A
ABI-AUTOMATED BROKER INTERFACE

Refers to a system available to brokers with the computer capabilities and customs certification to transmit and exchange customs entries and other information, facilitating prompt release of imported cargo.

AD HOC CHARTER

A one-off charter operated at the whim of airline or charterer.

AD VALOREM

Latin, "according to the value."

 

1. An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume. A percentage of that value is charged, for example 5% ad valorem.
2. A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate. (See Ad Valorem duty)

ADVANCE AGAINST DOCUMENTS

A loan made on the security of the documents covering a shipment.

ADVISING BANK

A bank operating in the exporter's country that handles letters of credit for a foreign bank by notifying the exporter that the credit has been opened in his favor.

AGENCY AGREEMENT

In this agreement the steamship line appoints the steamship agent and defines the specific duties and areas of responsibility of that agent.

AIR CARGO AGENT

A type of freight forwarder who specializes in air cargo and acts for airlines.  He is registered with the International Air Transport Association (IATA)

AIR WAYBILL

A non-negotiable contract for carriage of air transportation between an air carrier and a shipper, or an air carrier and an air freight forwarder. In the latter case the forwarder, as an indirect air carrier, issues his own house air waybill to the shipper.

IATA

International Air Transport Association, IATA

ALL-RISK CLAUSE

An insurance provision that all loss or damage to goods is insured except that of inherent vice (self caused). (See All Risk Insurance).

"ALL RISK" INSURANCE

A clause included in marine insurance policies to cover loss and damage from external causes, such as fire, collision, pilferage, etc. but not against innate flaws in the goods, such as decay, germination, nor against faulty packaging or loss of market, nor against war, strikes, riots and civil commotions (See Marine Insurance).

ALONGSIDE

The side of the ship. Goods to be delivered alongside are to be placed on the dock or lighter within reach of the ship's tackle from which they can be loaded aboard the ship.

AUTOMATED BROKER INTERFACE (ABI)

An electronic system allowing customhouse brokers and importers to interface via computer with the US Customs Service for transmitting entry and entry summary data on imported merchandise.

B

BARTER

The direct exchange of goods and/or services without the use of money as a medium of exchange and without third-party involvement.

BELLY CARGO

Freight accommodation below the main deck.

BERMUDA AGREEMENT

An agreement concluded in 1946 between the U.K. and the U.S., designed to regulate future international air traffic. Most governments accept its principles and follow it inter alia by limiting traffic rights on international routes to one or two carriers.

BERTH

The place beside a pier, quay or wharf where a vessel can be loaded or discharged.

BERTH LINER SERVICE

Regular scheduled steamship line with regular published schedules (port of call ) from and to defined trade areas.

BERTH OR LINER TERMS

An expression covering assessment of ocean freight rates generally implying that loading and discharging expenses will be for ship owner's account, and usually apply from the end of ship's tackle in port of loading to the end of ship's tackle in port of discharge.

BILL OF LADING

A document, issued by a carrier to a shipper, that serves a threefold purpose;

 

1. A receipt for the goods delivered to the carrier for shipment;
2. A definition of the contract of carriage of the goods from the port of shipment to the port of destination listed in the bill of lading  
3. Evidence of title to the relative goods

B/L

Bill of Lading - A written document issued by a common carrier, acknowledging the receipt of the goods named and setting forth the terms of the contract of carriage. When in order form, it is negotiable.

BLOODSTOCK

Pedigree Livestock. Often race horses or cattle for breeding.

BONDED WAREHOUSE

A warehouse authorized by customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.

BOOKING

Arrangements with steamship companies for the acceptance and carriage of freight.

BREAKPOINT

Weight at which freight charges change eg 100 kilos.

BULK CARGO

Loose cargo that is loaded directly into a ship's hold.

BULK CARRIER

There are two types of bulk carrier, the dry-bulk carrier and the liquid-bulk carrier better known as a tanker. Bulk cargo is a shipment such as oil, grain, or ore which is not packaged, bundled, bottled, or otherwise packed and is loaded without counting or marking.

BULK SOLIDS

Dry cargo shipped in containers, loose, in bulk, without mark or count.

C

CAD

The acronym meaning "cash against documents," a method of payment for goods in which documents transferring title are given to the buyer upon payment of cash to an intermediary acting for the seller.

