Freight, shipping and chartering glossary

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

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

Freight sent under a single contract of carriage.

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

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

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

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

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

Products; commercial products and services.

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

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"

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

Freight payable by the consignee at the port of destination.

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

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

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

The tariff applied for chartering tonnage in a particular trade.

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

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 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.

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

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

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

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.

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

Goods that are transported by different types of vehicles.

(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.

Navigation of a commercial cargo or passenger ship between seaports of the same state.

Payment charged by customs when importing or exporting goods.

Duty on imports to the US may apply

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.

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.

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

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.

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.

Cargo that is prohibited.

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