, this service can cost $400 -
$1,000 per container.
ICD (Inland Container Depot) - answer a container yard located outside the port
vicinity. The purpose of having an ICD away from the port is to make it easier for
shippers to have to transport containers over long distances to reach the port. The
ocean carrier with the most convenient container yards will have a bigger competitive
advantage over other carriers.
Freight Type - answer Clients purchase freight from "", determined by Incoterms.
ex: client goes to "" to handle their shipment from door to door
Freight Service - answer The part of the shipment "" is purchasing carrier services
for.
Ex: "" Goes to X Carrier to execute shipment from Cy to CY
Telex Release - answer A type of original release where "" needs a scanned-and-
emailed copy of the bill of lading (with the word telex stamped on it)
Less painful
Bill of Lading - answer Document that serves 3 functions:
1. Contract of Carriage between different parties
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