In Part I of this two-part guide on incidental charges in the shipping process, you read about freight-related and customs-related incidentals. In Part II, we take a look at two other stages of the shipping process where exporters and importers might run into unexpected expenses:
It might not be fully possible to anticipate these incidental charges. Even then, a certain amount of planning and budgeting goes a long way in saving yourself the trauma of a huge shipping cost.
While shipping your cargo door-to-door, door-to-port or port-to-door, it is important to factor in the cost of ground transportation, some of which might go beyond the typical transportation charges you would encounter. Here are some common incidental charges related to inland transportation:
With hundreds of containers lost at sea every year, shipping is fraught with risks. Even if you’ve paid the utmost attention to packaging and securing your cargo, you can never account for every danger out there. A marine cargo insurance is the best way to protect yourself and have peace of mind while your cargo is in transit. To understand the extra charges you could incur on your marine cargo insurance, it is first important to understand what the insurance covers and what it doesn’t.
A marine cargo insurance covers loss or damage to cargo caused by:
A marine cargo insurance does not cover loss or damage to cargo caused by:
A marine cargo insurance is, however, not a water-tight defence against cargo loss and damage, and incidental charges might still arise in certain situations:
That wraps up the guide on incidental charges in the shipping process. Extra costs are a given in international trade and it might be impossible to avoid them all. But a little research and planning can help you avoid a good many of them and save you a lot of grief later.
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