In shipping, what is the difference between
FCL and LCL?
An FCL (Full Container Load) is a
shipping container filled only with the product of
An LCL (Less than Container Load)
is a container filled with the products of two or
The transit time of an FCL to the
receiver's warehouse is faster than an LCL,
because an LCL requires an extra few days
of unpacking time to separate the multiple
consignees goods prior to delivery.
5 rights of purchasing
The '5 Rights of Purchasing' are to have the:
Right Quality, the
Right Quantity, at the
Right Price, at the
Right Place, at the
Of course, things don't always happen the right
way! For instance, to get an item at the Right
Time, you may have to lower the Quality and/or
increase the Price you pay for it.
The market sector known as FMCG, stands for
Fast Moving Consumer Goods. This sector is mainly
concerned with the production of goods for the
mass market eg: goods for supermarkets.
Do you know what incoterm FOB stands for?
Its short for Free On Board and is a common
shipping instruction that buyers give to
suppliers, for land or sea transport. It means the
seller is responsible for getting the goods on
board the buyers requested transport. Once loaded,
all risks pass to the buyer.
What on earth is Force Majeure?
It's an exclusion of liability clause that
relieves parties of their obligations under the
contract in the case of unavoidable events such as
floods, war, political unrest to name a few.
It is French for 'Superior Force'. You will
find a clause of this kind in most contracts.
A framework agreement is where the buyer and seller have set out the terms
and conditions (pricing, delivery, time period)
under which the buyer will purchase a specified
amount of products/services. Under a framework
agreement, a contract only starts its formation
when the buyer places an order (aka calls-off)