Find out how to survive in 1999

CARGO OFTEN goes missing in transit and a dispute arises because the two companies, who may have traded for many years, are using the incorrect commercial terms, says Sean Wheeler, director of Freight Training.
It has also been observed that what can be termed 'experienced' companies frequently have to pay demurrage charges arising from late arrival of documentation for the same reason. They often have to arrange for an expensive bank indemnity because original documents haven't arrived, he says.
Freight Training's next seminar dealing with these matters will be held on January 21, with the overriding question of: 'will your company survive 1999 either as an exporter or as an importer?'
Most companies don't realise they should not be using a bill of lading unless they have specific need to negotiate title, and many are still using terms such as FOB, CIF and CFR, and are trading dangerously and inefficiently as a result, he says.