Glossary

B/L: Bill of lading – acts as a receipt for the cargo and contains the terms of the contract; of carriage and is a document of title to the goods.
B/L Ton: Bill of lading ton-the greater weight or measurement of goods where 1 ton is either; 1000 kilogramme or 1 cubic metre, also called Freight Ton
Blue Book: Sets out regulations for the carriage of dangerous goods in ships, as required by the; Department of Trade for dangerous goods aboard ships in British ports. It largely; refers to the IMDG Code (see below).
Bonded Warehouse: A place of security approved by the custom authorities for the deposit, keeping and; securing of goods liable to excise duty, without payment of this duty.
Box: A colloquial name for a container.
Boxtime: A standard BIMCO time charter for container ships.
Break Bulk Cargo: Goods shipped loose in the vessel’s hold and not in containers.
CABAF: Currency and bunker adjustment factor, a combination of CAF and BAF.
Cabotage: Coastal Navigation , Coastal Cargo Marine transportation , Cargo marine transportation in; National coastal Area .
CAF: Currency adjustment factor- adjusts the freight to reflect currency exchange; fluctuations.
C&E: Customs and Excise.
C&F: Cost and Freight- a conventional port-to-port INCOTERM of sale, more correctly; known as CFR (see below)
CFR Cost and Freight: “Cost and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.
CFS: Container Freight Station- a place for the packing and unpacking of LCL; consignments. Sometimes known as C/B in the U.K; Depots in other parts of the; world’ and ICD in the U.K. and the Indian Subcontinent.
CIF Cost, Insurance and Freight: “Cost, Insurance and Freight” means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. The seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination. ‘The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIF the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.”; “The seller also contracts for insurance cover against the buyer’s risk of loss of or damage to the goods during the carriage. The buyer should note that under CIP the seller is required to obtain insurance only on minimum cover. Should the buyer wish to have more insurance protection, it will need either to agree as much expressly with the seller or to make its own extra insurance arrangements.”
CIP Carriage And Insurance Paid To: “Carriage and Insurance Paid to” means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
CMI: Comite Maritime International – an international committee of maritime lawyers.
COT: Customer’s On Transport-i.e. the customer collects the cargo from or delivers it to; the CFS/CY.
COU: Clip on Unit-a portable refrigeration unit.
CPT: Carriage Paid To-a new combined transport Incoterm replacing CFR where CT is; involved but applicable to all modes of transport, it used to be DCP. Particulary; appropriate for combined transport.
CSC: Container Safety Convention.
CT: Combined Transport- carriage by more than one mode of transport under ome; contract of carriage.
CY: Container Yard-collection and distribution point for FCL (see below) containers.
Certificate of Origin: A document certifying the country of origin of goods which is normally issued or; signed by a Chamber of Commerce or Embassy.
Consortium: A group of CTO who agree to rationallise sailings in a trade and carry each others; cargo.
CPT Carriage Paid To: “Carriage Paid To” means that the seller delivers the goods to the carrier or another person nominated by the seller at an agreed place (if any such place is agreed between parties) and that the seller must contract for and pay the costs of carriage necessary to bring the goods to the named place of destination.
DAT Delivered At Terminal: “Delivered at Terminal” means that the seller delivers when the goods, once unloaded from the arriving means of transport, are placed at the disposal of the buyer at a named terminal at the named port or place of destination. “Terminal” includes a place, whether covered or not, such as a quay, warehouse, container yard or road, rail or air cargo terminal. The seller bears all risks involved in bringing the goods to and unloading them at the terminal at the named port or place of destination.
DAP Delivered At Place: “Delivered at Place” means that the seller delivers when the goods are placed at the disposal of the buyer on the arriving means of transport ready for unloading at the named place of destination. The seller bears all risks involved in bringing the goods to the named place.
DDP Delivered Duty Paid: “Delivered Duty Paid” means that the seller delivers the goods when the goods are placed at the disposal of the buyer, cleared for import on the arriving means of transport ready for unloading at the named place of destination. The seller bears all the costs and risks involved in bringing the goods to the place of destination and has an obligation to clear the goods not only for export but also for import, to pay any duty for both export and import and to carry out all customs formalities.
Delivery Order: A document authorizing delivery to a nominated party of goods in the care of a; third party. This document can be issued by a carrier on surrender of the original; bill of lading and then used by the merchant to transfer title by endorsement.
