The total price to move cargo from origin to destination, inclusive of all charges.
Abbreviation for “Bill of Lading.”
Entity to whom money is payable – The entity for whom a letter of credit is issued – The seller and the drawer of a draft.
Bill of Lading (B/L)
A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.
Not in packages or containers; shipped loose in the hold of a ship without mark and count.” Grain, coal and sulfur are usually bulk freight.
Obsolete, although heavily used, term of sale meaning “cargo and freight” whereby Seller pays for cost of goods and freight charges up to destination port. In July, 1990 the International Chamber of Commerce replaced C&F with CFR.
CIF (Named Port)
Abbreviation for “Cost, Insurance, Freight.” (Named Port) Same as C&F or CFR except seller also provides insurance to named destination.
A person or company to whom commodities are shipped.
A person or company shown on the bill of lading as the shipper.
Cargo that is not liquid and normally does not require temperature control.
Abbreviation for “Electronic Data Interface.” Generic term for transmission of transactional data between computer systems. EDI is typically via a batched transmission, usually conforming to consistent standards.
Abbreviation for “Full Container Load.”
Abbreviation for “Forty–Foot Equivalent Units.”
Free In and Out (FIO)
Cost of loading and unloading a vessel is borne by the charterer/shipper.
Free on Board (FOB)
Shipped under a rate that includes costs of delivery to and the loading onto a carrier at a specified point.
Entire weight of goods, packaging and freight car or container, ready for shipment.
Harmonized System of Codes (HS)
An international goods classification system for describing cargo in international trade under a single commodity–coding scheme.
International Maritime Consultative Organization.
International Maritime Dangerous Goods Code.
The recognized abbreviation for the International Chamber of Commerce Terms of Sale.
Abbreviation for “Letter of Credit.” A document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time.
Abbreviation for “Less than Container Load.”