The decision given by an arbitrator, to whom a matter in dispute has been referred, an arbitrator states only the effect of his decision, without reasons – thus differing from a judge, who usually stated the grounds of his judgement.
b.m.
Board measure (timber)
B/L
Bill of Lading
B/S
Bill of Sale
B/s
Bags, Bales
B/St.
Bill of Sight
BAF
Bunker Adjustment Factor
Bankers’ Indemnity or Guarantee:
A form which may be required in the following circumstances:
By a shipowner to be completed by the consignee and countersigned by the consignee’s bank, when release for goods is required without production of the Bill of Lading (e.g. if the B/L has been lost).
When a clean B/L is called for on the Documentary Credit and the shipowner, for various reasons, wished to clause the B/L.
By the Chamber of Commerce and Industry when issuing an ATA Carnet for goods to be temporarily exported from Australia.
Basic Service Charges (BSC):
Amount arrived at by the multiplication of freight in tonnes, but the Basic Service Rate (BSR)
Basic Service Rate (BSR):
Costs of ocean liner freight, wharfage and other port charges (at both port of departure and port of entry)
Beaufort Scale:
A windscale and sea disturbance table by which mariners grade the force of wind and height of waves, thus communicating the general condition of the sea to others by the use of a wind force number.
Bill of Exchange:
An unconditional order in writing, addressed by one person or firm to another, signed by the person giving it, requiring the person to whom it was addressed to pay on demand a certain sum to or to the order of a specified person or to a bearer.
Bill of Lading:
A document that is evidence of title to the goods described on it, and is contract between shipper and shipowner. Issued by the carrier of the goods and acknowledges receipt for cargo received on board.
Bls.
Bales, Barrels
Bonded Goods:
Imported goods deposited in a Government warehouse until duty is paid.
Break Bulk Cargo:
An assembled variety of shipments in a vessel, or one hold of a vessel, to be sorted (disseminated) after discharge, the opposite to bulk cargo where one shipment occupies the hold, or the ship alone.
Broker:
An agent employed (at a customary or agreed rate of commission or remuneration) to buy or sell goods, merchandise or marketable securities. Or to negotiate insurance, freight rates or other matters, for a principle; the sales of transactions being negotiated not in his own name but in that of the principal.
BSRA
Basic Service Rate Additional
BThU
British Thermal Unit
Bulkhead:
Front wall of container.
Vertical separation between the holds of a ship (now extended to cover all vertical panels).
Bunker Adjustment Factor (BAF):
Surcharge, either as an addition or subtraction from the total freight rate, according to variation in the cost of ship fuel oil.
C&D
Collected and delivered
C.T.O.:
Container Terminal Operator.
C/-
Case
C/D
Commercial Dock, Consular Declaration
C/V
Certificate of Value
C/VO
Certificate of Value and origin
Cabotage:
Coastal navigation, also used for reservation of transport within a country to its own shipping.
CAD
Cash against documents
CAF
Currency adjustment factor
Canc.
Cancelled
Carnet:
A temporary exportation/importation customs cleared document issued by Chambers of Commerce.
Carriage of Goods by Sea Act 1991:
Act of Commonwealth parliament which came into force in 1991, repealing the Sea Carriage of Goods Act 1924 and given force to the Hague Rules as amended by the Visby and SDR (Special Drawing Rights) Protocols for export of goods by sea from Australia. The Act also makes provision for entry into force of the Hamburg Rules of a date to be proclaimed
Carrier’s Lien:
The right to retain possession of goods pending payment of overdue freight charges.
Cash against documents (D/P):
Full shipping documents are sent to a bank or an agent at the port of destination with instruction that they are to be handed over to the consignee only in exchange for the sum due.
CB
Cash Book
CBM
Cubic Measurement
cc
Cubic Centimetre(s)
CCY
Convertible currency
Cellular Vessel:
Ship specialised for container transport, the holds have vertical guides into which containers are lowered to form secure stacks restrained at all four corners.
Certificate of Origin (CO):
A document to prove the place of growth, production or manufacture of goods specified thereon.
Cf Carried forward, Cubic feet
CFR
Cost and freight
CFRC
Cost, freight and commission
CFS
Container Freight Station
cft.
Cubic feet
Charter-party:
An agreement wherein the shipowner hires his vessel to the charterer subject to certain conditions.
Chq.
Cheque
CIF
Cost, insurance and freight
Clause Paramount:
Clause in Bill of Lading stating that the Hague Rules are amended by the Visby/SDR Protocol apply to the contract of affreightment as per the Carriage of Goods by Sea Act 1991.
