International ocean freight is filled with many such technical terms that easily confuse the occasional and not to mention new importers and exporters unfamiliar with the ins-and-outs of this complex industry. 20+ International Trade acronyms and abbreviations related to International Shipping: BAF – Bunker Adjustment Factor is a surcharge to cover oil price fluctuation. In this infographic, you’ll find 20 of the most common acronyms that all shippers need to know in order to take on the massive industry that is ocean freight. A/C. Delay fees and GRIs have the potential to greatly affect your overall shipping costs. 1 in New Zealand NVOCC - Non-Vessel Operating Common Carrier Acts like a shipping … Many thanks to Kjetil at Rimship for sharing his knowledge and abbreviations with us. ABT. CAF – Currency Adjustment Factor is a surcharge to cover the currency fluctuations – charged still on some of the routes. Get this from a library! The Fairplay book of shipping abbreviations: Acronyms and abbreviations used in shipping and international trade [Kapoor, Peter] on Amazon.com. Sometimes erroneously used to describe the goods, which are more correctly described as “cargo” in marine transportation. What’s the difference between HS and HTS codes? Agency - The right given by an individual, body or firm to another person or company to act on its There was an internal error while serving your request. An abbreviation used in some international sales contracts, when the selling price includes all “Costs, Insurance and Freight” for the goods sold. Any act which could not have been prevented by humam care and forethought. International Trade acronyms and abbreviations in Shipping. Buy Dictionary of Shipping: International Business Trade Terms and Abbreviations by Alan E. Branch online at Alibris. ADCOM. used. This implies: 1. From IMO 2020 and ELD to GRI and EEI, one way or another, you’ve probably heard it all. HS (Harmonized System): HS codes are six-digit codes that classify goods according to their nature to determine the amount of taxes and duties that need to be paid. The refusal of merchandise by the designated consignee. Various LTL cargoes are grouped and transported together to lower transportation costs. The Fairplay book of shipping abbreviations : acronyms and abbreviations used in shipping and international trade. Popularly used abbreviations in banking, commonly using tax abbreviations and othe. COO – Certificate Of Origin – issued by the local Chamber Of Commerce … Merchandise shipped under FCL does not share container space with other merchandise. LTL (Less than Trucking Load): Similar to LCL but for land transportation. You may be able to put them into context but… just how well do you understand these shipping acronyms? GRI (General Rate Increase): Also known as GRR (General Rate Restoration), a GRI is an increase in maritime freight rates applied by shipping lines when prices are low. Familiarize yourself with them right from the beginning so you get accustomed to seeing and hearing about them throughout your shipping process. Here's a handy guide to Incoterms, a set of international rules for the interpretation of the most commonly used trade terms. Common Shipping Terms Abbreviation for International Trade Shipment Terms and Conditions: We have to face so many shipping terms and abbreviations during shipping or shipment (LCL sea shipment or air shipment) the products to the foreign buyers.In some cases, these terms are known and in most of the cases, it’s unknown to us. POL (Port of Loading): The port of origin from which the container is first loaded onto the vessel. Glossary of terms used in world trade of goods, products and services, in 4 languages: Spanish, English, French and German. 1 Glossary of Most Common Customs Terms A Form – See Demand Note Ad Valorem – a term from Latin means "according to value"; usually refers to a tax, duty, or charge based on the cargo’s value. 1. Shop now. EXW — Ex Works: Under this term, delivery is complete when goods at the disposal of the buyer are placed at the place specified therein. 13 International Trade Terms: EXW, CIF, FOB, CFR Published on July 28, 2016 July 28, 2016 • 36 Likes • 4 Comments FCL (Full Container Load): A container shipment that utilizes an entire container. Get this from a library! International shipping involves many different terms, ... CY is the abbreviation of Container Yard. From required documents and shipment types to international regulations and customs procedures, different players and aspects of maritime transport have its own acronyms and abbreviations. And just how are SOLAS and VGM related? LCL (Less than Container Load): Also known as groupage or a shared container, LCL shipments are shipped alongside other cargo in one single shipping container. A.I.R.M.I.C. Get your instant quote for more than 250K ocean freight ratesAlready have an account? Ad Valorem Duty – Duty and taxes which are calculated on the basis of value. [Alan E Branch] You must provide value for the fields marked in red. Find out what is the most common shorthand of International Trade Terms on Abbreviations.com! IATA - International Air transport Association An international organisation of airlines that regulate conditions of operation, safety, schedules and pricing for international air transport - We are ranked No. AFSPS. AAA. COMMON EXPORT & SHIPPING ABBREVIATIONS. Dictionary of shipping/international trade terms and abbreviations. From required documents and shipment types to international regulations and customs procedures, different players and aspects of maritime transport have its own acronyms and abbreviations. abbreviations of the trade terms annexed hereto be accepted and used by Governments, international organizations and business whenever these trade terms are referred to in abbreviated form and mutually promote their use in support of a common approach to trade facilitation. For participants in international trade and transpor t: ABCC. Association of Average Adjusters. 