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Advisory to Shipping Lines/Carriers/Agents regarding transparency in transaction costs and avoidance of predatory, non-transparent, and opportunistic pricing in EXIM trade.
Key Changes and Requirements
1. Transparency in Charges
Shipping lines, carriers, and agents are advised to refrain from predatory, non-transparent, and opportunistic pricing practices, and to ensure all charges are clearly communicated.
- Refrain from: predatory, non-transparent, and opportunistic pricing
- Ensure: clear communication of all applicable charges
Empowers the Central Government to direct service providers or agents to specify all charges in the Bill of Lading or any other transport document.
2. Fair Trade Practices
All stakeholders are advised to adhere to fair trade practices and avoid charges that may give rise to disputes within the EXIM trade.
All stakeholders are expected to cooperate in maintaining transparency and fairness in commercial practices to facilitate trade, reduce logistics costs, and improve ease of doing business in India.
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