Do You Have Basic Idea About Freight Forwarding?

The correct answer is "incoterm." Incoterm is short for International Commercial term. It is a set of rules that define the responsibilities of buyers and sellers in international trade transactions, specifically in terms of the delivery of goods and the allocation of costs and risks. Incoterms are widely used in international contracts to avoid misunderstandings and clarify the obligations of each party involved in the transaction.

CFR stands for Cost and Freight. It is a trade term used in international shipping to indicate that the seller is responsible for the cost of the goods and the freight charges to transport them to a named destination port. This means that the seller covers the cost of the goods and their transportation to the agreed port, while the buyer is responsible for any additional costs, such as insurance and customs duties, as well as the risk of loss or damage to the goods after they are loaded onto the vessel.

BIFA, or the British International Freight Association, has 1500 corporate members. These corporate members are part of BIFA, indicating that they are associated with the organization in some capacity. The other options of 1800, 2000, and 2,200 are not the correct number of corporate members for BIFA.

The correct answer is The British International Freight Association. BIFA is an organization in the UK that represents the interests of the international freight forwarding and logistics industry. They provide support and guidance to their members, promote best practices, and advocate for the industry.

The FFFAI in India employs over 110,000 people. This indicates that the organization has a large workforce in India, which suggests that it is a significant entity in terms of employment.

The Pakistan International Freight Forwarders Association (PIFFA) has more than 500 freight forwarding companies in Pakistan.

In 1836, the first freight forwarding company was established. This suggests that prior to this year, there were no formal companies dedicated to the transportation and logistics of goods. The establishment of this company marked a significant development in the field of freight forwarding, indicating the recognition of the need for specialized services in the transportation industry.

The transferring document fee for transporting goods by sea is commonly known as "ocean freight charges". This fee covers the cost of handling, documentation, and transportation of goods through ocean carriers. It is a standard practice in international trade to include these charges as part of the overall cost of shipping goods via sea.

The correct answer is Free on Board. Free on Board (FOB) is a term used in international trade to indicate that the seller is responsible for the goods until they are loaded onto the transportation vessel. Once the goods are loaded, the buyer assumes the responsibility and any risk associated with the shipment. This term is commonly used in shipping contracts to determine the point at which ownership and liability transfer from the seller to the buyer.

The CIFFA (Canadian International Freight Forwarders Association) was established in Canada in 1948.