GLOSSARY OF TERMS AND ABBREVIATIONS - Magellan …

1 GLOSSARY OF. TERMS AND. ABBREVIATIONS . 1 Magellan Logistics 2015 - GLOSSARY OF TERMS AND ABBREVIATIONS . NUMERICAL. Agent 20'. A person authorized to transact business for Standard Twenty Foot Long Shipping container . and in the name of another person or company. 40'. Allotment Standard Forty Foot Long Shipping container . A term used to describe blocked space by airlines and shipping lines on behalf of 20'HC. forwarders/shippers. Twenty Foot High Cube container . AWB. 40'HC. Airway Bill is a bill of lading which covers both Forty Foot High Cube container . domestic and international flights transporting goods to a specified destination. Technically it 20'GOH. is a non-negotiable instrument of air transport Twenty Foot Goods on Hanger container . which serves as a receipt for the shipper, indicating that the carrier has accepted the 40'GOH. goods listed therein and obligates itself to carry Forty Foot Goods on Hanger container .

2 The consignment to the airport of destination according to specified conditions. 20'RF. Twenty Foot Reefer container . APCA. Australian Port Charge Additional. 40'RF. Forty Foot Reefer container . AQIS. Australian Quarantine Inspection Service. A. 20'NOR. government body protecting Australia from Twenty Foot Non Operating Reefer container . contaminated fauna and flora. Arbitrary A An additional rate charged over an already fixed rate, when freight has to be moved by an additional source of transport from one point, to ACA get to another point. Air Cargo Automation is an electronic reporting system set up by Australian Customs to report on cargo prior to arrival in Australia. Ad Valorem B. According to the value or on the value . BAF. Rates of duty expressed as a percentage of the Bunker Adjustment Factor. Adjusts the freight value of goods are known as ad valorem rates.

3 To reflect current cost of bunkers (fuel for ships). 1 Magellan Logistics 2015 - GLOSSARY OF TERMS AND ABBREVIATIONS . BCN (FCX) Carnet Buyers Consolidation. Full container shipments A customs document for permitting the holder from multiple suppliers for the one consignee. to carry or send merchandise temporarily into certain foreign countries for display, B/L , BOL demonstration or other purposes without paying Bill of Lading acts as a receipt for the cargo and import duties or posting bonds. contains the TERMS of the contract of carriage and is a document of title to the goods. CBM. Cubic Meter calculated as length x width x Bonded Warehouse height. A place of security approved by the custom authorities for the deposit, keeping and securing Certificate of Origin of goods liable to excise duty, without payment A document certifying the country of origin of of this duty.

4 Goods which is issued or signed by a chamber of commerce or embassy. Box A colloquial name for a shipping container . CFR/C&F. Cost and freight. An Incoterm where the seller Break Bulk (Seafreight) includes the cost of transportation in the price Goods shipped loose in a vessel's hold and not for his goods (freight prepaid). Formally known in containers. as C&F. Break Bulk (Airfreight) CFS. For consolidated air freight, it is moved under container Freight Station a place for the one MAWB and each consignment designated packing and unpacking of LCL consignments. to specific consignee or recipient is under on HAWB. When the freight forwarder receives CHIEF. the consolidated cargo from the carrier they Customs handling of Import and Export Freight will break the consolation apart per HAWB then a customs computer system. proceed with the customs clearance along with associated shipping and import documents.

5 CIF. Cost, Insurance and freight. An Incoterm where the seller arranges and pays for the main C. carriage to the port of destination and organizes the insurance cover for the cargo while in transit. CAF CMI. Current adjustment factor adjusts the freight Comite maritime International an international to reflect currency exchange fluctuations. committee of maritime lawyers. CABAF Commercial Invoice Currency and Bunker adjustment factor, a Represents a complete record of a transaction combination of CAF and BAF. between exporter and importer with regard to the goods sold. Also reports the content of the CAN shipment and serves as the basis for all other Customs Authority Number. Number provided documents about the shipment. by customs upon the clearance of export goods. 2 Magellan Logistics 2015 - GLOSSARY OF TERMS AND ABBREVIATIONS . COU Cut Off Date Clip on unit a portable refrigeration unit.

