Page 10 - Turners Shipping Glossary of Terms
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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.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.
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.  Page 10  “Trusted for over 120 Years”
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