Freight, shipping and chartering glossary

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.

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

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

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.

Freight sent under a single contract of carriage.

Collection and storage of small consignments from several consignors for their subsequent transportation by one transport 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.

Disinfection allowance (fumigation).

Document showing contents and loading sequence of a container.

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

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

Cargo that is prohibited.

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.

The same as CFR, 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.

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

When a shipping container has been filled by volume but has not reached its maximum weight limit.

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

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.

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

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

The notional value of the goods used for customs duties.

Goods that are transported by different types of vehicles.

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 document to advise customs of the shipment's details. This document confirms the owner or consignee of the cargo.

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.

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

Products; commercial products and services.

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

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

Freight sent under a single contract of carriage.

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

Devices for transporting containers for ship or other operations.

Disinfection allowance (fumigation).

Cargo that is prohibited.

Contract on the legal obligations of the carrier and the client.

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.

When a shipping container has been filled by volume but has not reached its maximum weight limit.

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.