Freight, shipping and chartering glossary

A system of measures aimed at full or partial compensation of losses from certain risks (consequences of natural disasters and accidents, loss of wealth and disability, etc.) by transferring their consequences from one party (insured) to another (insurer) for a certain fee.

A document is specially issued in addition to the insurance policy for customer information as a sign that the contractor has implemented all types of insurance provided for by the terms of the contract.

The use of more than one mode of transport for the transport of goods.

A document certifying the actual delivery of goods and/or the provision of services and their value.

This cost covers lodging in compliance with CBP’s (US Customs and Border Protection) ’10+2′ advance cargo reporting requirements.

The International Ship and Port Facility Code adopted by an IMO Diplomatic Conference in December 2002. Measure is designed to strengthen maritime security. (ISPS Code - Chapter XI-2 of SOLAS).

The carrier who issues the bill of lading and with whom the contract of carriage is concluded.