DEQ  Delivered Ex Quay (named port of destination) - IncotermsSimilar to DES but the seller must also arrange discharge onto the quay or wharf. Goods to be delivered ‘alongside”. To avoid confusion, take a look at these ocean freight abbreviations to ensure you’re clear on their meaning on your next shipping quote, invoice, or conversation. An example of this is freight that is transported via water from the West Coast to the East Coast of the United States and then by truck or rail to Ohio. SCS: Suez Canal Surcharge – Compensates shipping companies for additional costs incurred during transit through the Suez Canal. Shipping Information. IPI: Inland Point Intermodal – These shipments move inland from a port via truck or rail to a non-port destination. ApplicantThe buyer who has requested his bank to arrange an L/C on his behalf. BUC: Bunker Charge – An extra charge that is sometimes added to steamship freight rates to cover higher fuel costs (see also BAF and FAF). I.e. In most cases, the freight forwarder will assume the legal liabilities of acting as a carrier. (see also Bill of Exchange, Cash Against Documents and URC522). Incoterms - a.k.a. Being based on FCA, this term may be used for any mode of transport. CertificateA general term for any document issued by the seller or another party, certifying to some action has taken place or some fact about the goods. Conventional shipThe ship designed with holds which can load almost any type of loose cargo, such as drums, sacks, crates, pallets etc. AWS: All Water Service – This is one of the most cost-effective and eco-friendly ways to ship your cargo. < -- Back to international shipping terms. The seller has to bear the risks and all costs, including duties, taxes and other charges of delivering the goods thereto, cleared for importation. An agreement made by an ocean carrier to provide cargo space on a vessel at a specified time and for a specified price to accommodate an exporter or importer. Certificate of OriginA certificate stating the country of origin of the goods. FCLFull Container Load, generally but not always indicating that goods in the container are from one seller who packed the container, going to one buyer who will unpack the container. Afloat: The condition of a vessel which is floating freely (not aground or sunk). BoxColloquial term for a shipping container. Weather-How does it impact your shipments? Break-bulk Cargo . ISF: Importer Security Filing – A US Customs and Border Protection (CBP) regulation requiring importers and vessel carriers to provide data electronically to CBP for in-bound ocean shipments. The risk of the loss of or damage to the goods, as well as any additional costs as a result of events after the goods are delivered onboard the vessel, transfers from the seller to the buyer when the goods pass the ship's railing in the shipping port. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. Signed by the carrier, whether a shipping line or a freight forwarder, it serves as a receipt to the consignor for the goods, as evidence of the contract of transport containing the conditions of transport, and as a document of title by which possession of the goods can be transferred. Delivery is to the ship at the port origin or it is to the consignee at the destination port. Although the seller agrees to pay all costs and freight to the port of destination, his responsibility for delivery ends when the goods have been delivered on board the overseas vessel at the port of shipment. 1.1 Please carefully read these Terms as they govern the contractual relationship between the Customer and CEVA, unless and to the extent prevailing valid contractual arrangements are in force between the Customer and CEVA in respect of the relevant Shipment. You can learn more about Incoterms by going to this page on Export.gov. Duty DrawbackIf goods which have been imported, and upon which customs duty has been paid, are exported or have been used in the manufacture of goods which have been exported, then the exporter may be entitled to a refund of the original import duty paid. If this is shown to be injurious to locally-based suppliers in the foreign market, the government of that country may impose remedies by way of anti-dumping duties. Our Websites. The land between the two ports is the “land bridge.” MLB: Mini Land Bridge – IPI and MLB are used interchangeably on occasion. (See also Collections). Insurance CertificateA certificate issued by the insurance underwriter giving details of a particular transaction which is held insured under an insurance policy. How to Gain Control of Expedited Freight Costs, 5 Considerations When Selecting an Expedited Freight Method, Navigating the Driver Shortage ~ Simplified (Part 2), Navigating the Driver Shortage ~ Simplified (Part 1). Ullage. CSA...What is it and how is it determined? Knowing these terms can also have an impact on important shipping related decisions. Additional information including fuel surcharges, holiday schedules and information for processing your UPS Freight shipment. Common term for an ocean-going freight container. It covers crane lifts off the vessel as well as drayage of the container and gate fees at the terminal. This term very specifically requires the carriage of the goods in a "seagoing vessel". (See also Letter of Credit). This fee is payable to a shipping line for receiving a full container load, storing it, and delivering it. Value for DutyThe value of an import declared to the customs upon which customs duty will be calculated. The seller is responsible to clear the goods for export. They are trading vessels primarily used to carry heavy items, like fruit, fresh water, or merchandise. Shipping MarksSpecific markings on packages to identify them apart from other packages and to identify them on the relevant documents. This is probably the most commonly misused term in international trade. CPT  Carriage Paid To (named place of destination) - IncotermsThe seller must pay the costs and freight necessary to bring the goods to the named destination but the risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods have been delivered into the custody of the carrier. FAF: Fuel Adjustment Factor – Same as BAF. Reading a quote or invoice for ocean freight can be challenging if you don’t know all the acronyms. Contact us for assistance with your next shipment by phone at 866-553-6608 or by email at Info@ShipAG.com. Flag international ocean freight carriers by U.S. Department of Transportation are in, FCL: Full Container Load. What is a Forwarding Agent for International Freight? Cash Against Documents (CAD)An arrangement whereby the buyer pays for goods as soon as the buyer receives the seller's documents. