Glossary of Shipping Terms.docx
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Glossary of Shipping Terms.docx
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GlossaryofShippingTerms
GlossaryofShippingTerms
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A
Top
AA
AlwaysAfloat(Insomeportstheshipagroundwhenapproaching,oratberth.)
AAR
Abbreviationfor:
-AgainstAllRisks(insuranceclause).
-AssociationofAmericanRailroads.
Abaft
Apointbeyondthemidpointofashipslength,towardstherearorstern.
AbandonAproceedingwhereinashipper/consigneeseeksauthoritytoabandonallorpartsoftheircargo.
AbatementAdiscountallowedfordamageoroverchargeinthepaymentofabill.
ABIU.S.Customs'"AutomatedBrokerInterface,"bywhichbrokersfileimporters'entrieselectronically.
Aboard
Referringtocargobeingput,orladen,ontoameansofconveyance.
Absorption
Onecarrierassumesthechargesofanotherwithoutanyincreaseinchargestotheshipper.
Acceptance
-Atimedraft(orbillofexchange)thatthedrawee(payer)hasacceptedandisunconditionallyobligatedtopayatmaturity.-Broadlyspeaking,anyagreementtopurchasegoodsunderspecifiedterms.
AccessorialCharges
Chargesthatareappliedtothebasetariffrateorbasecontractrate,e.g.,bunkers,container,currency,destination/delivery.
Acquiescence
Whenabillofladingisacceptedorsignedbyashipperorshipper'sagentwithoutprotest,theshipperissaidtoacquiescetotheterms,givingasilentformofconsent.
Acquittance
Awrittenreceiptinfull,indischargefromallclaims.
ACS(A.C.S.)
U.S.Customs'mastercomputersystem,"AutomatedCommercialSystems."
ActofGod
Anactbeyondhumancontrol,suchaslightning,floodorearthquake.
AdValorem
AtermfromLatinmeaning,"accordingtovalue."
AdministrativeLawJudge
Arepresentativeofagovernmentcommissionoragencyvestedwithpowertoadministeroaths,examinewitnesses,taketestimony,andconducthearingsofcasessubmittedto,orinitiatedby,thatagency.AlsocalledHearingExaminer.
Admiralty(Adm.)
ReferstomarinematterssuchasanAdmiraltyCourt.
Advance
Tomovecargouplinetoavesselleavingsoonerthantheonebooked.(See"Roll.")
AdvancedCharge
Transportationchargeadvancedbyonecarriertoanothertobecollectedbythelatercarrierfromtheconsignororconsignee.
Adventure
Shipmentofgoodsonshipper'sownaccount.Abillofadventureisadocumentsignedbythemasteroftheshipthatcarriesgoodsatowner'risk.
AdviceofShipment
Anoticesenttoalocalorforeignbuyeradvisingthatshipmenthasgoneforwardandcontainingdetailsofpacking,routing,etc.Acopyoftheinvoiceisoftenenclosedand,ifdesired,acopyofthebilloflading.
AdvisingBank
Abankoperatingintheseller'scountry,thathandleslettersofcreditinbehalfofaforeignbank.
Affreightment,Contractof
Anagreementbyanoceancarriertoprovidecargospaceonavesselataspecifiedtimeandforaspecifiedpricetoaccommodateanexporterorimporter.
Aft
Movementtowardthestern(backend)ofaship.
AgencyTariff
Atariffpublishedbyanagentonbehalfofseveralcarriers.
Agent(Agt.)
Apersonauthorizedtotransactbusinessforandinthenameofanotherpersonorcompany.Typesofagentare:
(1)brokers,
(2)commissionmerchants,
(3)residentbuyers,
(4)salesagents,
5)manufacturer'srepresentatives.
AggregateShipment
Numerousshipmentsfromdifferentshipperstooneconsigneethatareconsolidatedandtreatedasasingleconsignment.
Agreedvaluation
Thevalueofashipmentagreeduponinordertosecureaspecificfreightrate.
AgreedWeight
Theweightprescribedbyagreementbetweencarrierandshipperforgoodsshippedincertainpackagesorinacertainnumber.
A.I.D.
AgencyforInternationalDevelopment.
AirWaybill
Theforwardingagreementorcarryingagreementbetweenshipperandaircarrierandisissuedonlyinnonnegotiableform.
AllIn
Thetotalpricetomovecargofromorigintodestination,inclusiveofallcharges.
Alongside
Aphrasereferringtothesideofaship.Goodsdelivered"alongside"aretobeplacedonthedockorbargewithinreachofthetransportship'stacklesothattheycanbeloaded.
AlternativeRates
Privilegetousetherateproducingthelowestcharge.
AmbientTemperature
Thetemperatureofasurroundingbody.Theambienttemperatureofacontaineristheatmospherictemperaturetowhichitisexposed.
AmericanBureauofShipping
U.S.classificationsocietywhichcertifiesseagoingvesselsforcompliancetostandardizedrulesregardingconstructionandmaintenance.
AMS
TheU.S.Customs"AutomatedManifestSystem."
Anti-DumpingDuty
Atariffimposedtodiscouragesaleofforeigngoods,subsidizedtosellatlowpricesdetrimentaltolocalmanufacturers.
AnyQuantity(A.Q.)
Usuallyreferstoaratingthatappliestoanarticleregardlessofsizeorquantity.
ApparentGoodOrder
Whenfreightappearstobefreeofdamagesofarasageneralsurveycandetermine.
