by Ekrem Duman | Sep 2, 2026 | Contract Negotiation, Procurement, Vendor Management
⚡ TL;DRAn agent acts for a logistics company or principal under a contract or authority. Procurement must define what the agent may quote, book, sign, receive, amend and collect; which tariffs and commissions apply; and how the principal remains accountable for local...
by Ekrem Duman | Sep 2, 2026 | Contract Negotiation, Cost Reduction, Procurement
⚡ TL;DRAccessorial charges are costs added to a base transportation rate, such as equipment rental, currency adjustment, delivery or handling fees. Procurement should define each charge, its trigger, unit, evidence, approval path, effective date and dispute rule so a...
by Ekrem Duman | Aug 30, 2026 | Contract Negotiation, Procurement, Sourcing
⚡ TL;DRA COMMON CARRIER generally holds itself out to the public to transport for compensation, while a contract carrier serves a defined customer or group under an agreement; exact definitions vary by mode and jurisdiction. Procurement should select the model...
by Ekrem Duman | Aug 30, 2026 | Contract Negotiation, Procurement, Supply Chain
⚡ TL;DRBARGEHIRE is a bareboat charter form for an unmanned, non-self-propelled seagoing barge. The charterer generally receives possession and operational control, so procurement must define condition, delivery, trading limits, towing interface, maintenance,...
by Ekrem Duman | Aug 1, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA LETTER OF CREDIT is a conditional bank undertaking that pays against a complying presentation under its terms and applicable rules. Procurement should design the credit around the purchase contract, feasible documents, shipment and presentation dates,...
by Ekrem Duman | Aug 1, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA BENEFICIARY is the party entitled to receive a payment, benefit or undertaking under an instrument such as a letter of credit, guarantee or insurance arrangement. Procurement must verify the legal identity, bank route, contract entitlement, sanctions status...