CARGO

Merchandise/commodities carried by means of transportation.

CARNET

A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries without paying duties or posting bonds.

CARRIER(S) CONTAINER(S)/SHIPPER(S) CONTAINER(S)

The term Carrier(s) Container(s) or Shipper(s) Container(s) means containers over which the carrier or the shipper has control either by ownership or by the acquisition thereof under lease or rental from container companies or container suppliers or from similar sources.

CARTEL

An association of several independent national or international business organizations that regulates competition by controlling the prices, the production, or the marketing of a product or an industry.

CERTIFICATE OF MANUFACTURE

A document used under a letter of credit, containing an affidavit that goods have been manufactured and are being held for the account and risk of the buyer. In war times, when transportation facilities are disrupted, it is common for letter of credits to be paid against presentation of a certificate of manufacture. This is rare in ordinary times, except in the case of specially manufactured goods.

CERTIFICATE OF ORIGIN

A document containing an affidavit to prove the origin of imported goods. It is used for customs or foreign exchange purposes or both. Certificates of origin are commonly certified by a chamber of commerce in the exporting country and frequently must be advised by a consul of the foreign country involved.

CFR

Cost and Freight(... named port of destination)

CFS (CONTAINER FREIGHT STATION)

The term CFS at loading port means the location designated by carriers for the receiving of cargo to be packed into containers by the carrier. At discharge ports, the term CFS means the bonded location designated by carriers in the port area for unpacking and delivery of cargo.

CFS/CFS (PIER TO PIER)

The term CFS/CFS means cargo delivered by break-bulk to Carrier's CFS to be packed by Carrier into containers and to be unpacked by Carrier from the container at Carrier's destination port CFS.

CFS/CY (PIER TO HOUSE)

The term CFS/CY means cargo delivered break-bulk to Carrier's CFS to be packed by Carrier into containers and accepted by consignee at Carrier's CY and unpacked by the consignee off Carrier's premises, all at consignee's risk and expense.

CFS CHARGE (CONTAINER FREIGHT CHARGE)

The term CFS Charge means the charge assessed for services performed at the loading or discharging port in packing or unpacking of cargo into/from containers at CFS.

CHARGEABLE WEIGHT

Chargeable weight is the greater of the two weight, namely the gross weight or the volumetric weight.

CHARTER

Originally meant a flight where a shipper contracted hire of an aircraft from an airline. Has usually come to mean any non-scheduled commercial service.

CHARTER PARTY

The contract between the owner of a ship and the individual or company chartering it. Among other specifications, the contract usually stipulates the exact obligations of the ship-owner (loading the goods, carrying the goods to a certain point, returning to the charterer with other goods, etc.); or it provides for an outright leasing of the vessel to the charterer, who then is responsible for his own loading and delivery. In either case, the charter party sets forth the exact conditions and requirements agreed upon by both sides.

CHASSIS

A wheel assemble including bogies constructed to accept mounting of containers.

CIF

Carriage and Insurance Paid to (... named port of destination)

CIP

Carriage and Insurance Paid to (... named place of destination)

 

CLASS RATES

A class of goods or commodities is a large grouping of various items under one general heading. All items in the group make up a class. The freight rates that apply to all items in the class are called class rates.

CLASSIFICATION

A customs term. The placement of an item under the correct number in the customs tariff for duty purposes. At times this procedure becomes highly complicated

CLAUSED BILL OF LADING

A bill of lading which has exemptions to the receipt of merchandise in "apparent good order" noted.

CLEAN BILL OF LADING

A bill of lading which covers goods received in "apparent good order and condition" and without qualification.

cm

Centimeters

COMBI

An aircraft with pallet or container capacity on its main deck as well as in its belly holds.

COMBINATION VESSELS

Container/Break-bulk vessel - this type of ship accommodates both container and break-bulk cargo. It can be either self sustaining or non-self sustaining.

COMMERCIAL INVOICE

An itemised list of goods shipped, usually included among an exporter's collection papers.

CONFERENCE

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

CONSIGNEE

The individual or company to whom a seller or shipper sends merchandise and who, upon presentation of necessary documents, is recognized as merchandise owner for the purpose of declaring and paying customs duties.