Demurrage: A charge raised for detaining a vessel, cargo or FCL or carrier’s containers and/or; trailers for a longer period than provided for in the tariff or contract.
Depot A CFS, (see above).
Detention: A charge raised for detaining cargo. Containers or trailers for a longer period than; provided for in the tariff.
EDI: Electronic Data Interchange-the transfer of structured data from one computer; system to another.
EDIFACT: EDI For Administration, Commerce and Transport- an – or- ganisation responsible; to UN ECE for the development of standard EDI messages for Adiminstration,; Commerce and Transport.
EDP: Electronic Data Processing-computer processing of data.
ETC: Electronic Data Credits- and idea being developed by the EDI Banking Interst; Section to facilitate an EDI alte nati e to doc menta c edits; Section to facilitate an EDI alternative to documentary credits.
ETD: Estimated Time of Departure (see ETA)
EXW Ex Works: “Ex Works” means that the seller delivers when it places the goods at the disposal of the buyer at the seller’s premises or at another named place (i.e.,works, factory, warehouse, etc.). The seller does not need to load the goods on any collecting vehicle, nor does it need to clear the goods for export, where such clearance is applicable.
FAS Free Alongside Ship: “Free Alongside Ship” means that the seller delivers when the goods are placed alongside the vessel (e.g., on a quay or a barge) nominated by the buyer at the named port of shipment. The risk of loss of or damage to the goods passes when the goods are alongside the ship, and the buyer bears all costs from that moment onwards.
FCA Free Carrier: “Free Carrier” means that the seller delivers the goods to the carrier or another person nominated by the buyer at the seller’s premises or another named place. The parties are well advised to specify as clearly as possible the point within the named place of delivery, as the risk passes to the buyer at that point.
FCL Full: Container Load-an arrangement whereby the shipper utilizes all the space in a; container which he packs himself. “FCL door (or house)/LCL depot” would describe; a movement where a haulier, who was the sub-contractor of the carrier, took an; empty container to a shipper’s premises for packing by the shipper and then to haul; the loaded container back to the container yard. At the importing end, the loaded; container would then be unpacked at the CTO’s depot by the sub-contractor of the; carrier, who would effect delivery to the consignee’s promises. “FCL port (or; pier)/FCL deport” is when the carrier receives from the shipper at the vessel’s side a; container packed by the shipper and delivers same to the consignee at the importing; depot for the consignee to take it to his premises for unpacking and subsequent; retum of the empty container to carrier’s depot.
Feeder Vessel: A short- sea vessel used to fetch and carry goods and containers to and from deepsea; ports/vessels.
FOB Free On Board: “Free On Board” means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel, and the buyer bears all costs from that moment onwards.
Freight: The amount of money payable for the carriage of goods. Sometimes erroneously; used to describe the goods which are more correctly described as “ cargo” in marine; transportation.
GA: General Average.
Groupage: Consolidation of several LCL consignments into a container.
H/L: Heavy Lift.
House or Door: A movemnt starting or finishing at the customer’s premisee. Thus, “House/House”; or “Door/Door” starts at the shippers premises and ends at the consignee’s; premises.
International commercial terms: The Incoterms® rules have become an essential part of the daily language of trade. They have been incorporated in contracts for the sale of goods worldwide and provide rules and guidance to importers, exporters, lawyers, transporters, insurers and students of international trade.
INCOTERMS 2010
RULES FOR ANY MODE OR MODES OF TRANSPORT: EXW Ex Works ,FCA Free Carrier ,CPT Carriage Paid To ,CIP Carriage And Insurance Paid To ,DAT Delivered At Terminal ,DAP Delivered At Place ,DDP Delivered Duty Paid
RULES FOR SEA AND INLAND WATERWAY TRANSPORT: FAS Free Alongside Ship ,FOB Free On Board ,CFR Cost and Freight ,CIF Cost, Insurance and Freight
IMDG Code: International Maritime Dangerous Goods Code- con – tains the IMO; recommendations for the carriage of dangerous goods by sea.
IMO: International Maritime Organisation- a UN body charged with the duty of making; safety and anti-pollution conventions and recommendations concerning sea; transport.
ISO: International Standards Organisation- a body responsible for, inter alia,Setting; Standards for inter alia,setting standards for container construction.
