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If there is a surplus production of a commodity at some physical location and some one needs it , an exchange (trade) can take place . When many such exchanges take place between producers and consumers , channel of distribution need to developed .

A channel of distribution can be defined as collection of organization units , either internal or external to the manufacturer , which performs the functions involved in products marketing . The various marketing functions are buying , selling , transporting , grading , financing market risk and providing marketing information . Any organizational unit , institution or agency that perform one or more of the marketing functions is a member of the channel of distribution .

The structure of a distribution channel is determined by the marketing functions performed by the concerned organization . Some organizations perform only a single marketing function . For example   ;  Carriers may only transport products and public warehouses may only sto…

Waterways Requirements :-

The transport of containers on inland waterways vessels imposes few, if any , spacial requirements on the waterways network beyond those that apply to the transport of bulk or non-utilized general cargo . Thus the investment requirements mentioned in this context refer rather to minimum standards ensuring permanent navigability for certain size and types of vessel , regardless to the cargo carried .

Thus use of natural waterways for transport requires first the removal of obstacles which in developing countries consist mainly of seasonal variations in the water courses . Winding roots with sharp curves , instability of river beds , draught restrictions and natural rapids and waterfalls .

Apart from general conditions of navigability the minimum requirements to be fulfilled to accommodate vessels normally plying in container trades concern the minimum depth of waterways , the minimum width of waterways , the minimum vertical clearance of bridges . The minimum …

Letter of Indemnity :-

In order to get a "clean " bill of lading , the shipper may often try to persuade the carrier or his agents not to make any reservation on the bill of lading , which he would have otherwise made and accept , instead a letter of indemnity . Such letter of indemnity would seek to indemnify the carrier against all consequences arising out of the issue of a "clean" bill of lading . But such a letter of indemnity would not be valid in law and on the other hand is considered to be fraudulent . It would not be accepted by courts and the carrier will have no legal right to proceed against the shipper .

 An indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnitor (A) may or may not be responsible for the loss suffered by the indemnitee (B). Forms of indemnity include cash payments, repairs, replacement, and reinstatement.


Indemnity insurance compensates the beneficiaries of the policies for their act…

Early attempts by customs co- operations council to make a systematic approach to harmonization of customs procedures were swamped by the large number of proposals and requests received member states and from other international organizations seeking solutions to isolated but urgent customs problem . The council gradually recognized the need for an international instrument which would have a broad scope and which would provide countries with a comprehensive coherent guide for use in the simplification and harmonization of their customs legislation . The draft convention aroused the interest both of members and non members state , as well as other international organizations and specialized agencies of United Nations . UNCTAD , for example  , participated in the work both in its own right and on behalf of developing countries which were not member of the council , International organization such as  ICAO , IMCO , and the  ICC  took an active part in the work .

The International Convent…