|3PL||Third party logistics – An outsourced solution for pick & pack, warehousing and |
|4PL||Fourth party logistics - An outsourced solution for pick & pack, warehousing and |
distribution including management of the whole process.
|Ad Hoc||“For this” - meaning an express specific solution when needed.|
|Agents||A partner outside your own organization that takes care of receiving/sending |
|ATA||Actual Time of Arrival|
|ATD||Actual Time of Departure|
|BAF||Bunker Adjustment Factor is a surcharge to cover oil price fluctuation|
|BL or B/L||Bill of Lading - A document used in the transport of goods by sea. It serves |
several purposes in international trade, both as transit information and title to
|Bonded Warehouse||A location accepted by Customs to store imported un-taxed goods before final |
delivery and payment of taxes.
|Brokerage||Clearing of goods through customs systems for shippers and consignees. Involves |
the preparation of documents and/or electronic submissions, the calculation and
payment of taxes, duties and excises, and facilitating communication between
government authorities and importers and exporters
|CAF||Currency Adjustment Factor is a surcharge to cover the currency fluctuations|
|Carnet||A document, normally issued by a Chamber of Commerce which is a member of the International Chamber of Commerce (ICC), to enable the holder to temporarily take merchandise into certain countries, as samples or for display purposes, without the need to pay import duty or pay a bond for the duty. The issuer will require the holder to give them security by way of a bank guarantee.|
|Certificate||A general term for any document issued by the seller or another party, certifying to some action having taken place or some fact about the goods.|
|Certificate of Origin||A certificate stating the country of origin of the goods. Depending on the importing country's requirements, this can be as simple as being issued by the seller or the manufacturer. In most cases however, it is required to be issued by a Chamber of Commerce in the country of origin.|
|CFS||Container Freight Station - place or depot where individual LCL cargo is loaded into, and unloaded from, containers|
|Chargeable weight||Calculated weight for bulky goods sent by air. Generally stated as 6000cm3 = 1 kg, meaning that the total volume in cubic centimeters is divided by 6000 to give an equivalent weight in kgs. The airline or forwarder will charge whichever is the greater of the actual weight and volumetric weight. Also shown sometimes as 167 kg = 1 cbm|
|Clean B/L||A bill of lading indicating that the goods were received by the carrier in good order and condition.|
|Consolidation||Where a freight forwarder groups, or consolidates, one or more shipments for one or more shippers to the one destination as one overall shipment.|
|Cross Trade||Handling of cargo between different countries outside your own|
|CY||Container Yard - place or depot where individual containers are held prior to loading on board a ship and after unloading from the ship. Can be inland or at the dock-side.|
|Demurrage||Extra charges paid to a carrier when loading and/or unloading has not been completed within the specified time.|
|Door to door||A service that includes every step of a transport.|
|ETA||Estimated Time of Arrival|
|ETD||Estimated Time of Departure|
|ETS||Estimated Time of Sailing|
|Exchange Rate||The price of one currency in the terms of another.|
|FAK||Freight 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.|
|FCL||Full Container Load – A container that is loaded and unloaded under the risk and |
account of one shipper and only one consignee.
|FEU||Forty-foot equivalent unit, the means of describing the carrying capacity of a train or ship.|
|Flat Rack||A device which is designed for cargos which will not fit into containers to be shipped on container ships. Consists of a base and two ends of the same dimensions as an ISO container.|
|Force Majeure||A clause in a contract which protects both parties in the event that part of the contract cannot be complied with due to causes outside the control of the parties and could not have been avoided by exercising due care. For example, floods, earthquakes, civil unrest and so on.|
|Gross Weight||The total weight of a shipment of goods, including their packaging such as crates, pallets etc.|
|HAWB||House Air waybill - contract of carriage between the shipper and consignee. This |
document includes vital information about the shipment for e.g. Customs
|Hazardous Goods||Certain cargoes, as prescribed by the UN, such as explosive, radioactive, poisonous and flammable|
goods etc, which must be declared to the carrier before being loaded onto ships or aircraft. The penalties for mis-declaring or failing to declare hazardous or dangerous cargo are extremely high.
|House B/L||A bill of lading issued by a freight forwarder acting as carrier.|
|Incoterms 2010||A set of rules for the interpretation of the most commonly used trade terms in foreign trade, recognized throughout the world, issued by the International Chamber of Commerce. It is most strongly recommended that every exporter and importer has a copy of "Incoterms 2010". Link: Incoterms 2010|
|LCL||Less Container Load – A container where goods is grouped with other |
consignments for the same destination.
|Letter of Credit||A conditional order in writing, issued by a buyer's bank, guaranteeing to pay the seller upon presentation of stipulated documents, strictly in accordance with the credit.|
|Manifest||A list of the various shipments being carried on a ship or aircraft.|
|Master B/L||The term used for the B/L issued by a shipping company to a freight forwarder for all of the goods covered by|
one or more House B/Ls on the one ship going from one loading port to one destination port.
|MAWB||Master Air Waybill - Contract of carriage between the forwarder and carrier. |
This is the main document that is accompanying the transported goods.
|NCTS||New Computerized Transit System – A customs system for handling of goods in |
transit through several countries without having to pay taxes and duties.
|Net Weight||The weight, or mass, of the goods themselves without any packaging.|
|Notify Party||The person or company to be advised by the carrier upon arrival of the goods at the destination port.|
|POD||Proof of Delivery – a document or service for proving that the goods has been |
|Shipped On Board||A notation on a bill of lading, indicating that not only did the carrier receive the goods in good order and condition, but they were also placed on board the ship.|
|Straight B/L||A non-negotiable B/L in which the goods are consigned directly to a named consignee.|
|Tare||The weight of packaging or a container without the goods.|
|Taric||A unique classification of commodities for customs purposes.|
|TEU||Twenty-foot equivalent unit, the means of describing the carrying capacity of a train or ship.|
|THC||Terminal handling charge, levied by CY and CFS operators for goods passing through their operations.|
|Transshipment||Goods are transferred from one ship to another at an intermediate port. Can also refer to goods being transferred from one method of transport to another.|