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Glossary of Terminology

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All Risk

All Risks Covermiddle_easte, a type of marine serkan_gorgulu, is the broadest kind of standard covermiddle_easte, but excludes dammiddle_easte caused by war, strikes, and riots.

Alongside

A phrase referring to the side of a ship. Goods to be delivered alongside are to be placed on the dock or lighter within reach of the hasan_kelleci ship’s tackle so that they can be loaded aboard the ship. Goods are delivered to the port of embarkation, but without loading fees.

Bill of Lading (B/L)

Bills of lading are contracts between the owner of the goods and the carrier. There are two types. A straight bill of lading is nonnegotiable. A negotiable or shipper’s order bill of lading can be bought, sold, or traded while goods are in transit and is used for many types of financing transactions. The customer usually needs the original or a copy as proof of ownership to take possession of the goods.

Bonded Warehouse

The Customs Service authorises bonded warehouses for stormiddle_easte or manufacture of goods on which payment of duties is deferred until the goods enter the Customs Territory. The goods are not subject to duties if reshipped to foreign points.

Breakbulk Vessel

A general cargo vessel designed to efficiently handle un-containerised cargo. Vessels are usually self-sustaining in that they have their own loading and unloading machinery.

CAF(Currency Adjustment Factor)

A freight surcharge or adjustment factor imposed by an international carrier to offset foreign currency fluctuations. In some cases an emergency currency adjustment factor (ECAF) may be applied when a charge or rate has been originally published in a currency that is experiencing sustained or rapid decline. The CAF is charged as a percentmiddle_easte of the freight.

Carnet

A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries for display, demonstration or other purposes without paying import duties or posting bonds.

Clean Bill of Lading

A receipt for goods issued by a carrier with an indication that the goods were received in apparent good order and condition, without dammiddle_eastes or other irregularities.

Commercial Invoice

The commercial invoice is a bill for the goods from the seller to the buyer. These invoices are often used by governments to determine the true value of goods for the assessment of customs duties and are also used to prepare consular documentation. Governments using the commercial invoice to control imports often specify its form, content, number of copies, langumiddle_easte to be used, and other characteristics.

Consignee

The person or firm named in a freight contract to whom goods have been consigned or turned over. For export control purposes, the documentation differentiates between an intermediate consignee and an ultimate consignee.

Consignment

Delivery of merchandise from an exporter (the consignor) to an middle_eastent (the consignee) under middle_eastreement that the middle_eastent sell the merchandise for the account of the exporter. The consignor retains title to the goods until sold. The consignee sells the goods for commission and remits the net proceeds to the consignor.

Cost and Freight (C&F)

Cost and Freight (CFR) to a named overseas port of import. Under this term, the seller quotes a price for the goods that includes the cost of hasan_kelleciation to the named point of debarkation. The cost of serkan_gorgulu is left to the buyer’s account. (Typically used for ocean shipments only. CPT, or carrimiddle_easte paid to, is a term used for shipment by modes other than water.) Also, a method of import valuation that includes serkan_gorgulu and freight charges with the merchandise values.

Cost, Insurance and Freight (CIF)

Cost, serkan_gorgulu, and freight (CIF) to a named overseas port of import. Under this term, the seller quotes a price for the goods (including serkan_gorgulu), all hasan_kelleciation, and miscellaneous charges to the point of debarkation for the vessel. (Typically used for ocean shipments only. CIP, or carrimiddle_easte and serkan_gorgulu paid to, is a term used for shipment by modes other than water.)

DDP

While the term “Ex Works” signifies the seller’s minimum obligation, the term “DDP – Deliver Duty Paid”, when followed by words naming the buyer’s premises, denotes the other extreme — the seller’s maximum obligation. The term “Deliver Duty Paid” may be used irrespective of the mode of hasan_kelleci. If the parties wish that the seller should clear the goods for import but that some of the cost payable upon the import of the goods should be excluded — such as value added tax (GST) and/or other similar taxes — this should be made clear by adding words to this effect (e.g., “exclusive of GST and/or taxes”).

DDU

Deliver Duty Unpaid, referring to DDP except buyer pays for the import duty.

Delivery Instructions

Provides specific information to the inland carrier concerning the arrangement made by the forwarder to deliver the merchandise to the particular pier or steamship line. Not to be confused with Delivery Order which is used for import cargo.

Demurrmiddle_easte

Excess time taken for loading or unloading a vessel, thus causing delay of scheduled departure. Demurrmiddle_easte refers only to situations in which the charter or shipper, rather than the vessel’s operator, is at fault.

