International Shipping 101 - Commonly Used Shipping Terms (A-D)

Jun-17-2011 | by: admin
We know us shipping types like to throw around a lot of lingo that can sometimes get confusing, so to make your life a little easier, we thought we'd explain some of the most commonly used shipping terms. Following are some of those terms, beginning with letters A through D: Agent – One who negotiates contracts or acts in the legal capacity of another party. Air Cargo – Any property carried, or to be carried, in an aircraft, excluding passenger bags. Airway Bill – Also called an air consignment note. A bill of lading issued by the airline acknowledging receipt of merchandise, indicating conditions of cartage and issued only in non-negotiable form. Arrival Notice – A document issued by railroads, airlines and maritime services identifying that the shipping is sent to the consignee or their agent and informing consignee/agent of the cargo’s arrival. ATA Carnet – An International Customs document issued by authorized Chambers of Commerce allowing temporary admission of goods in many foreign countries without the need for bonds, deposits/guarantees, duty and Customs formalities. Bank Guarantee Cash Deposit – Payable by the exhibitor to the forwarder, the Customs agent or official authorities in place of a temporary import bond to ensure the amount requested is the minimum amount of import duties and taxes which would be paid in case of final import. Bill of Lading (BOL)– A contract between a shipper and a carrier providing proof that the merchandise was transferred from the shipper to the consignee and that the carrier has assumed responsibility for the cargo until it is delivered. Bonded Warehouse – A warehouse that is approved by Customs into which goods that have not been cleared can be placed. Cartage Agent – A Ground service operator who provides pickup and delivery in areas not served directly by an air carrier. Certificate of Origin – A document certifying the origin of goods. CIF – Cost plus insurance plus freight = CIF value. A pricing term that indicates the cost of goods, insurance and freight are included to establish CIF value. Commercial Invoice – An invoice required that is to be presented to Customs representing one shipment of merchandise by one consignor to one consignee clearly identifying the product for classification and appraisement purposes. Concealed Damage – Damage to merchandise that is not discovered until the shipment is unpacked. Consignee – A party to whom goods are delivered. Consolidation – A combination of more than one shipment going to the same destination, often with more than one consignee or shipper. Container Detention – A charge which is assessed when the container is removed from the carrier’s control but is not returned within the allowable free time. Customhouse Broker (US) – A person or firm that is licensed by the Treasury Department engaged in entering and clearing goods through Customs. Customs – A government authority that is designated to regulate the flow of goods to and from a country and to collect duties levied by a country on imports and/or exports. The term also applies to the procedures involved in such collection. Dangerous Goods – Articles or substances that are capable of posing a significant risk to health, safety or property when it is transported and which are classified according to the most current editions of ICAO Technical Instructions for the Safe Transport of Dangerous Goods and the IATA Dangerous Goods Regulations. Declared Value (Cartage) – The value of goods that is declared to the carrier by the shipper for the purposes of determining charges or establishing the limit of carrier’s liability for loss, damage or delay. Dock Receipt – A receipt given for a shipment received or delivered at a pier. When delivery of a foreign shipment is completed, the dock receipt is surrendered to the vessel operator or his agent and serves as the basis for the preparation of the Ocean Bill of Lading. Duties – The sum of monies that is assessed by a country’s fiscal authorities to discourage imports. Stayed tuned to our blog for more "International Shipping 101" posts coming soon. And if you have any shipping questions or if there's anything you'd like to see featured on our blog, don't forget to leave a comment and let us know. We'll be sure to answer your questions in one of our next blog posts!