Freight, shipping and chartering glossary

Issued by an insurance company or broker. The document confirms the existence of an insurance policy and summarizes the main aspects and conditions of the policy.

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.

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

Freight payable by the consignee at the port of destination.

Transportation of goods by at least two different modes of transport; widely used in container shipping. When using it, transportation can be carried out by sea and further by rail and/or road according to one document. Combined Transport is also referred to in the USA as "Intermodal Transport" and in other parts of the world as "Multimodal Transport"

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

A group of vessel operators joined for the purpose of establishing freight rates.

This surcharge is dependent on unusual events, e.g. strikes, bad winter, major port fires.

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

The location where consolidation takes place.

A bill of lading issued by a consolidating freight forwarder to a shipper.

Devices for transporting containers for ship or other operations.

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.

The charge made for the packing or unpacking of cargo into or from ocean freight containers.

A carrier-designated facility at which LCL cargo is received from consignors for consolidation and loading into containers or at which LCL cargo is unloaded from containers and delivered to consignees.

An identifier assigned to a container by a carrier.

An oceangoing vessel designed specifically to easily handle the loading, stowage, and off-loading of ocean freight containers.

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.

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

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

An umbrella term for several sorts of trade in which the seller is required to accept goods or other instruments or trade, in partial or whole payment for its products.

Special duties imposed on imports to offset the benefits of subsidies to producers or exporters in the exporting country.

The carrying capacity of a container according to measurement in cubic feet, cubic centimeters or cubic meters.

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.

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 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 procedure provided for by the customs legislation of the country related to the import/export of goods and vehicles. Customs clearance includes: a) customs clearance, b) payment of customs duties, c) all types of administrative actions related to the legalization of cargo.

Duties on exports from China

Duty on imports to the US may apply

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.

(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.

The seller arranges the delivery to the indicated place and includes it in the goods price. As a rule, such a place is a terminal where an ocean carrier (shipping line) can accept cargo for further transportation.

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.

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.

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.

Payment for the weight of the item. The chargeable weight may be the dimensional weight or, for container shipments, the gross weight of the shipment less the tare weight of the container.

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

Freight payable by the consignee at the port of destination.

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.

A group of vessel operators joined for the purpose of establishing freight rates.

This surcharge is dependent on unusual events, e.g. strikes, bad winter, major port fires.

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

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.

A storage area, other than a container yard, where shippers and consignees may pick up or drop off empty containers.