There are so many freight related terms that sometimes even the pros are left scratching their heads. This is a very flexible description, a rule of thumb is to. Download dictionary of shipping terms ebook pdf epub. Get your free pdf now, and control your risks and responsibilities for each of the 11 incoterms 2020 at a glance. Glossary of international shipping terms old dominion freight line.
What are the most common freight shipping terms and. This comprehensive dictionary contains concise definitions of maritime terms and phrases, including those used in liner, tramp and bulk shipping. Common freight term glossary and explanations freightos. Items are typically divided by a company defined set ofvalues into a,b and. Shipping terms and definitions arcbest corporation. Shipping terms and definitions subject learn more about common shipping terms and acronyms, including definitions and service descriptions for frequently used transportation and logistics language. Bond port port of a vessels initial customs entry to any country. Incoterms 2015 exw ex works the seller makes the goods available to be collected at their premises and the buyer is responsible for all other risks, transportation costs, taxes and duties from that point onwards. A document that establishes the terms of contract between a shipper and a transportation company. Glossary of port and shipping terms ppiaf a multidonor.
At mathez freight forwarding, we advise you from start to end. Download shipping terms and definitions arcbest corporation book pdf free download link or read online here in pdf. You can use our freight rate calculator to help you decide how different incoterms will impact your freight cost. Understanding freight shipping terms and definitions. An application that expedites the clearance of cargo for the subsequent release of containers.
Incoterms, international commercial terms, shipping terms. 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. Read online shipping terms and definitions arcbest corporation book pdf free download link book now. The international warehouse logistics association iwla does not take responsibilityfor the content of these definitions and doesnot endorse theseas official. F terms require trust because if the buyer cancels the international transit, the supplier wont have a bill of lading to present to the bank. A term or definition mentioned herein does not neccessarily reflect the meaning or interpretation applicable to a specific business. Obsolete, albeit heavily used, term of sale meaning cargo and freight whereby seller pays for cost of goods and freight charges up to destination port.
There are more than two hundred terms and their definitions in our glossary. A carrier facility where less than container load shipments are consolidated or unloaded. Glossary of shipping terms download pdf weve put together. Whether youre new to the freight industry or want to brush up on freight terms, our shipping dictionary is your goto resource. Who is responsible for the cost of transporting the goods, including insurance, taxes and duties. One set of terms that causes considerable confusion are incoterms. Aug 16, 2019 check out the basic shipping terms which will help you understand more about the shipping industry. Fob definition shipping terms of sale fob, free on board, is a transportation term that indicates that the price for goods includes delivery at the sellers expense to a specified point and no further. Glossary of shipping terms a2z mainfreight singapore. Msc is a world leader in global container shipping, dedicated to providing efficient transport solutions. Traditionally, the term was reserved for general cargo vessels carrying smaller parcels of nonhomogeneous. Learn and know the meaning of these shipping terms by their definitions here at the economic times.
View and download the terms and conditions that apply to all fedex u. Acceptance of terms through use by using this site, you user signify your agreement to these terms and conditions. Terms and expressions in shipping and offshore general shipping terms types of ships vessel sizes geographical abbreviations capacity measurements offshore terms offshore vessels types of affreightment worldscale abbreviations general shipping terms arbitration a method of settling disputes by one or more arbitrators. Disclaimer this information is disseminated under the sponsorship of the u.
Incoterms international commercial terms are threeletter trade terms developed by international chamber of commerce and widely used in international and domestic contracts for the sale of goods. Incoterms 2020 is the ninth set of international contract terms published by the international chamber of commerce, with the first set having been published in 1936. Fob shipping terms freight terms customer takes title of goods customer responsibilities vendor responsibilities fob point of origin, freight collect at point of origin or factory pays freight bears freight owns goods in transit must file claims for loss, damage or overcharges fob point of origin, freight prepaid and allowed at point of origin. Chartering terms az shipping dictionary and abbreviation. Theyre accepted by governments and shippers worldwide, and are used to prevent uncertainty or misunderstandings. This is the assembly of pieces of cargo, secured into one manageable unit. A term or definition mentioned herein does not neccessarily reflect the. Fob definition shipping terms of sale freight management. This guide is designed to give you a quick overview of the incoterms rules frequently used worldwide in international and domestic contracts, illustrating responsibilities between. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms.
If you are new to shipping terms contracts you may be unaware of the different trading practices in their respective countries. Incoterms 2020 defines 11 rules, the same number as defined by incoterms 2010. Weve compiled all of the most commonly used terms and phrases and their definitions in one place to help make your life easier. This chart is designed to provide a basic level of understanding of incoterms rules and definitions, and is a general guide only. Incoterms 2015 an overview international ommercial terms incoterms are internationally recognized standard trade terms used in sales contracts. This set of rules defines the responsibilities of buyers and sellers around the delivery of goods. For confirmation on the applicability of any incoterm, please refer to your local magellan representative. That leaves the four c terms as the best options to use with a letter of credit. Shipments between ports of a single nation, fre quently reserved to national flag vessels of that nation. It serves as a document of title, a contract of carriage, and a receipt for goods. Searchable database containing common marine acronyms, abbreviations, and dictionary about all subjects, with a focus on technical, chartering, boating, seawords telecommunications. Shipping terms and definitions arcbest corporation pdf. You can access these by simply clicking on the appropriate category below.
We used our extensive logistics knowledge and experience to create a straightforward guide to freight shipping and logistics terminology. All books are in clear copy here, and all files are secure so dont worry about it. Banking terms list of important banking terminology pdf. A legal document that outlines the types of goods being. Bonded warehouse a warehouse authorized by customs authorities.
If you do not agree to this agreement please do not use this site. Sources drawn on in developing definitions for this glossary include. Port charge relating to a vessel moored at approved anchorage site in a harbor. For your convenience, we have arranged these into four main categories. Bill of lading a document signed by the carrier which acts as a receipt and evidence of title to the cargo. The terms in this glossary have been carefully selected from the myriad of terms one can encounter in the shipping business. Introduction to basic shipping terms the coffee guide. Consortium a group of combined transport operators who agree to rationalise sailing in a trade and carry each others cargo. Our exhaustive glossary fleshes out freight, clarifies cargo, and demystifies the documents with easytounderstand explanations of the words and acronyms you will encounter most. Most commonly used chartering abbreviations, terms.
For example, when shipping exw, youll be responsible for the added cost of getting your goods from your supplier to the seaport or airport. Experienced shippers, buyers and sellers may even sound like theyre speaking a foreign language. Acquiescence when a bill of lading is accepted or signed by a shipper or shippers agent without protest, the shipper is said to acquiesce to the terms, giving a silent form of consent. Supply chain and logistics terms and glossary updated february, 2010 please note. View and download shipping terms and conditions fedex. A contract between a shipper and carrier listing the terms for. Glossary of international shipping terms a8a manifest a form issued by a licensed customs broker which allows ccra to monitor in bond shipments as they move through canada. Supply chain and logistics terms and glossary updated. Department of transportation in the interest of information exchange. Simply choose container, box, or pallet shipping, enter your dimensions and weight, and. Accessorial charges charges that are applied to the base tariff rate or base contract rate, e. Supply chain and logistics terms and glossary iwla.
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