Abbreviations

 Abbreviations

 

AbbreviationExplanation
3PLThird party logistics – An outsourced solution for pick & pack, warehousing and
distribution.
4PLFourth 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.
AgentsA partner outside your own organization that takes care of receiving/sending
shipments
ATAActual Time of Arrival
ATDActual Time of Departure
BAFBunker Adjustment Factor is a surcharge to cover oil price fluctuation
BL or B/LBill 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
the goods.
Bonded WarehouseA location accepted by Customs to store imported un-taxed goods before final
delivery and payment of taxes.
BreakbulkNon-containerized cargo.
BrokerageClearing 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
CarnetA 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.
CertificateA 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 OriginA 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.
CFSContainer Freight Station - place or depot where individual LCL cargo is loaded into, and unloaded from, containers
Chargeable weightCalculated 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/LA bill of lading indicating that the goods were received by the carrier in good order and condition.
ConsolidationWhere a freight forwarder groups, or consolidates, one or more shipments for one or more shippers to the one destination as one overall shipment.
Cross TradeHandling of cargo between different countries outside your own
CYContainer 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.
DemurrageExtra charges paid to a carrier when loading and/or unloading has not been completed within the specified time.
Door to doorA service that includes every step of a transport.
ETAEstimated Time of Arrival
ETDEstimated Time of Departure
ETSEstimated Time of Sailing
Exchange RateThe price of one currency in the terms of another.
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.
FCLFull Container Load – A container that is loaded and unloaded under the risk and
account of one shipper and only one consignee.
FEUForty-foot equivalent unit, the means of describing the carrying capacity of a train or ship.
Flat RackA 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 MajeureA 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 WeightThe total weight of a shipment of goods, including their packaging such as crates, pallets etc.
HAWBHouse Air waybill - contract of carriage between the shipper and consignee. This
document includes vital information about the shipment for e.g. Customs
purposes.
Hazardous GoodsCertain 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/LA bill of lading issued by a freight forwarder acting as carrier.
Incoterms 2010A 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
LCLLess Container Load – A container where goods is grouped with other
consignments for the same destination.
Letter of CreditA 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.
ManifestA list of the various shipments being carried on a ship or aircraft.
Master B/LThe 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.
MAWBMaster Air Waybill - Contract of carriage between the forwarder and carrier.
This is the main document that is accompanying the transported goods.
NCTSNew Computerized Transit System – A customs system for handling of goods in
transit through several countries without having to pay taxes and duties.
Net WeightThe weight, or mass, of the goods themselves without any packaging.
Notify PartyThe person or company to be advised by the carrier upon arrival of the goods at the destination port.
PODProof of Delivery – a document or service for proving that the goods has been
delivered.
Shipped On BoardA 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/LA non-negotiable B/L in which the goods are consigned directly to a named consignee.
TareThe weight of packaging or a container without the goods.
TaricA unique classification of commodities for customs purposes.
TEUTwenty-foot equivalent unit, the means of describing the carrying capacity of a train or ship.
THCTerminal handling charge, levied by CY and CFS operators for goods passing through their operations.
TransshipmentGoods 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.
WharfagePort charges