Test your shipping knowledge – week 49 – 2008

Thought that this would be a good way to find out what we know and dont know about shipping – basically the work that we do on a daily basis.. It will be a series of questions on a weekly basis.. Starting with week 49..

See how many points you can get.. Give yourself 2 points for each right answer..

1) What is meant by the term DDP..??

2) What is the significance of the term Ex-Works..??

3) Which is the 1st page of a bill of lading

4) What is a Stale B/L..??

5) What is a letter of credit..??

If you are confident, you can provide the answers in the comments area.. It will help others that dont know the answers..

Answers will be posted for the first set when the next set of questions are posted.. Have fun and learn..


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16 thoughts on “Test your shipping knowledge – week 49 – 2008

Be part of the discussion and share your views about the article here..

  1. This is one of the most resourceful & well-managed sites I have ever come across (pertaining to Shipping knowledge)..Many thanks for the same.!! Serves as a preparatory trainer for students as well as people ‘On the job’. Keep up the Good Work..! CHEERS! \m/

    • Hello Advaith, thank you for your comment.. Please do circulate the blog’s address to everyone that you know who might be looking for such information.. This blog was designed for information sharing..

  2. Hi Hiren,

    You are a star. This is very informative. Keep up the good work of informing your collegues in the industry.

  3. 1st Ans. is Delivered Duty Paid

    2nd ans is Ex. works is all charges paid by buyer from Pick of cargo from seller doorstep till delivery.
    4. B/L presented to its consignee, or at a bank, after the last date specified in the relevant letter of credit and which, therefore, is not acceptable as a valid document. According to the uniform commercial code (UCC), a B/L may be rejected if presented more than 21 days after the date of arrival of the shipment.

    5. Written commitment to pay, by a buyer’s or importer’s bank (called the issuing bank) to the seller’s or exporter’s bank (called the accepting bank, negotiating bank, or paying bank).

  4. pls i would like to join this web site and benefits from up to date comments and information pls keep me posted.

  5. Stale B/L is the B/L which is submitted by exporter to the bank on a date later than time permitted by L/C to negotiate the B/L. Usually it’s 10 days or 20 days from date of shipment.

  6. I do not want to make your answers too easy, but you can find the info on INCOTERMS
    here, the question on letters of credit here here (please admire the colourful diagram) and a sample bill of lading here.