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
Wharfage is a fee paid for the use of a wharf or dock, typically for loading and unloading goods from or onto a vessel. It covers charges related to labor, storage, handling, and other associated services provided by the port facility to facilitate freight movement.
Wharfage can be charged on both imports and exports when goods are handled at the port. The fee may also include other costs such as pilotage fees (for navigational assistance), customs duties, taxes, insurance premiums, and other similar charges incurred while using a port’s facilities.