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. The issuer will require the holder to give them security by way of a bank guarantee. What is the Difference Between LTL & FTL? FAKFreight All Kinds, as a general description of the goods on a master B/L, covered under the one freight rate regardless of the nature of the individual goods. Abbreviations they use include EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid To), CIP (Carriage and Insurance Paid To), and more. Commercial Freight Only, FCL: Containers with Household Goods (no cars), Shipping Household Goods – General Information, Importing Goods to the USA / U.S. Customs Broker. A small misunderstanding with the shipping terms could lead to disputes over who was meant to pay for the overseas freight, insurance or other costs involved in the shipment of goods. Successful 3PL Selection and Relationships, Minimize the impact of DIM pricing on your budget, DIM Weight and how to minimize its impact, Weight and Research Inspections What they are and… how to reduce their impact on shipping costs, NMFC changes effective 4/18/15 - Concealed Damage window reduced to 5 days. Shipping freight LCL Vs. other modes of transportation, Sea ports and Container Freight Stations (CFS), http://www.iccwbo.org/incoterms/id3040/index.html. Typically a B/L is issued in a set of three signed originals or negotiables, one of which must be presented to claim the goods upon which the others become void. DAF  Delivered at Frontier (named place) - IncotermsThe seller must pay the costs and freight to bring the goods to a land frontier, but before the customs border of the adjoining country. Can also refer to goods being transferred from one method of transport to another. It also shows the details of the consignee so that they can be contacted on arrival of the goods. EXW ( Ex Works ) – The supplier of the goods agrees to make the goods available at his “factory gate / warehouse doors”, it is then the buyers responsibility to arrange all transportation and insurance.Very common shipping term when buying from USA and Canada. In some countries where the buyer may have trouble arranging an import license, the applicant may be a third party acting on behalf of the buyer. Bank GuaranteeA document issued by a bank acting as a guarantor for their customer. AgentAn independent person or corporation acting as a representative, usually in a foreign market, who attempts to sell products for an overseas seller (principal) and earns a commission on successful sales. Usually based on the value of the goods (ad valorem), on the physical nature of the goods such as quantity or weight, or on a combination of the value and other factors. Notify PartyThe person or company to be advised by the carrier upon arrival of the goods at the destination port. This term should not be used if the seller is unable directly or indirectly to obtain any necessary import license or approval. BeneficiaryThe seller in whose favor an L/C is issued, ie the person who will "benefit" from the L/C. GAS: Gulf of Aden Surcharge – Compensates shipping lines for additional costs incurred due to transit through the Gulf of Aden. Ocean Freight: OF (the money due for the carriage of goods) Bunker: BUC (cost for the fuel used by the vessel during the voyage) Arbitrary: Charge to cover the cost of a feeder vessel to get the container to the main port; Seasonal Charges: Peak Season Surcharge: PSS; Winter Surcharge: For example, it is applicable during winter season to ports in Russia They help prevent misunderstandings between traders and reduce trade disputes. Hours of Service and the 34-hour restart: What’s the big deal? This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. Alongside: A phrase referring to the side of a ship. ConsolidationWhere a freight forwarder groups, or consolidates, one or more shipments for one or more shippers to the one destination as one overall shipment. It will be combined with other LCL cargo from other shippers going to the same destination port, into a FAK FCL. Expedited Freight Shipping Methods to Consider, 6 Factors Influencing Ocean Freight Rates, Air vs Ocean – 6 Factors to Consider When Shipping Internationally, American Group's 2017 National Carrier of the Year is UPS Freight. (See also House B/L and Master B/L). It can be helpful to understand what these are when importing and exporting. This is a term more generally used to describe vessels in service e.g. Exchange RateThe price of one currency in terms of another. A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | | W | Y | Z. How to Get a Job in Transportation or Logistics. Need not always be the buyer, and in some countries will be the buyer's bank. It is issued by the carrier, whether an airline or a freight forwarder, as a non-negotiable document serving as a receipt to the consignor for the goods, and containing the conditions of transport. TenorThe period of time before a bill of exchange falls due for payment. All Risk: A type of Marine Insurance, which is the widest coverage. This term very specifically requires the carriage of the goods in a "seagoing vessel". An individual, partnership or corporation which arranges transportation service for client companies. CIP  Cost and Insurance Paid to (named place of destination) - IncotermsThis term is similar to CPT but with the addition that the seller has to procure marine insurance against the buyer's risk of loss of or damage to the goods covering that period until the goods have been delivered from the carrier to the buyer.

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