6 The last date for which goods can be accepted for a nominated sailing. Consignment Delivery or merchandise from an exporter (the Consignee (CNEE). consignor) to an agent (the consignee) under The party, to whom a consignment is dispatched, agreement that the agent sell the merchandise having legal title to the goods. for the account of the exporter. The consignor retains title to the goods until sold. The Consignor (CNOR). consignee sells the goods for commission and The sender of the goods. remits the net proceeds to the consignor. Consignment Note Consolidation A document that describes a consignment In order to handle small lots of consignments moving from one point to another, also known efficiently and competitively, freight forwarders as advice or dispatch note or connote. usually put many consignments into one lot then tender to carrier for forwarding.

7 In this case, COD. each consignment will be shipped with one Cash on Delivery full payment for goods on house bill of lading respectively and all of them delivery. will be under one master bill of lading. D. CRN. Customs Register Number is the number allocated by customs to an export, agent or freight forwarder for use when exporting goods DAP. on the same shipment from more than one Delivered at Place - an Incoterm meaning that shipper. the seller is responsible for arranging carriage and for delivering the goods, ready for unloading CT from the arriving conveyance, at the named Combined Transport carriage buy more than place. (An important difference from Delivered one mode of transport under one contract of At Terminal DAT, where the seller is responsible carriage. for unloading.). CY Risk transfers from seller to buyer when the container Yard a collection and distribution goods are available for unloading; so unloading point for FCL Containers.

8 Is at the buyer's risk. Conference The buyer is responsible for import clearance An organisation of a group of shipping lines and any applicable local taxes or import duties. operating in one trade who have agreed to operate a common tariff. DAT. Delivered at Terminal - an Incoterm meaning that Consortium the seller is responsible for arranging carriage A group of Combined Transport' operators who and delivering the goods, unloaded from the agree to rationalize sailing in a trade and carry arriving conveyance, at the named place. each other's cargo. 3 Magellan Logistics 2015 - GLOSSARY OF TERMS AND ABBREVIATIONS . Risk transfers from seller to buyer when the Drawback goods have been unloaded. Repayment of a duty upon re-exportation of goods previously imported. The buyer is responsible for import clearance E. and any applicable local taxes or import duties.

9 Demurrage A charge raised for detaining cargo, containers EHA. or trailers for a longer period than provided for Equipment Handover Agreement . in the tariff. acknowledging the condition of the carrier's equipment when taking over and returning it, DDP incorporating contractual TERMS under which the Delivery Duty Paid an Incoterm meaning the equipment is taken over. seller fulfils his obligation to deliver when the goods have been made available at the named ETA. place in the country of importation. The seller Estimated Time of Arrival indicates the has to bear the risks and costs, including duties, estimation of the date/hour the carrier believes taxes and other charges of delivering the goods the cargo, vessel or container will arrive at a thereto, cleared for importation. nominated point/port. Deconsolidation Point ETD. Place where loose cargo is ungrouped for Estimated Time of Departure indicates the delivery.

10 Estimation of the date/hour the carrier believes the cargo, vessel or container will leave a DO nominated point/port. A document given to the party surrendering the original Bill of Lading authorizing them to take Ex-Works (EXW). delivery of the goods. An Incoterm when the sellers only responsibility is to make the goods available at his premise Documentary Credit for pickup. The basis of international trade by means of which payment is made against surrender of specified documents. Duty F. Is a particular percentage (depending on FAS. commodity) of the FOB value which is paid to Free Alongside Ship - an Incoterm that means the government. The FOB value is the cost of the seller fulfils his obligation to deliver when he the goods plus any other charges to get those has handed over the goods, cleared for export, goods onto a vessel. into the charge of the carrier named by the buyer at the named place or point.