CONSORTIUM

The name for an agreement under which several nations or nationals (usually corporations) of more than one nation, join together for a common purpose. It could be for management or exploitation of a natural resource, as in the case of some international petroleum consortiums.

CONSULAR DOCUMENTS

Special forms signed by the consul of a country to which cargo is destined.

CONSULAR INVOICE

A document, required by some foreign countries, describing a shipment of goods and showing information such as the consignor, consignee, and value of the shipment. Certified by a consular official of the foreign country, it is used by the country's customs officials to verify the value, quantity and nature of the shipment.

CONTAINER

The term container means a single rigid, non-disposable dry cargo, insulated, temperature controlled flatrack, vehicle rack portable liquid tank, or open top container without wheels or bogies attached, having not less than 350 cubic feet capacity, having a closure or permanently hinged door that allows ready access to the cargo (closure or permanently hinged door not applicable to flatrack vehicle rack or portable liquid tank). All types of containers will have constructions, fittings and fastenings able to withstand without permanent distortion, all the stresses that may be applied in normal service use of continuous transportation. All containers must bear manufacturer's specifications (for more details on Container configurations, refer to the section on Container Configurations)

CONTAINER SHIP

Ocean going ship designed to carry containers both internally and on deck. Some are self sustaining.

CONTAINERIZATION

Concept for the ultimate unitizing of cargo used by both steamship lines and air cargo lines. Containers allow a greater amount of cargo protection from weather, damage, and theft.

CONTAINERS (AIR CARGO)

Many types of air cargo containers are offered: The containers are designed in various sizes and irregular shapes to conform to the inside dimensions of a specific aircraft (Refer to Container Configurations section for more details of Aircraft Containers)

CONTAINERS (OCEAN)

Designed to be moved inland on its own chassis and can be loaded at the shippers plant for shipment overseas. Basic types of containers are; dry van, open top, half high, hi cube, flat rock, tank container, refrigerated container, insulated container, tilting container. Average outside dimensions are generally 20, 35, and 40 feet in length, 8 feet wide and 8 feet high standard.

CPT

Carriage Paid to (...named place of destination)

CUSTOMS BONDED WAREHOUSE

A warehouse where imported goods may be stored for a total of three years without the payment of duty or taxes.

CUSTOMS BROKER

A service company that transacts customhouse formalities on behalf of an importer. In the United States, a customs broker must be licensed by the Treasury Department and pass a government examination covering a broad range of knowledge, including all phases of import regulations, rates of duties, customs law, etc.

CUSTOMS TARIFF

A schedule of charges assessed by the federal government on imported goods.

CY (CONTAINER YARD)

The term CY means the location designated by Carrier in the port terminal area for receiving, assembling, holding, storing and delivering containers, and where containers may be picked up by shippers or re-delivered by consignees. No container yard (CY) shall be a shipper's, consignee's, NVOCC's, or a forwarder's place of business, unless otherwise provided.

CY/CFS (HOUSE TO PIER)

The term CY/CFS means containers packed by shipper of carrier's premises and delivered by shipper to Carrier's CY, all at shipper's risk and expense and unpacked by Carrier at the destination port CFS.

CY/CY (HOUSE TO HOUSE)

The term CY/CY means containers packed by shipper off Carrier's premises and delivered by shipper to Carrier's CY and accepted by consignee a t Carrier's CY and unpacked by consignee off Carrier's premises, all at the risk and expense of cargo.

D

DAF

Delivered At Frontier (... named place)

DANGEROUS GOODS (see also Hazardous Material Classifications)

Articles or substance capable of posing a significant risk to health, safety or property, and that ordinarily require special attention when being transported.

DATE DRAFT

A draft that matures in a specified number of days after issuance without regard to date of acceptance.

DEAD FREIGHT

Freight charges paid by the charterer of vessel for the contracted space, which is left partially unoccupied.

DECK CARGO

Cargo carried on deck rather than stowed under deck. On deck carriage is required for certain commodities, such as explosives.

DEMURRAGE

A penalty for exceeding free time allowed for loading or unloading at a pier or freight terminal. Also a charge for undue detention of transportation equipment or carriers in port while loading or unloading.

DES

Delivered Ex Ship (... named port of destination)

 

DEQ

Delivered Ex Quay(... named port of destination)

DDU

Delivered Duty Unpaid (... named place of destination)

 

DDP

Delivered Duty Paid (... named place of destination)

DGR

Dangerous Goods Requirement.

