12 Questions
What is the function of an ATA Carnet?
To act as a passport for duty and tax-free import of goods
What is the purpose of a Bill of Lading (B/L or BOL)?
To show ownership of the goods and release them to the recipient upon final payment
What are bonded goods?
Goods stored under customs supervision in bonded warehouses until duties are paid
What does a Carrier Owned Container (COC) signify?
Ownership of the shipping container by the carrier
What does the Bunker Adjustment Factor (BAF) aim to offset?
The fluctuating oil prices
When are Certificate of Origins usually needed?
To certify the country where the goods originated and lower import duties
What is the main difference between 3rd Party Logistics (3PL) and 4th Party Logistics (4PL)?
4PL involves outsourcing the entire supply chain management, while 3PL does not.
What is the significance of Actual Time of Arrival (ATA) in the shipping industry?
ATA usually refers to the Port of Discharge arrival date.
What does AEO Accreditation signify in the context of international supply chain?
It demonstrates high compliance with regulations and security in the international supply chain.
What does All Risks Insurance cover in transportation of goods?
It covers all risks associated with transportation, including accidents, loss, and damage.
Which statement accurately describes 3rd Party Logistics (3PL)?
3PL includes warehousing, terminal operations, and customs brokerage if required.
Why is it essential to know the Actual Time of Departure (ATD) in shipping?
It helps understand when goods departed from the Port of Discharge.
This quiz covers the concepts of 3rd Party Logistics (3PL) and 4th Party Logistics (4PL) in the shipping and freight industry. Learn about the outsourcing of transportation management, supply chain oversight, and additional services offered in these logistics models.
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