Freight, shipping and chartering glossary

The notional value of the goods used for customs duties.

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

Payment charged by customs when importing or exporting goods.

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

Duty on imports to the US may apply

Duties on exports from China

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.

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

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.

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

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

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

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

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.

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.

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

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.

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

Cargo that is prohibited.

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.

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

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

An area intended for storing goods in containers, usually delivered by road, rail, and sea, where containers are picked up, dropped off, maintained and housed.

Document showing contents and loading sequence of a container.

An identifier assigned to a container by a carrier.

Disinfection allowance (fumigation).

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.

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

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

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.

Devices for transporting containers for ship or other operations.

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

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

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

The location where consolidation takes place.

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

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

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

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.

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 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.

The buyer pays the seller in advance the shipment of goods.

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.

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

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.

(1) Movement of goods locally (short distances). (2) Сharge for pick-up and delivery of goods.

(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.

A document allowing special categories of goods to cross international borders without paying duties. This document is issued by customs.