Trade Technologies Articles

Cargo Insurance for Today: "We've Got You Covered!"

Sherri Lane, Director of Consulting and Insurance Services

When your product is at risk, it is critical to know that it is protected adequately. Your peace of mind is our foremost concern when it comes to covering your bottom line. Trade Technologies offers comprehensive coverage that is continually updated to meet today's shipping needs and risk exposures. Because every shipment has unique logistical applications and every product has its own type of exposure, we want to make sure that no stone is unturned when it comes to insuring your product against total loss or damage. The recognition of 'usual' circumstances, impending political unrest, or atypical risk is what makes us stand out from the crowd. We are confident you will experience cargo insurance coverage like none other offered on the market today at an affordable rate. Why do we think we are better? Here are a few reasons:

Incoterms 2010: What you really need to know

Sherri Lane, Director of Consulting and Insurance Services

The latest revision of Incoterms® 2010 issued by the International Chamber of Commerce (ICC) offers positive changes for international and domestic trade participants. The changes more accurately address today's logistics requirements, risks and liabilities. Incoterms® also has a huge impact on how quickly you can receive payment under Letter of Credit transactions. Representatives from 130 countries submitted revision requests yielding more flexible and inclusive decisions that can be applied to any country.

Shipment Consignment: Is It Risky Business?

Sherri Lane, Director of Consulting and Insurance Services

The Basics of Shipment Logistics

A transport document is required to get products moved logistically from place of origin to destination in the most direct route possible. A documentary letter of credit (LC) will require a transport document as proof that the exporter has sent the required goods in the manner agreed upon between the buyer and seller. The opening bank will stipulate the consignment instructions of the transport document and distribution of the 'original' document. These instructions reflect the risk the bank is willing to take and the standard import procedures at destination. Banks will also consider the time required to present negotiable documents to the advising and opening banks and the transportation cycle of the goods.