INCOTERMS: International Rules for the Interpretation of Trade Termsat current comprising 13; terms (listed above) for foreign trade contracts, compiled by ICC.
L/C: Letter of Credit- a document in which the terms of documentary credit transactions; are set out.
LCL: Less than container Load- when a parcel is too small to fill a container which is; grouped by the carrier at a CFS with other compatible goods for the same; destination. “ LCL door/ LCL depot” is effected when the carrier collects the cargo; from the shipper, takes it to his depot for groupage and delivers to the import; depot.
L/I: Letter of Indemnity- sometimes also called a letter of guarantee, it allows the; consignee to take delivery of his goods without the surrendering of the original bill; of lading which has been delayed or become lost.
LO-LO: Lift On Lift Off- a containership onto which and from which containers are lifted by; crane (as opposed to RoRo).
Liner: A vessel plying a regular pattern of a trade on a defined route under a published; sailing schedule.
Liner Terms: Freight payable which includes the cost of loading and unloading.
MMO: Multi Modal Operator.
Manifest: List of goods or passengers on a vessel.
M/R: Mate’s Receipt- a receipt given to the party that delivers the cargo to the ship.The; M\R states quantity and condition of the cargo and where it was stowed.
Notify Party: The party to whom the ANF (see above) is sent.
O/H: Overheight- a container with goods protruding above the of the corner posts.; Tidewater Terminal Container Page 6 of 8; http://mytcts.com/CustomerServices/Glossary/Glossary.htm#ANF 1/6/2010
OOG: Out of Gauge- goods whose dimensions exceed those of the container in which they; are packed.
O/W: Overwidth – a container with goods portuding beyond the sides of the container/flat; rack onto which they are packed.
POA: Place of Acceptance – the place where the goods are received for shipment or; transit and where the carrier’s liability commences. Now more usually called POR; (see below).
POD: Place of Delivery- the place where the goods are delivered and carrier’s liability; ends. It can also mean proof of Delivery and then it means a signed receipt; acknowledging delivery.
Port or Pier: A movemnt starting or finishing at he vessel’s side, as in the times of break bulk; cargoes, so that the inland movement prior and subsequent to sea carriage is; effected by the merchant. It is possible to encounter movements involving more; than one of these mentioned. Thus,”door(or house)/ depot” would describe a; movement starting at the shipper’s premises and ending at the CFS. Once the; details in respect of LCL or FCL are added to the bill of lading a full picture of the; type of movement contemplated by the shippers is possible.
RN: Release Note- a receipt signed by the customer with the acknowledgement of; delivery of his goods.
Ro-Ro: A ferry type vessel, onto which goods and containers can be driven usually via a; ramp.
Reefer: A refrigerated vessel or container.
SDR: Special Drawing Rights- means of a basket of currencies designed to “iron out”; currency exhange fluctuations in international valuations, now Used to express the; limitation under the Hague-Visby Relus and the MSA Limitation Convention.
Shipper: The person who tenders the goods for thecarriage, not to be confused with the; party issuing the bill of lading or the vessel’s operator who is the carrier.
Slot: The space on board a vessel occupied by a container.
Stuffing/Stripping: The action performed packing or unpacking a container.
TEU: Twenty-Foot Equivalent Unit – i.e. 1×20ft= 1 TEU, 1×40ft = 2 TEU.
THC: Terminal Handling Charge- a charge for handling container at the ocen terminals.
TIR: Transport International Routiers- a system involving the issue of a carnet to road; hauliers which allows loaded vehicles to cross national frontiers with minimum; customs formalities.
Tariff: The terms and conditions and scale of charges- in the US trade the tariff must be; notified in advance to the FMC (see above)
Terminal: The port or deot at which containers are loaded or unloaded onto or from container; vessels, railways or trucks.
Waybill: A bill of lading that acts as receipt for the goods and evidence of the contract of; carriage. A wabill is a bill of lading that is not a document and can thus be defined; as follows :; a waybill is a receipt for goods;; a waybill is evidence of the contract;; a waybill is a non-negotiable document.; Under a waybill delivery will be effected to a nominated consignee upon proof of identity.; As a title it presents a personal contract between the shipper and the carrier only. There is; (at present) no mandatory law or convention and the parties have absolute freedom of

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