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There is normally an intermediary involved, ie a bank or an agent acting on behalf of the seller, to ensure that the transaction takes place smoothly.
Certificate of Origin A certificate stating the country of origin of the goods.
Depending on the importing country's requirements, this can be as simple as being issued by the seller or the manufacturer.
In most cases however, it is required to be issued by a Chamber of Commerce in the country of origin.
The bank's guarantee is accepted because of their status and creditworthiness compared to that of their customer.
Often used in conjunction with major projects, in the form of Bid Bonds, Performance Bonds and Warranty Bonds, commonly for 10% of the contract value, all of which provide the buyer with a measure of comfort should the seller not fulfil his obligations at various stages of the contract.
The issuer will require the holder to give them security by way of a bank guarantee.
Cash against Documents (CAD)An arrangement whereby the buyer pays for goods as soon as the buyer receives the seller's documents.
Container ship Ship designed to take ISO (International Standards Organisation) containers in vertical cells within the ship's holds as well as on the deck.
These ships generally rely on infrastructure on the wharf to load and unload the containers.
Air Waybill (AWB)The document which covers transport by air.