Clean Bill of Lading:
One in which there is nothing to qualify the admission that the goods are shipped in good order and condition.
Clip-on-Unit (COU):
A separate refrigeration unit which can be clipped on that an insulated container.
cm
Centimetre(s)
cm2
Square centimetre(s)
cm3
Cubic centimetre(s)
COD
Cash On Delivery
CMR
Customs Management Re Engineering
Combined Transport:
Means the carriage of goods by at least two different modes of transport, from a place at which the goods are taken in charge situated in one country to a place designated for delivery situated in a different country.
Comite Maritime International (CMI):
The international agency of national maritime law associations, authors of the Hague Rules
Comite Maritime International (CMI):
The international agency of national maritime law associations, authors of the Hague Rules
Commercial Bills:
A document which provides details of the contract of sale between buyer and seller.
Common Carrier:
One who carries any type of goods, other than a carrier of special goods.
Completely Knocked Down (CKD):
i.e. Cargo completely unassembled and packed into cases. Part knocked down (PKD) i.e. cargo partly assembled and packed into cases.
Conference Ship:
A ship operated by a signatory to a shipping conference agreement.
Consignee:
A party or person to whom the goods are to be delivered.
Consignor
The party or person that presents the goods to be shipped
Consolidator:
A transport contractor, carrier, or forwarder who undertakes the transportation of small shipments (see LCL) in groupage. The consolidator assembles such LCL shipments in a container which will be stripped by his receiving agent in the destination ares.
Consular Invoice:
An invoice, prepared on a special form and legalised by the Consul of the importing country, usually required by the Customs of that country to confirm details and origin.
Container Freight Station (CFS):
Other names: consolidation depot; depot; – where LCL cargo is packed or unpacked in/from consolidation containers, Then made available.
Container Ship:
Vessel specially fitted out for carrying containers. The hold consists of wells into which the containers can be lowered and stacked in up to eight layers. Containers may be stowed on deck up to four high on top of any one hatch.
Container Tanks:
Specially constructed cylindrical container for the carriage of bulk liquids, powders or gases, being supported within a frame 8ft x 8ft lattice construction and in lengths 20, 30 and 40 ft with corner castings and normally fitted with a bottom pick-up device.( also
Container Terminal:
Area where large-scale container handling parking and storage facilities are available and used for transfer of containers between at least two different transport media (rail, road, sea, barge, air)
Container Vessels:
Ship designed to carry ISO (International Standards Organisation) containers, in vertical cells within the holds. The container vessel is designed for maximum speed and efficiency, with a minimum of labour necessary for loading and unloading.
Conventional Berth:
Berth suitable for conventional ships, either employing the ship’s own derricks or supplementing with shore-based equipment.
Conventional Vessel:
Ship designed with its own on-board derricks for the loading of goods into the holds.
Cube out:
When the volumetric capacity of the container has been reached in advance of the permitted weight limit.
Cum.
With, Cumulative
Currency Adjustment Factor (CAF):
A charge levied by the ‘Ocean Carrier’ over and above the ocean freight rate to cater for fluctuation over a period in the actual currency exchange rates as compared to those exchange rates set by the conferences as applying to various sailings.
Current Domestic Value (CV):
Price at which the supplier is prepared to supply to any purchaser for home consumption in the country of export and at the date of export, similar goods in the usual wholesale quantities.
CW
Commercial weight
CY
Container Yard
d.w.
Dead Weight
D/A
Deposit account, Days after acceptance
D/N
Debit note
D/O
Delivery Order
D/P
Documents against payment
D/R
Deposit Receipt
DAA
Documents against acceptance
DAF
Delivered at Frontier
DC
Direct Current
DDP
Delivered Duty Paid
DDU
Delivered Duty Unpaid
Ded.
Deductible
Demurrage:
The sum agreed by charter to be paid as damage for delay beyond the stipulated time for loading or discharging. It should be collected daily by the master or agent.
Depot:
Storage building where goods are stored and where containers are packed, or unpacked, before:
Containers are transported to shipping terminals
Goods from contaienrs are transported to importer’s warehouse.
DEQ
Delivered ex Quay
DES
Delivered ex Ship
Detention:
Where demurrage is paid for an agreed number of days, any further delay is termed “detention”.
Devanning:
Removal of contents from a container (sometimes called stripping or discharging).
DFAT
Department of Foreign Affairs and Trade
Dft.
