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
Total Insured Value
Total Insured Value (TIV) is an insurance term referring to the maximum amount of coverage a shipper has purchased to protect their goods during transit. This value includes the cargo’s cost and any additional costs associated with its transport, such as freight charges or customs duties.
The total insured value should always be enough to cover all potential losses due to damage or other unforeseen events.