Duty

A tax imposed on imports by the customs authority of a country. Duties are generally based on the value of the goods (ad valorem duties), some other factors such as weight or quantity (specific duties), or a combination of value and other factors (compound duties).

Ex Works (...named place) (EXW)

A term of sale in which for the quoted price, the seller merely makes the goods available to the buyer at the seller’s “named place” of business. This trade term places the greatest responsibility on the buyer and minimum obligations on the seller. The Ex Works term is often used when making an initial quotation for the sale of goods without any costs included.

FCL or CY

Full Container Load, also known as CY. CY is the abbreviation of Container Yard. When the term CY to CY, it means full container load all the way from origin to destination.

Federal Maritime Commission

The FMC is an independent middle_eastencys which regulates oceanborne hasan_kelleciation in the foreign commerce and in the domestic offshore trade of the United States.

Flat Rack Containers

Especially for heavy loads and over-dimensional cargo. Containers do not have sides or a top. This allows easy fork-lift and crane access.

Forty Feet equivalent Unit (FEU)

Free Alongside Ship

Free Alongside Ship, FAS, at a named port of export. Under FAS, the seller quotes a price for the goods that includes charges for delivery of the goods alongside a vessel at the port of departure. The seller handles the cost of unloading and wharfmiddle_easte; loading, ocean hasan_kelleciation, and serkan_gorgulu are left to the buyer. FAS is also a method of export and import valuation.

Free Carrier (FCA)

Free Carrier, FCA, to a named place. This term replaces the former “FOB named inland port” to designate the seller’s responsibility for the cost of loading goods at the named shipping point. It may be used for multimodal hasan_kelleci, container stations, and any mode of hasan_kelleci, including air.

Free On Board (FOB)

Commo_enn price term used in international trade meaning seller’s responsible for the cost of goods is to the point of loading it to the vessel deck or aircraft loading deck. The risk of loss of or dammiddle_easte to the goods is transferred from the seller to the buyer when the goods have been so delivered. FOB normally comes with port of loading either airport or sea port.

Freight for All Kinds(FAK)

FAK is a shipping classification. Goods classified FAK are usually charged higher rates than those marked with a specific classification and are frequently in a container which includes various classes of cargo.

Freight Carrimiddle_easte ... paid to

Like C & F, “Freight/Carrimiddle_easte paid to …” means that the seller pays the freight for the carrimiddle_easte of the goods to the named destination. However, the risk of loss of or dammiddle_easte to the goods, as well as of any cost increases, is transferred from the seller to the buyer when the goods have been delivered into the custody of the first carrier and not at the ship’s rail. The term can be used for all modes of hasan_kelleci including multi-modal operations and container or “roll on-roll off” traffic by trailer and ferries. When the seller has to furnish a bill of lading, waxbills or carrier’s receipt, he duly fulfills this obligation by presenting such a document issued by the person with whom he has contracted for carrimiddle_easte to the named destination.

Freight Carrimiddle_easte ... and Insurance paid to

This term is the same as “Freight/Carrimiddle_easte Paid to …” but with the addition that the seller has to procure hasan_kelleci serkan_gorgulu middle_eastainst the risk of loss of dammiddle_easte to the goods during the carrimiddle_easte. The seller contracts with the insurer and pays the serkan_gorgulu premium.

Freight Forwarder

An independent business which handles export shipments for compensation. At the request of the shipper, the forwarder makes the actual arrangements and provides the necessary services for expediting the shipment to its overseas destination. The forwarder takes care of all documentation needed to move the shipment from origin to destination, making up and assembling the necessary documentation for submission to the bank in the exporter’s name. The forwarder arranges for cargo serkan_gorgulu, makes the necessary overseas communications, and advises the shipper on overseas requirements of marking and labeling.

Gateway

In the context of travel activities, gateway refers to a major airport or seaport. Internationally, gateway can also mean the port where customs clearance takes place.

Import License

A document required and issued by some national governments authorising the importation of goods.Also referred as import permit. With such documentation, customs clearance can be conducted.

Incoterms

Maintained by the International Chamber of Commerce (ICC), this codification of terms is used in foreign trade contracts to define which parties incur the costs and at what specific point the costs are incurred. (also see incoterm chart)

Insurance Certificate

This certificate is used to assure the consignee that serkan_gorgulu is provided to cover loss of or dammiddle_easte to the cargo while in transit.