Draft
DIS
Delivered into store
Dis.
Discount
Disbts.
Disbursements
Documentary Credit
A conditional guarantee of payment issued by a bank
Documents of Title:
Documents produced by a consignee as evidence of right to take delivery of goods (e.g. Bill of Lading and Export invoices).
Door-to-Door:
Through transport of containers from consignor to consignee without any discharging or reloading of goods, except possibly at Customs control.
DPV
Duty paid value
DPIE
Department of Primary Industries
Dr.
Debit, Debtor, Drawer
Drafts:
Bank draft or Bill of Exchange. See Bill of Exchange
Drafts:
Bank draft or Bill of Exchange. See Bill of Exchange
Drawback:
A repayment of duty on the exportation of goods previously imported.
Drb
Drawback
DWT
Deadweight tonne
E & OE
Errors and omissions excepted
e.g.
Exempli gratia (for example)
ECN
Export Clearance Number
ECU
European Currency Unit
EDI
Electronic Data Interchange
EDI/EDIFACT
Electronic Data Interchange for Administration, Commerce and Transport
EEC
European Economic Community
EFIC
Export Finance and Insurance Corporation
EFT
Electronic Funds Transfer
EL
Employer’s liability
EMDG
Export Marketing Development Grant Scheme (Austrade)
EOQ
Economic ordering quantity
EPI
Earned premium income
ESCAP
Economic and Social Commission for Asia and the Pacific
Est.
Estimated
ETA
Estimated time of arrival
ETD
Estimated time of departure
EU
European Union
EURATOM
European Atomic Energy Community
Ex.
Excluding (chartering), Out of, Without, Examined, Exchange, Executed
EUR
EURO (European Currency)
Ex.
Excluding (chartering), Out of, Without, Examined, Exchange, Executed
Exd.
Examined
EXW
Ex Works – the price at which the supplier will supply ex his works. It does not include any cartage or delivery.
F & D
Freight and demurrage
F/R
Freight release
FAC
Federal Airports Corporation
Fac
Facultative
FAK
Freight all Kinds
FAKFAO
Food and Agriculture Organisation (U.N.)
FAS
Free alongside ship
FCA
Free carrier
FCL
Full container load
FCL:
The load in a container if the shipper was assured of a separate container exclusively for his cargo.
FCV
Full contract value
Feeder Ship:
Vessel used in short sea trade to serve ports at which deep-sea container ships do not call.
FEU
Forty foot Equivalent Unit (shipping container)
FIATA
International Federation of Freight Forwarders Association
FIS
Free into store
Flash Point:
The temperature at which a liquid produces enough vapour to form an inflammable mixture with air.
Flotsam:
Cargo cast or lost overboard and recoverable by reason of its remaining afloat.
FOB
Free on board
FOC
Free of charge
FOQ
Free on quey
FOR
Free on rail
Forty-foot Unit:
ISO container 40 ft. long by 8ft. by 8ft. 6-in (about 6m long by 2.4m by 2.5m).
Forward Exchange Contract:
A contract between a bank and a customer under which the bank agrees to set the exchange rate now to purchase from or sell to the customer a fixed amount in a foreign currency at a future date.
Forwarding Agent:
Agent who handles all shipping matters for the Importer / Exporter.
Freight Container:
Article of transport equipment of a permanent character designed to facilitate the carriage of goods by one or more means of transport without intermediate rehandling of the goods themselves.
FOT
Free on truck
Freight of all Kinds (FAK):
Denoted container loads, packed by the shipping company, with several or more smaller consignments. Such a container will contain at least three different consignments and at least five different items, with no one item exceeding 6000 kilos.
Freight Forwarder:
A person or company charged, by the shipper, with the responsibility of arranging shipment of goods overseas.
Freight Rate:
The charge for transporting goods.
Frt.
Freight
Fth.
Fathom
Full Container Load (FCL):
A container, generally shipped under a bill of lading, which is packed by the shipper and unpacked by the consignee. Basically, this is just a container (not necessarily full) which is not being shared by more than one shipper.
Fwd
Forward
G/A.
General average
GATT
General Agreement on Tariffs and Trade
GBL
Government Bill of Lading
GCR
General cargo rates
GDP
Gross Domestic Product
Gen
General
General Average Fund:
The total arrived at by adding together general average expenditure and the value of property sacrificed in a general average act, plus costs of its adjustments.