DOCK RECEIPT

When cargo is delivered to a steamship company at the pier, the receiving clerk issues a dock receipt.

DOT

Department of Transportation (U.S.A)

DRAFT

(also Bill of Exchange) An unconditional order in writing from one person (the Drawer) to another (the Drawee), directing the drawee to pay a specified amount to a named drawer on a fixed date.

DRY LEASE

The rental of a "clean" aircraft without crew, ground staff or supporting equipment.

E

EDI or EDIFACT

Electronic Data Interchange for Administration, Commerce and Transport, from the UN-backed electronic data interchange standards body, to create electronic versions of common business documents that will work on a global scale. One digital document under consideration, the International Forwarding and Transport Message will do the jobs of six different electronic messages currently in use.

 

EXPORT DECLARATION (U.S.A)

A form to be completed by the exporter or their authorized agent and filed in triplicate by a carrier with the United State Collector of customs at the point of exit. It serves a twofold purpose:

1.  
   1. Primarily, it is used by the U.S. Bureau of Census for the compilation of export statistics on United States foreign trade (for this reason an export declaration is required for practically all shipments from the United States to foreign countries and the United States possessions, except for mail shipments of small value, or for those of a non commercial character);
   2. The declaration also serves as an export control document because it must be presented, together with the export license, to the United States Customs at the port of export. If the goods may be exported under general export license, this fact must be stated on the export declaration.

 

EXPORT LICENSE (U.S.A)

A document secured from a government, authorizing an exporter to export a specific quantity of a particular commodity to a certain country. An export license is often required if a government has place embargoes or other restrictions upon exports. See General Export License.

EXW

Ex-Works ( . . . named place)

F

FAS

Free Alongside Ship (... named port of shipment)

F.C.L.

Full container load, full car load.

FCA

Free Carrier (... named place)

 

FEU

Forty foot equivalent

FIATA

International Federation of Freight Forwarders Associations.

FOB

Free on Board (... named port of destination)

 

FORCE MAJEURE

The title of a standard clause found in marine contracts exempting the parties for nonfulfillment of their obligations by reasons of occurrences beyond their control, such as earthquakes, floods or war.

FORWARDER, FREIGHT FORWARDER, FOREIGN FREIGHT FORWARDER

An independent business that dispatches shipments for exporters for a fee. The firm may ship by land, air, or sea, or it may specialize. Usually it handles all the services connected with an export shipment; preparation of documents, booking cargo space, warehouse, pier delivery and export clearance. The firm may also handle banking and insurance services on behalf of a client.

FREE IN (F.I.)

Cost of loading a vessel is borne by the charterer.

FREE IN AND OUT (F.I.O.)

Cost of loading and unloading a vessel is borne by the charterer.

FREE OUT (F.O.)

Cost of unloading a vessel is borne by the charterer.

FREE PORT

A port which is a foreign trade zone, open to all traders on equal terms; more specifically a port where merchandise may be stored duty-free, pending re-export or sale within that country.

FREE TRADE ZONE (FTZ)

A designated area regarded as being outside a nation's customs territory.

FREIGHT FORWARDER

An individual or company , acting on the behalf of a shipper, who arranges all necessary details of shipping and documentation for a manufacturer or exporter, which includes employing the services of a carrier of carriers.

G

GANG

Group of stevedores usually 4 to 5 members with supervisor assigned to a hold or portion of the vessel being loaded or unloaded.

GATEWAY

Port of entry into a country or region.

GATT

General Agreement on Tariffs and Trade, a multilateral treaty intended to help reduce trade barriers and promote tariff concessions.

GENERAL AVERAGE

When damage to cargo on board a vessel exceeds carrier's insurance, carrier will release cargo only with an acceptance agreement to claim only a general percentage of all the damage sustained.

GROSS WEIGHT

Entire weight of goods, packing, and container,, ready for shipment.

GSA

General Sales Agent acting on behalf of an airline

H

HARMONIZED CODE

An internationally accepted and uniform description system for classifying goods for customs, statistical and other purposes.

HATCH

The cover of - or opening- in the deck of a vessel, through which cargo is loaded.

HEAVY LIFTS

Freight too heavy to be handled by regular ship's tackle.

