The maximum amount of money for which a carrier is legally liable for loss or damage to cargo. This is surprisingly low. For example, under the Warsaw Convention it is 17 euros per kilo for airfreight shipments.
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Payment terms used in bank collections that require the drawee to pay before receiving certain documents. Typically, the drawer will send these documents to the drawee´s bank with instructions that it secure payment before releasing them. Also called payment at…
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