The land between the two ports is the “land bridge.” This is similar in effect to DDP. They are trading vessels primarily used to carry heavy items, like fruit, fresh water, or merchandise. DDU Delivered Duty Unpaid (named place of destination) - IncotermsThe seller fulfills his obligation to deliver when the goods have been made available at an agreed point at the named place in the country of importation. In the international ocean freight terminology, the word “Free” means “Not included”. TransshipmentGoods are transferred from one ship to another at an intermediate port. The buyer is responsible for customs clearance, and if he fails to do this, he is responsible for the consequences. FIS Free into Store - IncotermsAn unofficial trade term indicating that the seller's price includes all costs up to delivery to the buyer. TareThe weight of packaging or a container without the goods. It can be helpful to understand what these are when importing and exporting. What is a Forwarding Agent for International Freight? Packing ListA document which details the contents, and often dimensions and weight, of each package or container. Cost, Insurance and Freight, named port of destination (This term can be used for vessel shipments only.) This is probably the most commonly misused term in international trade. An agreement made by an ocean carrier to provide cargo space on a vessel at a specified time and for a specified price to accommodate an exporter or importer. Gross WeightThe total weight of a shipment of goods, including their packaging such as crates, pallets etc. How to Get a Job in Transportation or Logistics. Pre-paymentThe buyer pays the seller for the goods prior to shipment. This term very specifically requires the carriage of the goods in a "seagoing vessel". Air warmed by the container cargo delivered to the evaporator. Incoterms are organized by modes of transport, either any mode or modes of transport and sea and inland waterway transport terms. FAKFreight All Kinds, as a general description of the goods on a master B/L, covered under the one freight rate regardless of the nature of the individual goods. Consists of a base and two ends of the same dimensions as an ISO container. How does the online freight calculator work? Signed by the carrier, whether a shipping line or a freight forwarder, it serves as a receipt to the consignor for the goods, as evidence of the contract of transport containing the conditions of transport, and as a document of title by which possession of the goods can be transferred. Value for DutyThe value of an import declared to the customs upon which customs duty will be calculated. Abbreviations they use include EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid To), CIP (Carriage and Insurance Paid To), and more. Electronic Logging Devices - The New ELD Requirement. Term DraftA bill of exchange drawn for a period other than at sight or on demand. Although the seller agrees to pay all costs and freight to the port of destination, his responsibility for delivery ends when the goods have been delivered on board the overseas vessel at the port of shipment. This fee is payable to a shipping line for receiving a full container load, storing it, and delivering it. This is not meant to be an A term used in marine transportation referring to the time it takes between arrival of a ship and its departure. They include New York/New Jersey, Savannah, Virginia, and more. The following summary provides an overview and description of freight modes of transportation found in Michigan, including definitions and terminology that are commonly used in the freight industry. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. It is issued by the carrier, whether an airline or a freight forwarder, as a non-negotiable document serving as a receipt to the consignor for the goods, and containing the conditions of transport. Insurance CertificateA certificate issued by the insurance underwriter giving details of a particular transaction which is held insured under an insurance policy. CAF: Currency Adjustment Factor – A charge that is expressed as a percentage and applied to the base rate to account for currency fluctuations. It can also be used as an offer to sell goods. Ullage. Use shared truckload when your freight is: ISPS: International Security Port Surcharge – These are for security of both your container and the vessel while they are at the port. CAFCurrency Adjustment Factor - an adjustment to shipping companies' freight rates to take into account the effect over time of fluctuations in currency exchange rates. Demurrage and Detention Fees – What’s the Difference and How Can You Avoid Them? CarnetA document, normally issued by a Chamber of Commerce which is a member of the International Chamber of Commerce (ICC) to enable the holder to temporarily take merchandise into certain countries, as samples or for display purposes, without the need to pay import duty or pay a bond for the duty. When you see an ocean container that says Maersk, Evergreen, OOCL, etc. Tips to make your tradeshow freight shipping go smoothly, Seven Factors Affecting Freight Transportation Today. FAS Free Alongside Ship (named port of shipment) - IncotermsThe seller fulfills his obligation to deliver when the goods are placed alongside the vessel at the named port of shipment. They tell the parties what to do with respect to carriage of the goods from buyer to seller, and export & import clearance. Ocean Freight: OF (the money due for the carriage of goods) Bunker: BUC (cost for the fuel used by the vessel during the voyage) Arbitrary: Charge to cover the cost of a feeder vessel to get the container to the main port; Seasonal Charges: Peak Season Surcharge: PSS; Winter Surcharge: For example, it is applicable during winter season to ports in Russia The seller is responsible to clear the goods for export. In most cases, the freight forwarder will assume the legal liabilities of acting as a carrier. EXW Ex Works (named place) - IncotermsThe seller's only responsibility is to make the goods available at his premises, (ie works or factory). (See also Letter of Credit). What Costs are Included in a Shipping Quote? Pro Forma InvoiceA sample invoice issued by the exporter before shipment, which the importer may require to arrange import approvals or apply for a letter of credit. See also Letter of Credit and UCP500). 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