Glossary Of Shipping Terms 2012 Pdf

The airline or forwarder will charge whichever is the greater of the actual weight and volumetric weight. Advisory Capacity A term indicating that a shipper's agent or representative is not empowered to make definite decisions or adjustment without the approval of the group or individual represented. The seller must also turn over documents necessary, to obtain the goods from the carrier or to assert claim against an insurer to the buyer. This term may be used for any mode of transport, including multi-modal transport. See also Letter of Credit.

Shipping Marks Specific markings on packages to identify them apart from other packages and to identify them on the relevant documents. Sometimes referred to as liner shipping. American Bureau of Shipping A.

Glossary of shipping terms 2012 pdfGlossary of shipping terms 2012 pdfGlossary of shipping terms 2012 pdf

The hull section of a vessel above waterline, the visible part of a ship. It is very important during rough weather and at night. This can be either a true bearing, using the geographical or true North, or magnetic bearing, using magnetic North. Anchor Detail A team of men who handle ground tackle when the ship is anchoring or getting underway.

Incoterms also formally defined delivery. The risk and the cost is not always the same for Incoterms. Amendment A written notice of a change in the terms of a letter of credit. The seller delivers the goods, cleared for export, handbook of natural language processing second edition pdf at a named place possibly including the seller's own premises.

Reefer Colloquial for a refrigerated container. By the side of a ship or pier. Secondly, most jurisdictions require companies to provide proof of export for tax purposes.

Where goods are delivered ex ship, the passing of risk does not occur until the ship has arrived at the named port of destination and the goods made available for unloading to the buyer. Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays all costs in bringing the goods to the destination including import duties and taxes. This has to be agreed to by seller and buyer, however. Admiral This is a senior naval officer of Flag rank.

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This is a special pennant flown to indicate the absence of a commanding officer, admiral, his chief of staff, or officer whose flag is flying division, squadron, or flotilla commander. The amendment becomes an integral part of the original letter of credit. Arbitration Clause A standard clause to be included in the contracts of exporters and importers, as suggested by the American Arbitration Association.

Apparent Wind The combination of the true wind and the headwind caused by the boat's forward motion. For more information see Marine Cargo Insurance. Affiliate A company that controls, or is controlled by another company, or is one of two or more commonly controlled companies. Act of Man In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo. White light displayed by a ship at anchor.

The date on which goods or a means of transport is due to arrive at the delivery site of the transport. Tenor The period of time before a bill of exchange falls due for payment. Term Draft A bill of exchange drawn for a period other than at sight or on demand.

Glossary of shipping terms 2012 pdf

Azimuth Circle An instrument used to take bearings of celestial objects. An instrument employed for ascertaining the position of the sun with respect to magnetic north. Drawee's act in receiving a draft and thus entering into the obligation to pay its value at maturity. It can also be used as an offer to sell goods.

The value of a shipment agreed upon in order to secure a specific freight shipment. This term may be used for all modes of transport. Need not always be the buyer, and in some countries will be the buyer's bank.

U.S. Sea freight Calculator. Glossary of Shipping Terms

Above-water hull The hull section of a vessel above waterline, the visible part of a ship. The seller delivers when the goods are placed alongside the buyer's vessel at the named port of shipment. The bearing of an object in relation to North. Incoterms A 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. The carrier line appoints the port agent and defines the specific duties and areas of responsibility of that agent.

Shipping Glossary of Terms

It states that any controversy or claim will be settled by arbitration in accordance with the rules of the American Arbitration Association. In most cases, the freight forwarder will assume the legal liabilities of acting as a carrier.

The ambient temperature of a container is the atmospheric temperature to which it is exposed. Anchor Chain or Anchor Cable The chain connecting the ship to the anchor. Admiralty Law Admiralty law also referred to as maritime law is a distinct body of law which governs maritime questions and offences. Risk transfers to buyer when the goods have been loaded on board the ship in the country of Export. In other projects Wikimedia Commons.

Gross Weight The total weight of a shipment of goods, including their packaging such as crates, pallets etc. The Shipper is responsible for origin costs including export clearance and freight costs for carriage to named port. Please enter your email address below and we will send you an email containing a link which will allow you to edit your preferences. This term is for land transport only.

This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment. The buyer arranges for customs clearance and pays for transportation from the frontier to his factory.