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 | Cost Reduction, Procurement, Supply Chain, Vendor Management
⚡ TL;DRCOFC means Container On Flat Car: an intermodal movement in which a freight container travels on a rail flatcar. Procurement should specify container and flatcar compatibility, lift and terminal processes, drayage, interchange, schedule, securing, damage...
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 | Cost Reduction, Procurement, Supply Chain, Vendor Management
⚡ TL;DRBROKEN STOWAGE is the space lost because cargo shape, packaging, securing, incompatibility or the load plan prevents full use of a vessel, vehicle, container or warehouse position. Procurement should measure the loss, identify its cause and balance stowage...
