Cargo Insurance (also known as ’marine’ or ’goods in transit’ insurance)

Cargo Insurance (also known as ’marine’ or ’goods in transit’ insurance)

Insurance undertaken by an exporter or importer to protect themselves against the risk of loss or damage to goods in transit, over and above the limited liability cover offered by carriers or forwarders. Cargo insurance is required under some Incoterms and may be a requirement when selling through a letter of credit.

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Certificate of Origin

This certificate proves that your goods have been manufactured or processed in a particular country. A Certificate of Origin is usually required for overseas customs clearance and can determine the level of duties payable. It is generally issued by a Chamber of Commerce and is required by some countries to establish the place of manufacture

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CHIEF (Customs Handling of Import Export Freight)

Until 2019, the Customs Handling of Import & Export Freight (CHIEF) was the computer system HMRC used to record all goods moving by land, air or sea. CHIEF allowed importers, exporters and freight forwarders to complete customs formalities electronically and calculate revenues due on those movements. HMRC closed its Customs Handling of Import and Export

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Clean Bill of Lading

A clean bill of lading is a document that declares there was no damage to or loss of goods during shipment. The clean bill of lading is issued by the carrier after thoroughly inspecting all packages for any damage, missing quantities, or deviations in quality.

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Clearance

The documented permission to pass that a national customs authority grants to imported goods so that they can enter the country, or to exported goods so that they can leave the country. The customs clearance is typically given to a shipping or customs agent to prove that all applicable customs duties and any other charges

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Community System Provider (CSP)

A Community System Provider (CSP) provides direct interface between a computerised inventory system used at an inventory—linked port, airport or temporary storage and HMRC frontier systems (e.g. the Customs Declaration Service (CDS)). They record and track movements of goods within ports, airports and inland temporary storage facilities. In UK there are 5 HMRC approved CSP’s

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Consignee

Consignee is the receiver of the shipment and is usually the owner of the goods. This is the party to whom the goods are consigned/ shipped. It may be an individual or a company. 

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Consignment

A consignment is an arrangement where goods are delivered from an exporter (the consignor/sender) to an overseas party (the consignee/importer/receiver) under a sales contract or a delivery/contract of carriage agreement.

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