HEAVY LIFT VESSEL

Specifically designed to be self sustaining with heavy lift cranes, to handle unusually heavy and/or out-sized cargoes.

HOUSE AIR WAYBILL

An air waybill issued by a freight consolidator.

HUB

A central location to which traffic from many cities is directed and from which traffic is fed to other areas.

HUSBANDING

Term used by steamship lines, agents, or port captains who are appointed to handle all matters in assisting the master of the vessel while in port to obtain bunkering, fresh water, food and supplies, payroll for the crew, doctors appointments, ship repair, etc.

I

IATA

International Air Transport Association.

ICAO

International Civil Aviation Organization. A specialized agency of the United Nations, with headquarters in Montreal. Its task is to promote general development of civil aviation (e.g. aircraft design and operation, safety procedures, contractual agreements).

ICC

International Chamber of Commerce

IN-BOND

A customs program for inland ports that provide for cargo arriving at a seaport to be shipped under a Customs bond to a more conveniently located inland port where the entry documents have been filed. Customs clears the shipment there, and the cargo is trucked to its destination, which normally is close to the inland port.

INCOTERMS

A set of international rules for the interpretation of the most commonly used trade terms in foreign trade. The uncertainties of different interpretations of such terms in different countries can be avoided or at least reduced to a considerable degree.

INDUCEMENT

This means the vessel will call at the port if there is sufficient amount of profitable cargo available and booked.

INLAND CARRIER

A transportation line which hauls export or import traffic between ports and inland points.

 

INSPECTION CERTIFICATE

A document certifying that merchandise (such as perishable goods) was in goods condition immediately prior to shipment.

INTELLECTUAL PROPERTY

Ownership of the legal rights to possess, use or dispose of products created by human ingenuity, including patents, trademarks and copyrights.

J

JETSAM

Goods from a ship's cargo, or parts of its equipment, that have been thrown overboard to lighten the load in time of danger, or to set a stranded ship adrift.

JUST-IN-TIME (JIT)

The principle of production and inventory control in which goods arrive when needed for production or use.

K

 

KNOCKED DOWN (KD)

An article taken apart, folded or telescoped in such a manner as to reduce its bulk at least 33 1/3% below its assembled bulk.

KNOT (Nautical)

The unit of speed equivalent to one nautical mile, or 6,080.20 feet per hour or 1.85 kilometers per hour.

L

L/C - LETTER OF CREDIT

A document issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms. Issued as revocable or irrevocable.

LAGAN

Cargo or equipment to which an identifying marker or buoy is fastened, thrown over-board in time of danger to lighten a ship's load. Under maritime law if the goods are later found they must be returned to the owner whose marker is attached; the owner must make a salvage payment.

LAY DAYS

The dates between which a chartered vessel is to be available in a port for loading of cargo.

L.C.L.

Less than container load

LESS THAN TRUCKLOAD (LTL)

Rates applicable when the quantity of freight is less than the volume or truckload minimum weight.

LETTER OF CREDIT

A document issued by a bank at a buyer's request honoring debt obligations to the seller upon receipt of the document.

LIGHTER

An open or covered barge equipped with a crane and towed by a tugboat. Used mostly in harbors and inland waterways.

LIGHTERAGE

The cost of loading or unloading a vessel by means of barges alongside.

LINER

The word "liner" is derived from the term "line traffic" which denotes operation along definite routes on the basis of definite, fixed schedules; a liner thus is a vessel that engages in this kind of transportation, which generally involves the haulage of general cargo as distinct from bulk cargo.

LIQUIDATION

The finalization of a customs entry.

 

LO/LO

The acronym meaning "lift-on,lift-off," denoting the method by which cargo is loaded onto and discharged from an ocean vessel, which in this case is by the use of a crane.

LTL

Less than truckload

M

MANIFEST

A list of the goods being transported by a carrier.

MARINE INSURANCE

An insurance which will compensate the owner of goods transported overseas in the event of loss which cannot be legally recovered from the carrier.

MARKING

Every article of foreign origin, or its container, imported into the United States shall be permanently marked in a conspicuous place in a manner which would indicate to the ultimate purchaser the English name of the country of origin of the article.

MATE'S RECEIPT

Receipt of cargo by the vessel, signed by the mate (similar to dock receipt).

