Trade
Triangular Operation
International commercial transaction involving three parties in different countries where goods are shipped directly from seller to final buyer, but invoicing goes through an intermediary in a third country.
International commercial transaction involving three parties in different countries where goods are shipped directly from seller to final buyer, but invoicing goes through an intermediary in a third country.
International commercial transaction involving three parties in different countries where goods are shipped directly from seller to final buyer, but invoicing goes through an intermediary in a third country.
Switch BL
Second bill of lading issued in replacement of the original to change data such as consignee, shipper, or port. Used in triangular operations where an intermediary does not wish to reveal the source of goods.
LogisticsBack-to-back BL
Pair of bills of lading used in commercial intermediation operations where the second BL replaces the first with different shipper and consignee data. Common in trading companies.
DocumentsBill of Lading (B/L)
An ocean transport document issued by the carrier that serves as a contract of carriage, receipt of goods, and document of title to the cargo.
ValuationCustoms Valuation
Process of determining the customs value of imported goods using the six methods of the WTO Valuation Agreement, used to calculate duties and taxes.