Appraisement
DeterminationofthedutiablevalueofimportedmerchandisebyaCustomsofficialwhofollowsproceduresoutlinedintheircountry'stariff,suchastheU.S.TariffActof1930.
Appraiser'sStores
Thewarehouseorpublicstorestowhichsamplesofimportedgoodsaretakentobeinspected,analyzed,weighed,etc.byexaminersorappraisers.
Arbitrary
Astatedamountoverafixedratetoonepointtomakearatetoanotherpoint.
Averager
Seeinsurance.
ArrivalNotice
Anotificationbycarrierofship'sarrivaltotheconsignee,the"NotifyParty,"and-whenapplicable-the"AlsoNotifyParty."Thesepartiesininterestarelistedinblocks3,4and10,respectively,oftheBillofLading.
ASCX12
AmericanStandardsCommitteeX12responsiblefordevelopingEDIstandardsfortheUnitedStates.
Assignment
Atermcommonlyusedinconnectionwithabilloflading.Itinvolvesthetransferofrights,titleandinterestinordertoassigngoodsbyendorsingthebilloflading.
Astern
-Behindavessel-Moveinareversedirection.
A.T.A.
AmericanTruckingAssociation.
ATDNSHINC
AnytimeDayorNightSundays&HolidaysIncluded.
Athwartships
Adirectionacrossthewidthofavessel.
AvoirdupoisPound
Sameas0.4535924277kilograms.
AWWL
AlwayswithinInstituteWarrantiesLimits(Insurancepurpose).
B
Top
BB
BallastBonus (SpecialpaymentabovetheCharteringpricewhentheshiphastosailalongwayonballasttoreachtheloadingport.)
BB
Bareboat(Methodofcharteringoftheshipleavingthechartererwithalmostalltheresponsibilitiesoftheowner.)
B/L
Abbreviationfor"BillofLading."
Backhaul
Tohaulashipmentbackoverpartofarouteithastraveled.
BAF
Abbreviationfor"BunkerAdjustmentFactor."Usedtocompensatesteamshiplinesforfluctuatingfuelcosts.Sometimescalled"FuelAdjustmentFactor"orFAF.
BalloonFreight
Light,bulkyarticles.
BankGuarantee
Guaranteeissuedbyabanktoacarriertobeusedinlieuoflostormisplacedoriginalnegotiablebilloflading.
Barratry
Anactcommittedbythemasterormarinersofavessel,forsomeunlawfulorfraudulentpurpose,contrarytotheirdutytotheowners,wherebythelattersustaininjury.Itmayincludenegligence,ifsogrossastoevidencefraud.
Barrel(BBL)
Atermofmeasurereferringto42gallonsofliquidat60oF.
BaseRate
Atarifftermreferringtooceanratelessaccessorialcharges,orsimplythebasetariffrate.
BCO
Abbreviationfor"BeneficialCargoOwner."Referstotheimporterofrecord,whophysicallytakespossessionofcargoatdestinationanddoesnotactasathirdpartyinthemovementofsuchgoods.
Beam
Thewidthofaship.
BeltLine
Aswitchingrailroadoperatingwithinacommercialarea.
Beneficiary
-Entitytowhommoneyispayable.
-Theentityforwhomaletterofcreditisissued.
-Thesellerandthedrawerofadraft.
BerthTerms
Shippedunderratethatincludescostfromendofship'stackleatloadporttoendofship'stackleatdischargeport.
Beyond
Usedwithreferencetochargesassessedforcargomovementpastaline-haulterminatingpoint.
Bilateral
Acontracttermmeaningbothpartiesagreetoprovidesomethingfortheother.
BillofExchange
IntheUnitedStates,commonlyknownasa"Draft." However,billofexchangeisthecorrectterm.
BillofLading(B/L)
Adocumentthatestablishesthetermsofacontractbetweenashipperandatransportationcompany.Itservesasadocumentoftitle,acontractofcarriageandareceiptforgoods.
-AmendedB/L:
B/Lrequiringupdatesthatdonotchangefinancialstatus;thisisslightlydifferentfromcorrectedB/L.
-B/LTerms&Conditions:
thefineprintonB/L;defineswhatthecarriercanandcannotdo,includingthecarrier'sliabilitiesandcontractualagreements.
-B/L'sStatus:
representswhetherthebillofladinghasbeeninput,rated,reconciled,printed,orreleasedtothecustomer.
-B/L'sType:
referstothetypeofB/Lbeingissued.Someexamplesare:
aMemo(ME),Original(OBL),Non_negotiable,Corrected(CBL)orAmended(AM)B/L.
-CanceledB/L:
B/Lstatus;usedtocancelaprocessedB/L;usuallypershipper'srequest;differentfromvoidedB/L.
-CleanB/L:
AB/Lwhichbearsnosuperimposedclauseornotationwhichdeclaresadefectiveconditionofthegoodsand/orthepackaging.
-CombinedB/L:
B/Lthatcoverscargomovingovervarioustransports.
-ConsolidatedB/L:
B/LcombinedorconsolidatedfromtwoormoreB/L's.
-CorrectedB/L:
B/Lrequiringanyupdatewhichresultsinmoney_orotherfinanciallyrelatedchanges.
-DomesticB/L:
Non-negotiableB/Lprimarilycontainingroutingdetails;usuallyusedbytruckersandfreightforwarders.
-DuplicateB/L:
AnotheroriginalBillofLadingsetiffirstsetislost.alsoknownasreis
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