Airwaybill

Document showing details of goods, routing  and consignment for Air shipments

Average

See General Average

AWB

See “Airwaybill”

B/L

See Bill of Lading

BAF

Surcharge imposed when ships fuel costs rise

Bill of Lading

Formal document having title of the goods shown on the face and showing terms of carriage.  Also shows details of carriage and to whom goods are consigned.  Can be issued in negotiable and non-negotiable forms

Bond

Surety put up to customs allowing goods to be removed from port areas to other secure locations.

Bonded Entry

Customs entry giving details of bonded warehouse to which goods will be removed without payment of monies to customs.

Bonded Warehouse

Warehouse under indirect customs control.  Warehousekeeper puts up a bond to customs and is liable for any duties and other monies due to customs in the event goods cannot be accounted for.

Break Bulk

Cargo, other than bulk cargo, not shipped in containers

Bunker Adjustment Factor

See BAF

C&F

Cost & Freight – see FAQ

CAA

Civil Aviation Authority (UK)

CAF

Currency surcharge imposed when US$ rate of exchange becomes unfavourable to shipowners.

Carrier

Company involved in the physical movement of goods

Cbm

Cubic Metre

Chargeable weight

Usually Airfreight.  Volume cargo will be charged per kilo of gross weight unless volume to weight ratio is greater than 6 cbm = 1 Kg, in which case it is charged per 6/1000 cbm.

CIF

Cost, Insurance & Freight see FAQ

Clean Signature

Endorsement without comment signifying that no damage or other discrepancy has been noted.

Consignee

Party to whom goods are consigned

Currency Adjustment Factor

See CAF

Devanning

Removal of cargo from a container.

E.T.A

Estimated Time of Arrival

Endorsement

Qualification added to documents to signify transfer of said document or to note some discrepancy

Ex Works

See FAQ

FCL

Full Container Load.

Feeder Service

Original vessel taking goods to main port where they are transferred to vessel undertaking the major part of the voyage.

FOB

See FAQ

Free Circulation

Goods of EU origin or Goods from outside the EU which have cleared customs and on which monies due to customs have been paid.

Groupage

Collection of small shipments (LCL) loaded in container and shipped by forwarder to their overseas partner as FCL.

HAWB

Airwaybill issued by agent who is not the actual carrier

IATA

International Air Transport Association

L/C

Letter of Credit

LCL

Less than a container load

MAWB

Airwaybill issued by carrying airline.  May cover goods shown on more than one HAWB

NOA

Notice of arrival

Notify Party

Person of company to whom the carrier should send their notice of arrival

POD

Proof of delivery

Shipper

Party sending the goods

Stuffing

Loading cargo into a container.

Terminal

Place where vessels discharge within port area.  Can also be a warehouse where LCL cargo is stuffed or unstuffed.

TEU

Twenty foot equivalent unit.

THC

Terminal Handling Charge

VATOS

Usually applied to rates or quotations meaning “Variable at time of shipment”