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"TT prior to shipment" refers to a payment term where the buyer is required to make a telegraphic transfer (TT) of funds to the seller before the shipment of goods occurs. This means that the seller expects to receive full payment in advance, ensuring that they have been compensated before the products are dispatched. This term is commonly used in international trade to mitigate the risk of non-payment.

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1mo ago

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What does PrePay and Add mean in Freight Terms?

In freight terms, "PrePay" refers to the arrangement where the shipper pays for transportation costs before the shipment is dispatched. This typically ensures that the carrier is compensated upfront, reducing the risk of payment issues. "Add" generally means additional charges or fees that may be applied to the base shipping cost, such as for fuel surcharges or handling fees. Together, these terms help clarify the financial responsibilities involved in the shipping process.


What does TTO mean in shipment terms?

In shipment terms, TTO stands for "Tactical Turnaround Operations." It refers to the processes and strategies employed to efficiently manage and expedite the turnaround of shipments, particularly in logistics and supply chain management. TTO focuses on minimizing delays and optimizing the flow of goods from one point to another, ensuring timely deliveries and improved operational efficiency.


What do 3ND2 payment terms mean?

Ah, payment terms can sometimes be like happy little trees in the world of business. "3ND2" stands for "3% discount if paid within 2 days." It's a way for businesses to encourage prompt payment and build positive relationships with their customers. Just like adding a touch of titanium white to your painting, these payment terms can bring a sense of balance and harmony to your financial transactions.


The sum of of terms divided by the number of terms?

The mean, or the average.


Posterior and prior probability what do they mean?

prioirandposterior dist