Backdated Shipping Insurance Policies: Risks and Legal Nuances Explained

Backdated Shipping Insurance Policies: Risks and Legal Nuances Explained

A backdated insurance policy refers to an agreement where the insurer, at the request of the insured, retroactively sets the policy's inception date to before the shipment of goods, requiring mutual consent. This practice carries a fraud risk by potentially concealing the true date of the insurance contract. Insurers typically demand a guaranty letter to mitigate potential liabilities, ensuring that coverage is limited to risks occurring after the actual policy inception date.

07/28/2025 Logistics Encyclopedia
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Delayed Payment Fees Impact Import Process Efficiency

Delayed Payment Fees Impact Import Process Efficiency

A late payment fee refers to the charge that freight forwarders or customs brokers impose on customers after paying customs duties and value-added tax on their behalf, typically calculated as a percentage of the amount paid. Understanding this fee can help businesses optimize their import processes, control costs, and enhance market competitiveness.

08/05/2025 Customs Knowledge
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Rising Risks in LCL Shipments Prompt Calls for Better Cargo Protection

Rising Risks in LCL Shipments Prompt Calls for Better Cargo Protection

LCL cargo inspection involves uncertainty due to potential issues with other goods in the same container. Choosing a reliable freight forwarder, accurate declaration, providing detailed documentation, and purchasing cargo insurance are crucial for mitigating risks. Careful operation is essential to ensure cargo safety. The uncertainty of LCL inspection can be affected by other cargoes in the same container, so choosing a reliable freight forwarder is very important.

08/23/2025 Logistics Encyclopedia
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Guide to Streamlining Ocean Freight for Exporters

Guide to Streamlining Ocean Freight for Exporters

This article details the nine key steps of export sea freight, including inquiry and quotation, order placement, booking, container loading, inspection and customs declaration, bill of lading (B/L) verification and confirmation, B/L issuance, reconciliation and payment settlement, and release of cargo. It aims to help shippers understand the sea freight process, reduce transportation costs, and improve efficiency.

08/21/2025 Logistics Encyclopedia
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Port Delays How to Rebook Containers and Avoid Shipping Delays

Port Delays How to Rebook Containers and Avoid Shipping Delays

This article focuses on the situation where cargo containers are delayed due to inspection, preventing them from being loaded onto the ship on time. It details the specific re-allocation process at Waigaoqiao and Yangshan ports, including applying for a non-loading certificate, canceling the customs declaration form, and modifying port area information. The aim is to help foreign traders cope with unexpected situations and minimize losses caused by cargo delays. It provides a practical guide to navigate the re-allocation procedures in these specific port locations.

08/22/2025 Logistics Encyclopedia
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Shanghai Port Strives To Enhance Container Throughput And Seize Global Leadership Position

Shanghai Port Strives To Enhance Container Throughput And Seize Global Leadership Position

Shanghai Port aims to enhance container throughput and maintain its position as the world's leading port by improving its transportation system and establishing an international shipping center. The focus will be on regional collaboration and technological empowerment, promoting integrated transportation in the Yangtze River Delta to strengthen economic circulation. Additionally, efforts will be accelerated on railway and highway construction to ensure efficient connections between major cities and support regional development.

07/22/2025 Logistics Industry Insights
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How The Fashion Industry Leverages Logistics To Achieve Net-zero Goals

How The Fashion Industry Leverages Logistics To Achieve Net-zero Goals

On October 22, 2024, the Global Fashion Agenda hosted an online masterclass focused on how logistics can contribute to the sustainable development of the fashion industry. The event featured insights on using logistics to reduce carbon emissions, based on a collaboratively released report titled "Reverse Logistics in Circular Fashion Systems: Exploring Untapped Potential." The conference aimed to provide actionable guidance and tools for the industry to advance towards net-zero goals.

10/29/2024 Logistics
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Pearl River Delta Hub Airport Takes Off Building a Global Aviation New Engine for the Guangdong-hong Kong-macau Greater Bay Area

Pearl River Delta Hub Airport Takes Off Building a Global Aviation New Engine for the Guangdong-hong Kong-macau Greater Bay Area

The construction of the Pearl River Delta Hub (Guangzhou New) Airport is about to commence, marking a new phase in the aviation network of the Guangdong-Hong Kong-Macao Greater Bay Area. The new airport will alleviate pressure on Guangzhou Baiyun Airport, helping to develop a world-class airport cluster. It is expected to enhance air service and transportation capacity, promote regional economic development, and strengthen global connectivity.

05/20/2024 Logistics
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