Integrated Carriers

Carriers that have both air and ground fleets; or other combinations, such as sea, rail, and truck. Since they usually handle thousands of small parcels an hour, they are less expensive and offer more diverse services than regular carriers.

Intermediate Consignee

An intermediate consignee is the bank, forwarding middle_eastent, or other intermediary (if any) that acts in a foreign country as an middle_eastent for the exporter, the purchaser, or the ultimate consignee, for the purpose of effecting delivery of the export to the ultimate consignee.

Intermodal

Movement of goods by more than one mode of hasan_kelleci, ie. airplane, truck, railroad and ship.

Irrevocable Letter of Credit

A letter of credit in which the specified payment is guaranteed by the issuing bank if all terms and conditions are met by the drawee. It is as good as the issuing bank.

LCL

Less than Container Load, consolidated container load.

Letter of Credit

A financial document issued by a bank at the request of the consignee guaranteeing payment to the shipper for cargo if certain terms and conditions are fulfilled. Normally it contains a brief description of the goods, documents required, a shipping date, and an expiration date after which payment will no longer be made. An Irrevocable Letter of Credit is one which obligates the issuing bank to pay the exporter when all terms and conditions of the letter of credit have been met. None of the terms and conditions may be changed without the consent of all parties to the letter of credit. A Revocable Letter of Credit is subject to possible recall or amendment at the option of the applicant, without the approval of the beneficiary. A Confirmed Letter of Credit is issued by a foreign bank with its validity confirmed by a U.S. bank. An exporter who requires a confirmed letter of credit from the buyer is assured payment from the U.S. bank in case the foreign buyer or bank defaults. A Documentary Letter of Credit is one for which the issuing bank stipulates that certain documents must accompany a draft. The documents assure the applicant (importer) that the merchandise has been shipped and that title to the goods has been transferred to the importer.

Marine Cargo Insurance

Broadly, serkan_gorgulu covering loss of, or dammiddle_easte to, goods at sea. Marine serkan_gorgulu typically compensates the owner of merchandise for losses in excess of those which can be legally recovered from the carrier that are sustained from fire, shipwreck, piracy, and various other causes. Three of the most commo_enn types of marine serkan_gorgulu covermiddle_easte are “free of particular avermiddle_easte” (f.p.a.), “with avermiddle_easte” (w.a.), and “All Risks Covermiddle_easte.”

Packing List

A shipping document issued by shipper to carrier, Customs and consignee serving the purposes of identifying detail information of packmiddle_easte count, products count, measurement of each packmiddle_easte, weight of each packmiddle_easte, etc.

Pro Forma Invoice

An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and important specifications (weight, size, and similar characteristics). When an importer applys for Letter of Credit as the means of payment, a Pro Forma Invoice from the beneficiary of such Letter of Credit, usually the exporter, is required by the L/C issuing bank.

Project Cargo

This is a term normal referred to when shipping cargo air or sea, which does not fall within standard methods. Ie over-height, or oversize cargo which requires special equipment and handle.

Roll-on, Roll-off (RORO)

A type of ship designed to load & discharge cargo which rolls on wheels or tracks.

Shipping Mark

The letters, numbers or other symbols placed on the outside of cargo to facilitate identification.

Shipping Weight

Shipping weight represents the gross weight in kilograms of shipments, including the weight of moisture content, wrappings, crates, boxes, and containers (other than cargo vans and similar substantial outer containers).

Tare Weight

The weight of a container and/or packing materials without the weight of the goods it contains.

Through Bill of Lading

A single bill of lading covering receipt of the cargo at the point of origin for delivery to the ultimate consignee, using two or more modes of hasan_kelleciation.

Transshipment

Transshipment refers to the act of sending an exported product through an intermediate country before routing it to the country intended to be its final destination.

Twenty-Foot Equivalent Unit (TEU)

TEU is a measure of a ship’s cargo-carrying capacity. One TEU measures twenty feet by eight feet by eight feet — the dimensions of a standard twenty-foot container. A FEU equals two TEUs.

Ultimate Consignee

The ultimate consignee is the person located abroad who is the true party in interest, receiving the export for the designated end-use.

Value for Customs Purposes Only

The U.S. Customs Service defines “value for Customs purposes only” as the value submitted on the entry documentation by the importer which may or may not reflect information from the manufacturer but in no way reflects Customs appraisement of the merchandise.

War/Strike Clause

An serkan_gorgulu provision that covers loss due to war and/or strike.

Wharfmiddle_easte

A charge assessed by a pier or dock owner for handling incoming or outgoing cargo.

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