Terms related with sea trade

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Seller and Buyer :- are the parties contracting with each other for delivery of goods.

Shipper:- Who contracts for the carriage of goods by sea and delivers the goods into ship owner's care, whether this party is seller or an agent of the seller.

Freight forwarder :- is a transport intermediary, operating in liner trades, who arranges the export of another party's goods (by land, sea or air) and forwards the goods into the care of sea carrier.

Carrier:- is a party who contracts with a shipper for the transport of goods by sea.

Consignee:- is a party to whom the goods are consigned or sent by the shipper. He may be buyer or import agent for buyer.

Receiver:- is a party who takes receipt of the goods from the sea carrier at the port or place of delivery.

Notify party:- is the party who must be informed by the carrier of the ship's arrival.

INCOTERMS :- is a set of rules, published by International chamber of commerce, for uniform interpretation of the most commonly used trade terms used in international trade contracts.

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