General Average:
A legal principle which traces its origins in ancient maritime law, general average is still part of the admiralty law of most countries. General average requires three elements which are clearly stated by Mr. Justice Grier in Barnard v. Adams: “Ist. A common danger: a danger in which vessel, cargo and crew all participate; a danger imminent and apparently ‘inevitable,’ except by voluntarily incurring the loss of a portion of the whole to save the remainder. “2nd. There must be a voluntary jettison, jactus, or casting away, of some portion of the joint concern for the purpose of avoiding this imminent peril, periculi imminentis evitandi causa, or, in other words, a transfer of the peril from the whole to a particular portion of the whole. “3rd. This attempt to avoid the imminent common peril must be successful”
GMT
Greenwich Mean Time
Godown:
Asian countries terminology for warehouse.
Gr.
Grain, Gross
Gross Tonnage:
This is the volume of the interior of the vessel including all spaces which are permanently closed in (but excluding the double bottom), expressed in tons of cubic fee.
Gross Weight:
Total weight of goods and packing.
GRT
Gross Register Tonnage
GST
Goods and Services Tax
Guar.
Guaranteed
HAWB
House air waybill (issued by freight forwarder covering the individual shipment within a consolidation)
Hbr.
Harbour
HC
High Cubic
HCE
Home consumption Entry (Nature 10) Customs entry fro entering goods to be taken into home consumption
HCV
Home consumption value
Heavy Lift:
Cargo comprising especially heavy pieces which may require:
Special car in loading and unloading
Special equipment for handling
Special care and attention during transit.
HGV
Heavy Goods Vehicle
Hhd.
Hogshead
House Air Waybill:
A special air waybill used for consolidated air freight shipments.
HP
Horse power
HPN
Horse power nominal
HW
High Water
HWD
Heavy weather damage
High water mark
High water mark
gHz
Hertz
IAEA
IAN
IAN
Import Advise Note
IATA
International Air Transport Association
IB
Invoice Book, In bond
IC & C
Invoice cost and charges
ICAO
International Civil Aviation Organisation
ICC
International Chamber of Commerce
ICI
Imperial Chemical Industries
ICS
Institute of Chartered Shipbrokers
ICSU
International Council of Scientific Unions
IDA
International Development Association
IDC
Irrevocable Documentary Credit
IFC
Institute Freight Clauses, International Finance Corporation
A set of rules formulated by the International Chamber of Commerce for the interpretation of responsibilities of each party involved in international trade shipments
Indemnity:
Liability of an insurer for loss under a policy.
Indent:
Instructions for certain goods to be purchased and dispatched, given by an overseas buyer to a confirming house, agent or merchant.
INN
International Nonproprietary Name
Int.
Interest
Integral Unit:
Refrigeration unit, which is built into the reefer (refrigerated container)
Invoice:
A document setting out in detail the goods consigned, marks and number, cost, any charges, and name of consignee.,
IR
Infra-red
ISO
International Standards Organisation
ITC
International Trade Commission
IUPAC
International Union of Pure and Applied Chemistry
J/A
Joint Account
Jetsam:
Cargo or goods, which sank when, jettisoned. The term applies also to such goods when washed ashore.
Jett.
Jettison
Jettison:
The act of throwing cargo and stores overboard in order to save a vessel in peril.
KD
Knocked down
KDC
Knocked down condition
Kg
Kilogram
KHz.
Kilohertz
Km
Kilometre(s)
Knocked Down Condition:
Complete goods dismantled for transit
kW
Kilowatt(s)
L
Litres
L.d.d.
Loss during discharge
L/A
Letter of authority, Landing Account, Lloyd’s Agent
L/C
Letter of credit
Landed Price:
Includes the CIF price, plus the cost of unloading, storage (if necessary); customs duty and any other costs involved in clearing goods for entry into the customer’s country. Equivalent to the DDP price (Delivered Duty Paid – 1990 Incoterms)
Latitude
Latitude
lb
One pound (in weight)
LCL
Less container load
Ldg.
Loading
Less-than-container-load (LCL):
The combining of several consignments, which were too small to fill a container, into one container. There may be several consignees each with a separate bill of lading.
Letter of Credit:
A document authorising payment to the person named, subject to fulfilment of certain specified conditions, on the part of the person authorised to receive the money (e.g. evidence that goods have been shipped). Also known as Documentary Credit.
LI
Letter of indemnity
Liab.
Liability
Lien:
A legal right over goods, to hold them until the claim against the owner has been settled.
LIS
Landed Into Store
Lloyd’s Register of Shipping:
An independent non-profit making Society, controlled by the various sectors of the shipping industries.
