Freight, shipping and chartering glossary

The document containing the calculation of the amount of security and confirming the introduction of security for customs payments in the form of a bank guarantee, pledge agreement or guarantee.

A government agency providing the procedure for moving goods and vehicles, things, and other items across the customs border, levying customs payments.

A legal entity that has received a license to perform intermediary functions in the field of customs clearance of goods at the expense and on behalf of the represented person.

The document that provides US Customs and Border Protection (CBP) with details of your shipment, such as cost, classification, and origin.

Payment charged by customs when importing or exporting goods.

The notional value of the goods used for customs duties.

A freight carrier‘s right to hold on to cargo until they have received payment for transporting the goods.

Customs form permitting in-bond cargo to be moved from one location to another under Customs control, within the same Customs district.

Сertificate submitted by an exporter to those countries requiring it, listing goods to be imported and stating their place of origin. Used for customs and foreign exchange purposes.

A person or organization that rents a ship for the transportation of cargo or passengers from its owner.

All documents (commercial invoices, bills of lading, etc.) submitted to a buyer for the purpose of receiving payment for a shipment.

An ocean carrier who is a member of an association known as a "conference." The purpose of the conference is to standardize shipping practices, eliminate freight rate competition, and provide regularly scheduled service between specific ports.

This is a fee for bringing together and packing several smaller shipments into the same container., applicable to ocean freight LCL and air freight.

Registration of all formalities and operations necessary to obtain permission to unload the container from the vessel and to load it on board the vessel.

A place for handling/storage of materials used for fully unified cargo in containers and/or empty containers.

An enterprise that uses the services as provided by another enterprise.

Duties on exports from China

(1) A secure enclosed area for storing highly valuable items, (2) a pallet-sized platform with sides that can be secured to the tines of a forklift and in which a person may ride to inventory items stored well above the warehouse floor.

Same as CPT but insurance is added for seller’s account on a definite part of the route. The shipping section covered by insurance can be any.

A person who, under a contract of carriage, performs or mediates in the delivery of goods using a vehicle.

Settlement form, in which the exporter receives payment after submission of shipping documents to the bank or the importer receives documents for the goods after payment.

A network of agencies and other intermediaries that link the manufacturer and the end-user.

Freight payable by the consignee at the port of destination.

Products; commercial products and services.

A natural or legal person to whom, at the direction of the shipper, the goods should be delivered at the destination.

The location where consolidation takes place.

Devices for transporting containers for ship or other operations.

The practice or technique of using a boxlike device in which a number of packages are stored, protected, and handled as a single unit in transit.

Supplier has organized land delivery, completed port formalities, performed loading on ship’s board, and paid freight charges to the port (airport) of destination.

The bond protects the US government should an importer not pay any duties, penalties, etc. either while the goods are in CBP custody or after release.

A person who, under a contract of carriage, performs or mediates in the delivery of goods using a vehicle.

A freight carrier‘s right to hold on to cargo until they have received payment for transporting the goods.

A group of countries producing the same product and having concluded an agreement between themselves to control the supply volume and price level of this product.

Settlement form, in which the exporter receives payment after submission of shipping documents to the bank or the importer receives documents for the goods after payment.

A method of payment for goods, in which something is sold on a cash with order basis, payment must be sent along with the order, before the goods are sent out, and the transaction becomes binding on both buyer and seller.

A network of agencies and other intermediaries that link the manufacturer and the end-user.

Contract by which the owner of a ship lets it to others for use in transporting cargo.

The tariff applied for chartering tonnage in a particular trade.

Fee charged by ocean carriers at certain U.S. ports for the use of their chassis.

A document stating that a shipment is free to be imported into the country after all legal requirements have been met.

Document claiming payment for goods supplied under conditions agreed between seller and buyer.

A code describing a commodity or a group of commodities pertaining to goods classification. This code can be carrier tariff or regulating in nature.

Freight that might have been damaged during transit, but, the damage/loss/shortage was not notated on the Proof of Delivery.

An ocean carrier who is a member of an association known as a "conference." The purpose of the conference is to standardize shipping practices, eliminate freight rate competition, and provide regularly scheduled service between specific ports.

A natural or legal person to whom, at the direction of the shipper, the goods should be delivered at the destination.

A natural or legal person who delivered the goods for carriage and is indicated as the sender in the carriage document.

This is a fee for bringing together and packing several smaller shipments into the same container., applicable to ocean freight LCL and air freight.

An agent groups the cargo of several customers for container transportation.

A single rigid, sealed, reusable metal box in which merchandise is shipped by vessel, truck, or rail.

Registration of all formalities and operations necessary to obtain permission to unload the container from the vessel and to load it on board the vessel.