by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA BILL OF EXCHANGE is a payment instrument or draft that can sit alongside a purchase contract, documentary collection or letter of credit. Procurement should control who draws, accepts, endorses, presents and pays it; what shipment or invoice it references;...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Procurement, Supply Chain, Vendor Management
⚡ TL;DRAn ADVISING BANK communicates a letter of credit from the issuing bank to the beneficiary and may authenticate the message, but it does not automatically assume the issuing bank’s payment obligation. Procurement must align the LC with the purchase order,...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Supply Chain
⚡ TL;DRSSDER lists AAR as Against All Risks in insurance language, while A.A.R. elsewhere means the Association of American Railroads. Against All Risks is not literally cover for every loss. Procurement must define insured interest, perils, exclusions, deductibles,...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Procurement, Supply Chain, Vendor Management
⚡ TL;DRCMR is the international road carriage convention and the familiar road consignment-note framework; eCMR is the electronic form enabled by the Additional Protocol where the parties and jurisdiction support it. Procurement should define data, identity,...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Supply Chain
⚡ TL;DRA BOOKING NUMBER identifies a carrier’s space reservation or shipment instruction, but it becomes useful only when linked to the purchase order, cargo, documents, route, cut-offs, equipment, status and change history. Procurement should prevent duplicate...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Supply Chain
⚡ TL;DRBEYAN TUTARI is the value declared for a shipment or transaction. It may influence carrier liability, insurance, customs treatment or an express-value service, but those are not automatically the same value. Procurement should define the basis, currency,...