M/T

Metric Ton

N

NATIONAL CARRIER

A flag carrier owned or controlled by the state.

NET WEIGHT

(Actual Net Weight) Weight of goods alone without any immediate wrappings; e.g., the weight of the contents of a tin can without the weight of the can.

NON-SCHEDULED FLIGHT

See scheduled flight.

NON-VESSEL OPERATING COMMON CARRIER (NVOCC)

An F.M.C. licensed cargo consolidator of small shipments in ocean trade, generally soliciting business and arranging for or performing containerization functions at the port.

O

OPEN ACCOUNT

A high-risk trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

P

PALLET

Load carrying platform to which loose cargo is secured before placing aboard the aircraft.

PARTICULAR AVERAGE

Partial loss or damage to goods.

PERILS OF THE SEA

Most losses covered by a marine insurance policy come within the comprehensive expression "perils of the sea," which refers to damage caused by heavy weather, strandings, strikings on rocks or on bottom, collision with other vessels, contacts with floating objects, etc.

PERISHABLES

Any cargo that loses considerable value if it is delayed in transportation (Usually refers to fresh fruit and vegetables).

PILFERAGE

As used in marine insurance policies, the term denotes petty thievery, the taking of small parts of a shipment, as opposed to the theft of a whole shipment or large unit. Many ordinary marine insurance policies do not cover against pilferage, and when this coverage is desired, it must be added to the policy.

PORT AUTHORITY

A government body (city, county or state) which in international shipping maintains various airports and/or ocean cargo pier facilities, transit sheds, loading equipment warehouses for air cargo, etc. Has the power to levy dockage and wharfage charges, landing fees, etc.

PORT OF DISCHARGE

Port where vessel is off loaded and cargo discharges.

PORT OF ENTRY

A port at which foreign goods are re-admitted into the receiving country.

PORT OF LOADING

Port where cargo is loaded aboard the vessel lashed and stowed.

POWER OF ATTORNEY

A document that authorizes a customs broker to sign all customs documents on behalf of an importer.

PRIMA FACIE

Latin, "on first appearance." A term frequently encountered in foreign trade. When a steamship company issues a clean bill of lading, it acknowledges that the goods were received "in apparent good order and condition" and this is said by the courts to constitute prima facie evidence of the conditions of the containers; that is, if nothing to the contrary appears, it must be inferred that the cargo was in good condition when received by the carrier.

PROFORMA

When used with the title of a document, the term refers to an informal document presented in advance of the arrival, or preparation of the required document, in order to satisfy a customs requirement.

Q

R

RORO (ROLL ON-ROLL OFF)

Direct drive on/drive off wheeled vehicles on specially-designed ocean-going vessels.

ROUTE

an established air passage, from point of departure to terminating station.

ROYALTY

a charge on charter flights levied by some governments before traffic rights are granted. Sometimes called a "no objection fee." Usually a fixed proportion of a total charter value.

S

SALVAGE

Rescue of goods from loss at sea or by fire; also, goods so saved, or payment made or due for their rescue.

SCHEDULE B

Refers to "Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the United States." Being replaced under the Harmonized System.

SCHEDULED FLIGHT

Any service that operates to a set timetable.

SHIPPER

Term used to describe exporter.

SHIPPER'S EXPORT DECLARATION

A form required by the Treasury Department and completed by a shipper showing the value, weight, consignee, destination, etc., of export shipments as well as Schedule B identification number (for USA)

SHIP'S MANIFEST

An instrument in writing containing a list of the shipments comprising the cargo of the vessel.

SHORT-SHIPPED

Cargo manifested but not loaded.

STEAMSHIP AGENT

A duly appointed and authorized representative in a specified territory acting in behalf of a steamship line or lines and attending to all matters relating to the vessels owned by his principals.

STEAMSHIP LINE

Company is usually composed of the following departments; vessel operations, container operations, tariff department, booking, outbound rates, inward rates and sales. the company can maintain its own in country U.S. offices to handle regional sales, operations and/or other matters or appoint steamship agents to represent them doing same. Some lines have liner offices in several regions and have appointed agents in others.

STOWAGE

The lacing of cargo in a vessel in such a manner as to provide the utmost safety and efficiency for the ship and the goods it carries.