20+ International Trade acronyms and abbreviations related to Shipping: D2D (Door to Door): In door-to-door shipping, cargo is shipped from the indicated pick-up location at origin (eg. International Shipping Federation: ISO: International StandardsOrganisation: ITI: Customs Convention on the International transit of goods: ITMA : InstituteofTradeMark Agents: IUPIP: InternationalUnionfor the … çm‰ù,o—Ó¿º„ÿ„ò«÷õ�¿ÄæòEß�}i£”öÏ_7.niÇ®²°ëÛ!#ìÒ�s ı¼aŸsêÆê;�±M%Ú~HÙ¶í‡Ü岃±Ç®F˜»¦ õ©p쇱. This excludes transportation services before and after loading. TEUs (Twenty-Foot Equivalent Unit): A unit of measurement in maritime transport that is equivalent to the capacity of a 20-foot container. International Commercial Terms (Incoterms), published by the International Chamber of Commerce since 1936, is a recognized standard used worldwide in international contracts for sales of goods. Maritime Organisation Names – Acronyms and abbreviations IMO – International Maritime Organisation. 8, Ho Chi Minh City, Viet Nam - Association of Insurance and Risk Managers in Industry and Commerce "Fonds Africain de Developpement, FAD) is an affiliate of the African Development Bank (AfDB) which provides interest-free loans to African countries for projects which promote economic and social development and improve international trade among members o" - In the old days the need for keeping the length of communication offshore was imperative to save time. ;èôoiD\K;èæ4t%Ìõ0Ú=§=i»ZÆ¡ËĞÌGĞŒ¹•±`/x±Fôt2B}Õ~Lfıh[Â>7}İ–ÔyÔ} ê®ë°­4ºu GI)ãR¶Ó)á�{Á4'£�mİh¬�Òö�µAc»J]‹PjI�XØÛ­rû. Be it with providers, freight forwarders, or agents, you must have come across these terms and concepts a million times. The following are the list of commercial terms used in international trade and the documents required under them. buyer’s warehouse) at destination. These abbreviations are still used more or less today. POD (Port of Discharge): The port of destination where the container is unloaded from the vessel and picked up by the consignee. Commercial terms used in International Trade. 20 shipping acronyms all shippers should know - Infographic. ISF (Importer Security Filing): A regulation that requires maritime cargo imported into the US to be declared 72 hours before vessel departure. About. Formerly known as the SED (Shipper’s Export Declaration). [Peter Kapoor] The latest version came into effect January 2011 (version 2010). International Trade abbreviations in International Shipping. SOLAS (Safety of Life at Sea): An international maritime treaty that sets basic measures for the safe construction, equipment, and operation of merchant vessels. BL o BoL (Bill of Lading): The Bill of Lading is a document that serves as evidence of a contract of carriage between the shipper and carrier. Abbreviation:- A shortened or contracted form of a word or phrase used in place of the whole Term:- Name, expression or word used for some particular thing, especially in a specialized field of knowledge CFR—Cost and Freight (named destination port)The seller clears the goods for export and pays the costs and freight to the named port of destination. International Ship and Port Facility Security Code (ISPS Code) - a code agreed between the signatories of the 1974 International Convention for the Safety of Life at Sea (SOLAS) on minimum security arrangements for ships, ports and Coast Guard agencies. In this infographic, you’ll find 20 of the most common acronyms that all shippers need to know in order to take on the massive industry that is ocean freight. Even though basic, it’s extremely important to fully understand these terms and how they apply to your shipment. This means that the seller arranges and pays for all relevant expenses involved in shipping goods – from their point of export to a given point of import. Some resources are not available on server temporarily. VGM (Verified Gross Mass): The total gross weight of a shipping container (including dunnage, bracing, and tare). When you’re getting quotes from suppliers they will almost always give you three pieces of information: the price per unit, the MOQ (minimum order quantity), and the shipping terms. The Fairplay book of shipping abbreviations: Acronyms and abbreviations used in shipping and international trade The Dictionary of International Trade also contains an Annex with the most common acronyms and abbreviations to be found in international trade documents.-----A Abandonment. The Web's largest and most authoritative acronyms and abbreviations resource. EEI (Electronic Export Information): Electronic declaration of goods valued at above $2,500 that are exported from the US. I'd like to get pricing alerts, new available routes, & relevant information from iContainers (optional), declare the VGM of their shipping containers, Ordinary General Shareholders’ Meeting - 2018. AAAA. When the term CY to CY , ... Common price term used in international trade meaning seller's responsible for the cost of goods is to the point of loading it to the vessel deck or aircraft loading deck. These abbreviations include abbreviations used in Export, abbreviations in Import, list of antonyms in shipping trade, abbreviations used in freight forwarding business and commonly used terms in customs brokering. It was the ISO that prescribed the standard size of shipping containers to make global container trade more efficient. 11 common terms used in international trade February 13, 2018 Build an Export Plan Part 4 of 4 in series Our four-part series on the whys and hows of exporting wraps up with a trade language primer, providing detailed explanations of key terminology you’ll need to understand. AARA. Login, By submitting the form, you accept our privacy policy, An error occurred sending trying to register your data, is not part of our routes You can choose an alternative in below, You must provide value for at least one of the fields marked in red. 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