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Block Space Agreement What Is

As a professional, I was asked to write an article on “block space agreement what is.” After doing some research, here`s what I found:

A block space agreement (BSA) is a type of contract between a shipping company and a freight forwarder. It specifies the amount of space that the shipping company will provide to the freight forwarder on a regular basis, and at what price.

BSAs are commonly used in the shipping industry to ensure that freight forwarders have access to the space they need for their customers` shipments. By signing a BSA, a freight forwarder can secure a certain amount of space on a ship, even during peak shipping season when space can be scarce.

BSAs typically cover a certain period of time, such as six months or a year. During that time, the shipping company agrees to provide the agreed-upon amount of space to the freight forwarder at the agreed-upon price. This can help both parties plan ahead and avoid the uncertainty that can come with trying to secure space on a first-come, first-served basis.

BSAs can also provide benefits to the shipping company, such as guaranteed revenue and a more predictable shipping schedule. For freight forwarders, having a BSA in place can help them offer better rates and more reliable service to their customers.

In conclusion, a block space agreement is a contract between a shipping company and a freight forwarder that guarantees a certain amount of space on a ship at an agreed-upon price. BSAs can provide benefits to both parties and help them plan ahead and avoid uncertainty in the shipping process.

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