Page 10 - Turners Shipping Glossary of Terms

GLOSSARY OF SHIPPING TERMS

TERM DESCRIPTION

Harmonized Commodity A multi-purpose international code for classifying goods moving in international trade under
Description and Coding a single commodity code. This code is a hierarchically structured product nomenclature
System containing approximately 5,000 headings and subheadings describing the articles moving
in international trade. An internationally recognised system of coding cargo for trade
HAWB purpose so as to decide the applicable tariff code/ HS code . This will determine the
HBL rate of duty applicable on the importation of the commodity. The expression is commonly
Heavy Lift used to refer to the international Convention of the Harmonized Commodity Description
Heavy-Lift Charge and Coding System, adopted by the Customs Co-operation Council in 1988. ngs and
High Cube subheadings describing the articles moving in international trade.
House B/L
House-to-House (H/H) House Airway Bill - this is a document issued by the Freight Forwarder, acting as a
House-to-Pier (H/P) carrier, clearly showing the contract of affreightment between the freight forwarder and
Hub the exporter.
I.C.C.
I.M.C.O. House Bill of Lading (the Bill of Lading issued by a Freight Forwarder), acting as a carrier,
IATA Cargo Agent clearly showing the contract of affreightment between forwarder and exporter.
IMDG Code
Import License Articles too heavy to be lifted by a ship's tackle.

Import Permit A charge made for lifting articles too heavy to be lifted by a ship's tackle.

Incoterms Any container which exceeds 8ft. 6in. in height, usually 9ft. 6in.

Insurance Bill of lading issued by forwarder.

Insurance Certificate See CY/CY.

See CY/CFS.

A facility in the infrastructure where transport-related services (collection & distribution)
and commercial activities are performed, and it focuses on logistics-centre management,
facilities management, maintenance and supply chain.

International Chamber of Commerce - A Paris-based international forum that aims to
facilitate trade.

International Maritime Consultative Organization. A forum in which most major maritime
nations participate and through which recommendations for the carriage of dangerous
goods, bulk commodities and maritime regulations become internationally acceptable.

A freight forwarder licensed to handle air cargo. They are registered with the International
Air Transport Association (IATA).

International Maritime Dangerous Goods Code - The IMO (UN) recommendations for the
carriage of dangerous goods by sea.

A document required and issued by some national governments authorizing the importation
of goods into their individual countries.

Usually required for items that might affect the public health, morals, animal life, vegetation,
etc. Examples include foodstuffs, feedstuffs, pharmaceuticals (human and veterinary),
medical equipment, seeds, plants and various written material (including tapes, cassettes,
movies, TV tapes or TV movies). In some countries an import permit is the same as an
import license.

Incoterms are a set of uniform rules codifying the interpretation of trade terms defining
the rights and obligation of both buyer and seller in an international transaction, thereby
enabling an otherwise complex basis for a sale contract to be accomplished in three
letters. Incoterms are drafted by the International Chamber of Commerce.

An insurance policy or certificate normally covers the shipments of merchandise from the
time they leave the warehouse at the shipping point until they reach the destination point
named in the policy or certificate.

Where the seller provides ocean marine insurance, it is necessary to furnish insurance
certificates, usually in duplicate. The certificates are negotiable documents and must be
endorsed before submitting them to the bank. The seller can arrange to obtain an open
cargo policy that the freight forwarder maintains.

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