- 4 Keys for Shipping:
There are four key elements for international trade (Shipping) knowledge; called 4Ts:
1- Transaction cost:
It relates to the economic exchange behind the trade. I.E. monetary exchange rates.
2- Tariff cost:
It relates to government fees imposed on coming (Import) cargo through the country.
3- Transportation cost:
It is related to charges including shipping freight by sea, air, and land.
4- Time cost:
Time takes to move the cargo from the factory, or supplier to receive it at the final destination.