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General Shipping Information

Commonly Used International Trade Terms

Commonly Used International Trade Terms

BILL OF LADING

A document, issued by a carrier to a shipper, that serves a threefold purpose:

  1. A receipt for the goods delivered to the carrier for shipment
  2. A definition of the contract of carriage of the goods from the port of shipment;
  3. Evidence of title to the relative goods.

 

C & F

Quoted price includes cost of goods and freight

 

CFS (container freight station)

At discharge ports, the term CFS means the bonded location designated by carriers in the port area for unpacking and delivery of cargo.

 

CY (Container yard)

the term CY means the location designated by carrier in the port terminal area for receiving, assembling, holding, storing and delivering containers, and where containers may be picked up by shippers or redelivered by consignees.

 

C & I

Quoted price includes cost of goods and insurance.

 

C.I.F.

Quoted price includes cost of goods, insurance and freight.

 

Demurrage

a penalty for exceeding free time allowed for loading or unloading at a pier or freight terminal. Also a charge for undue detention of transportation equipment or carriers in port while loading or unloading.

 

F.C.L.

Full container load, full car load

 

F.O.B. (free on board)

quoted price includes the cost of loading goods into transport vessels at the specified place.

 

FREE TIME

The period of time allowed for the removal or accumulation of cargo before charges become applicable.

 

GENERAL ORDER

Government contract warehouse for the storage of cargoes left unclaimed for ten working days after availability. Unclaimed cargoes are auctioned publicly after one year.

 

IN-BOND

A customs program for inland ports that allow cargo to be moved from first port of entry to and inland customs port where the cargo is arrived and entry documents can be filled for customs clearance.

 

INTERMODAL

Referring to the capacity to go from ship to train to truck, or the like, the adjective generally refers to Containerized shipping or the capacity to handle same.

 

LTL

Less than a truckload.

 

WEIGHT, LEGAL

Net weight of goods, plus inside packing.