A Free Trade Zone (FTZ) can be described as a specific region within a nation’s borders where merchandise can be brought in, warehoused, handled, and sent out again in accordance with particular customs rules, typically without the imposition of customs tariffs. These regions are frequently situated near significant maritime harbors, global air terminals, and the nation’s boundaries—locations that possess numerous geographical benefits for commerce.Read More
Find easy-to-understand explanations of the most common freight forwarding and shipment terms
Demurrage is a fee charged by the terminal per container for delays in unloading the cargo. It generally applies when the goods are not unloaded within an agreed-upon period and after the Last Free Day, and is intended to cover additional costs incurred due to the delay.
Demurrage fees may be calculated based on per diem rates, although other methods may also be used. Sometimes, demurrage fees can be waived if certain conditions are met.