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The following are definitions of some frequently used shipping terms:
A person authorized to transact business for and in the name of another person or company. Types of agent are:
(2) commission merchants,
(3) resident buyers,
(4) sales agents,
5) manufacturer's representatives.
A notification by carrier of ship's arrival to the consignee, the "Notify Party," and - when applicable - the "Also Notify Party." These parties in interest are listed in blocks 3, 4 and 10, respectively, of the Bill of Lading.
A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate.
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.
A B/L wherein the paying customer has contracted with the carrier that shipper or consignee information is not given.
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.
A container with a discharge hatch in the front wall; allows bulk commodities to be carried.
Abbreviation for "Currency Adjustment Factor." A charge, expressed as a percentage of a base rate, that is applied to compensate ocean carriers of currency fluctuations.
A person or company to whom commodities are shipped.
A symbol placed on packages for identification purposes; generally a triangle,square, circle, etc. with letters and/or numbers and port of discharge.
(1) A stock of merchandise advanced to a dealer and located at his place of business, but with title remaining in the source of supply.
(2) A shipment of goods to a consignee.
A person or company shown on the bill of lading as the shipper.
The latest time cargo may be delivered to a terminal for loading to a scheduled train or ship.