Page 4 - Turners Shipping Glossary of Terms
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GLOSSARY OF SHIPPING TERMS

TERM                       DESCRIPTION
Bonded Freight
Bonded Indemnity           Freight moving under the control of a customs registered transporter, and to be delivered
                           only under stated conditions, by making due declaration and acquittal at final destination.
Bonded Warehouse
                           A certificate filed with a carrier, relieving it from liability to which it would otherwise be
Booking                    subject.
Booking Number
Breakbulk (BB)             Secured Customs registered area in which dutiable goods may be stored without payment
Break-bulk Cargo           of duty. The intention is to delay the payment of duty applicable at the time of importation.
BSRA                       Goods will be stored until such time as a need arises whereby an ex-warehouse entry will
Bulk Freight               be passed and duties and VAT will be accounted for. Such facilities must be licensed with
Bulk-freight Container     Customs and Excise and the goods must be stored for a period no longer than two years.
Bull Rings
Bunker Surcharge           Arrangements with a carrier, often a steamship or airline, for the acceptance and carriage
(BAF, BSC)                 of passengers or freight.
Bunkers
C.A.F.                     A reference number for booking registered. It should be unique without duplication in
C.F.S.                     three years period.
C.O.D.
C.O.G.S.A.                 A term used to describe cargo which cannot be containerised due to its size and/or nature.
Capacity/Weight
Captain's Protest          Goods shipped loose in the vessel’s hold and not in a container.

Carnet                     Basic Service Rate Additional - usually an unpacking charge.

Carrier                    Not in packages or containers; shipped loose in the hold of a ship. Grain, coal and sulphur
Carrier's Lien             are usually bulk freight.
Cash Against Documents
(CAD)                      Refers to a container with a discharge batch in the front wall; allows bulk commodities to
Certificate of Origin      be grasped by loading hatches.

CFR (INCOTERM)             Cargo-securing devices mounted in the floor of containers; allow lashing and securing of
                           cargo.

                           Bunker Adjustment factor (BAF), or Bunker Surcharge (BSC) are surcharges assessed by
                           carrier to freight rates to reflect current cost of bunker.

                           Heavy oil used as fuel for ocean vessel.

                           Currency Adjustment Factor. Percentage by which the rate is either increased or decreased
                           in response to fluctuating exchange rates.

                           See Container Freight Station.

                           Collect (cash) on Delivery; Carried on Docket (pricing); Change of Destination.

                           Carriage of Goods by Sea Act.

                           Total internal container volume (LxWxD) or weight limitation.

                           A document prepared by the captain of a vessel on arriving at port; shows conditions
                           encountered during voyage, generally for the purpose of relieving ship owner of any loss
                           to cargo, and shifting responsibility for reimbursement to the insurance company.

                           The "ATA Carnet" Carnet de passage is an international customs document that permits
                           duty-free temporary import of goods (e.g. commercial samples) for up to one year. The
                           initials "ATA" are an acronym of the French and English words "Admission Temporaire /
                           Temporary Admission".

                           Any individual, company or corporation engaged in transporting goods.

                           Right of carrier to retain property as security for charges.

                           A transaction where full shipping documents are sent to a bank or agent at the destination
                           instructing they are only to be handed over in exchange for full payment by the receiver
                           of the goods.

                           Document certifying the country of origin of goods which is normally issued or signed by
                           a Chamber of Commerce or Embassy.

                           One of 11 INCOTERMS can be used only for sea or inland waterway transport. “Cost
                           and Freight”, means that the seller delivers the goods on board the vessel or procures the
                           goods already so delivered. The risk of loss of or damage to the goods passes when the
                           goods are on board the vessel. The seller must contract for and pay the costs and freight
                           necessary to bring the goods to the named port of destination.

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