An HS or HTS code stands for Harmonized System or Harmonized Tariff Schedule. Developed by the World Customs Organization (WCO), the codes are used to classify and define internationally traded goods. In most cases, in order to import or export a product internationally, the traded good must be assigned an HTS code that corresponds with the Harmonized Tariff Schedule of the country of import¹.

The difference between an HS code and HTS code is the number of digits within the code. A code with six digits is a universal standard (HS Code) and a code with 7-10 digits (HTS Code) is often unique after the 6th digit and determined by individual countries of import.

These codes are important because they not only determine the tariff/duty rate of the traded product, but they also keep a record of international trade statistics that are used in nearly 200 countries. For example, the United States Census uses these codes to determine the value, quantities, weights, countries traded with, and more, of every product that the United States imports and exports.

1. In rare cases an item may need a clarification or ruling from the customs to properly assign it the correct HS/HTS code, due to an ambiguity. In US, Customs Ruling are available online at https://rulings.cbp.gov/home

Third-party logistics (abbreviated as 3PL, or TPL) in logistics and supply chain management is an organization’s use of third-party businesses to outsource elements of its distribution, warehousing, and fulfillment services.

Third-party logistics providers typically specialize in integrated operations of warehousing and transportation services that can be scaled and customized to customers’ needs, based on market conditions, to meet the demands and delivery service requirements for their products.

Often, services exceed logistics to include value-added services related to the production or procurement of goods, such as services that integrate parts of the supply chain.

A provider of such integrated services is referenced as a third-party supply chain management provider (3PSCM), or as a supply chain management service provider (SCMSP). 3PL targets particular functions within supply management, such as warehousing, transportation, or raw material provision.

Source en.wikipedia.org  PDF 159KB

An ocean transportation intermediary (OTI) is a company that is licensed by the Federal Maritime Commission (FMC) to operate in the United States as an ocean freight forwarder, non-vessel operating common carrier (NVOCC), or both.

What is an OTI Bond?

OTI bonds are required by the Federal Maritime Commission (FMC) from all ocean freight forwarders (OFFs) and non-vessel-operating common carriers (NVOCCs) who wish to become licensed as ocean transportation intermediaries (OTI) and operate in the United States.

The cost of your OTI bond depends on its bonding amount– whether it’s a $50,000, $75,000, $96,000, or $150,000 bond. When determining the rate or surety premium of a bond, sureties base it on the total bonding amount and make it a percentage thereof.

To determine your rate, sureties look at your personal credit score first and foremost, and at other financial and business-related items, such as your financial statements or industry experience.

If you have a high credit score and a solid business history you can expect to receive a standard market rate: from 1%-5% of the total amount of your bond. If your credit score isn’t that high, the surety will typically offer a rate that’s between 5%-10% of the bonding amount.

So, to obtain a NVOCC bond at standard rates for a licensed U.S. entity you would have to pay between $750 and $3,750.

EuroAirport is one of the few airports in the world operated jointly by two countries, in this case France and Switzerland. It is governed by a 1949 international convention. The headquarters of the airport’s operations are located in Blotzheim, France. The airport is located completely on French soil; however, it has a Swiss customs area connected to Basel by a 2.5 km (1.6 mi) long customs road, thus allowing air travelers access into Switzerland bypassing French customs clearance. The airport is operated via a state treaty established in 1946 wherein the two countries (Switzerland and France) are granted access to the airport without any customs or other border restrictions. The airport’s board has 8 members each from France and Switzerland and two advisers from Germany.

This airport has three different IATA airport codes: BSL (Basel) is the Swiss code, MLH (Mulhouse) is the French code and EAP (EuroAirport) is the neutral code.

And It could possibly have four, if Germany had wanted to assign it of their own too. Normally all airports are assigned a single IATA airport code.

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