STRIKES, RIOTS, AND CIVIL COMMOTIONS

An insurance clause referring to loss or damage directly caused by strikers, locked-out workmen, persons participation in labor disturbances, and riots of various kinds. The ordinary marine insurance policy does not cover this risk; coverage against it can be added only by endorsement.

T

TALLY SHEET

List of cargo, incoming and outgoing, checked by Tally clerk on dock.

TARE WEIGHT

The weight of packing and containers without the goods to be shipped.

TARIFF

A general term for any listing of rates, charges, etc.

TEMPERATURE CONTROLLED CARGO

Any cargo requiring carriage under controlled temperature.

TEU

Twenty foot equivalent.

THIRD FREEDOM RIGHT

Where cargo is carried by an airline, from the country in which it is based, to a foreign country.

TIME DRAFT

A draft that matures in a certain number of days, either from acceptance or date of the draft.

TON

Freight rates for liner cargo generally are quoted on the basis of a certain rate per ton, depending on the nature of the commodity. This ton, however, may be weight ton or a measurement ton.

TON-DEADWEIGHT

Indicates the carrying capacity of the ship in terms of the weight in tons of the cargo, fuel, provisions and passengers which a vessel can carry.

TRAMP

A tramp is a vessel that does not operate along a definite route on a fixed schedule, but calls at any port where cargo is available.

TRANSSHIPMENT

The transfer of a shipment from one carrier to another in international trade, most frequently from one ship to another. In as much as the unloading and reloading of delicate merchandise is likely to cause damage, transshipments are avoided whenever possible.

U

ULD

Unit Load Device. Pallet or Container for freight (Refer to more details under Container Configurations).

UNCLEAN BILL OF LADING

A bill containing reservations as to the good order and condition of the goods, or the packaging, or both. Examples: "bags torn;" "drums leaking;" "one case damaged;" "rolls chafed."

V

VOLUME WEIGHT

Used when calculating air freight when the size of the carton is greater than the average weight,

W

WAREHOUSE RECEIPT

A receipt of commodities deposited in a warehouse, identifying the commodities deposited. It is non-negotiable if permitting delivery only to a specified person or firm, but it is negotiable if made out to the order of a person or firm or to a bearer. Endorsement (without endorsement if made out to bearer) and delivery of a negotiable warehouse receipt serves to transfer the property covered by the receipt serves to transfer the property covered by the receipt. Warehouse receipts are common documents in international banking.

WAREHOUSE-TO-WAREHOUSE

A clause in marine insurance policy whereby the underwriter agrees to cover the goods while in transit between the initial point of shipment and the point of destination, with certain limitations, and also subject to the law of insurable interest. When it was first introduced, the warehouse-to-warehouse clause was extremely important, but now its importance is diminished by the marine extension clauses, which override its provisions.

WAR RISK

The possible aggressive actions against a ship and its cargo by a belligerent government. This risk can be insured by a marine policy with a risk clause.

WAR RISK INSURANCE

Insurance issued by marine underwriters against war-like operations specifically described in the policy. In former times, war risk insurance was taken out only in times of war, but currently many exporter cover most of their shipments with war risk insurance as a protection against losses from derelict torpedoes and floating mines placed during former wars, and also as a safeguard against unforeseen warlike developments. In the United states, war risk insurance is written in a separate policy from the ordinary marine insurance; it is desirable to take out both policies with the same underwriter in order to avoid the ill effects of a possible dispute between underwriters as to the cause (marine peril or war peril) of a given loss.

WEIGHT

 

• Gross - The weight of the goods including packing, wrappers, or containers, internal and external. The total weight as shipped.
• Net - The weight of the goods themselves without the inclusion of any wrapper.
• Tare - The weight of the packaging or container.
• Weight/Measurement Ton - In many cases, a rate is shown per weight/measurement ton, carrier's option. This means that the rate will be assessed on either a weight ton or measurement ton basis, whichever will yield the carrier the greater revenue.

WET LEASE

An arrangement for renting an aircraft under which the owner provides crews, ground support equipment, fuel and so on (of dry lease).

WHARFAGE

A charge assessed by a pier or dock owner against the cargo or a steamship company for use of the pier or dock.

 

WITH AVERAGE

A marine insurance term meaning that shipment is protected for partial damage whenever the damage exceeds a stated percentage.

W/M

Weight and/or measurement