abbreviations used in shipping and international trade

Familiarize yourself with them right from the beginning so you get accustomed to seeing and hearing about them throughout your shipping process. The refusal of merchandise by the designated consignee. Arab British Chamber of Commerce. This implies: 1. COMMON EXPORT & SHIPPING ABBREVIATIONS. Are you aware? 8, Ho Chi Minh City, Viet Nam Agency - The right given by an individual, body or firm to another person or company to act on its IMO (International Maritime Organization): Under IMO 2020 regulations, starting 1 Jan 2020, the sulfur content in marine fuels will be capped at 0.5%, down from the current 3.5%. About. Merchandise shipped under FCL does not share container space with other merchandise. 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. 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. The Fairplay book of shipping abbreviations: Acronyms and abbreviations used in shipping and international trade 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. All Business undertaken by RJJ Freight Ltd of whatever nature is subject to the Standard Trading Conditions of BIFA 2005A edition. Importer, exporter, and cargo information must be included. What’s the difference between HS and HTS codes? CAF – Currency Adjustment Factor is a surcharge to cover the currency fluctuations – charged still on some of the routes. Cosmo has defined the 2010 Incoterms abbreviations, such as FOB, CFR, and DAP for international trade. VGM (Verified Gross Mass): The total gross weight of a shipping container (including dunnage, bracing, and tare). 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. 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. *FREE* shipping on qualifying offers. In shipping there are many abbreviations. An abbreviation used in some international sales contracts, when the selling price includes all “Costs, Insurance and Freight” for the goods sold. The International Maritime Organisation (IMO) is an intergovernmental specialised agency of the United Nations responsible for regulating the shipping industry, ranging from safety and pollution standards to maritime security and shipping efficiency requirements. ADCOM. Buy Dictionary of Shipping: International Business Trade Terms and Abbreviations by Alan E. Branch online at Alibris. We have new and used copies available, in 2 editions - starting at $44.09. buyer’s warehouse) at destination. Some resources are not available on server temporarily. Be it with providers, freight forwarders, or agents, you must have come across these terms and concepts a million times. 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. The list of International Trade abbreviations in International Shipping. 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. 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. ETA (Estimated Time of Arrival): The day an international shipment is estimated to arrive at the port of destination. 3rd Floor, Nguyen Lam Tower, 133 Duong Ba Trac Street, Ward 1, Dist. 20+ International Trade acronyms and abbreviations related to Shipping: TEUs (Twenty-Foot Equivalent Unit): A unit of measurement in maritime transport that is equivalent to the capacity of a 20-foot container. 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. The Fairplay book of shipping abbreviations : acronyms and abbreviations used in shipping and international trade. 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. Applying Incoterms to sale and purchase contracts makes global trade easier and helps partners in different countries understand one another. ;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. 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. 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. Formerly known as the SED (Shipper’s Export Declaration). The buyer bears risks of loss or damage.CIF—Cost Insurance and Freight (named destination port)The seller clears the goods for export and pays the costs, cargo insurance, and freight to the named port of destination. Looking for the abbreviation of International Trade Terms? ISF (Importer Security Filing): A regulation that requires maritime cargo imported into the US to be declared 72 hours before vessel departure. 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. 13 International Trade Terms: EXW, CIF, FOB, CFR Published on July 28, 2016 July 28, 2016 • 36 Likes • 4 Comments used. And just how are SOLAS and VGM related? There was an internal error while serving your request. Delay fees and GRIs have the potential to greatly affect your overall shipping costs. [Alan E Branch] International Trade in Services : ITSC: IT Steering Committee (internal to Eurostat) (The high-level group for IT governance in Eurostat. Always Accessible Always Afloat. Association of Average Adjusters. It was the ISO that prescribed the standard size of shipping containers to make global container trade more efficient. AFFREIGHTMENT. 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. The Fairplay book of shipping abbreviations: Acronyms and abbreviations used in shipping and international trade [Kapoor, Peter] on Amazon.com. P2P (Port to Port): In port-to-port shipping, cargo is shipped from the port of origin to the port of destination. AAAA. A.I.R.M.I.C. seller’s warehouse) to the indicated drop-off location (eg. 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. Is a 20-foot container the same as a TEU? International Trade abbreviations in International Shipping. Any act which could not have been prevented by humam care and forethought. You must provide value for the fields marked in red. ABT. The latest version came into effect January 2011 (version 2010). For participants in international trade and transpor t: Read More Abbreviations - W In the old days the need for keeping the length of communication offshore was imperative to save time. 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. BIFA (British International Freight Association) BIFA is a trade association for UK registered companies engaged in international movement of freight by all modes of transport, air, road, rail and sea. 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. These abbreviations are still used more or less today. 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. Get your instant quote for more than 250K ocean freight ratesAlready have an account? Act of God. The Web's largest and most authoritative acronyms and abbreviations resource. Full Forms related to all categories like Academic and Science, Business, Finance, Community, Computing, Governmental, Internet, Miscellaneous, Regional, Medical, Sports and International with hundreds of sub categories with described abbreviations with Full Forms list. Amsterdam-Antwerp-Rotterdam Area. Commercial terms used in International Trade. çm‰ù,o—Ó¿º„ÿ„ò«÷õ�¿ÄæòEß�}i£”öÏ_7.niÇ®²°ëÛ!#ìÒ�s ı¼aŸsêÆê;�±M%Ú~HÙ¶í‡Üå²ƒ±Ç®F˜»¦ õ©pì‡±. 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. Maritime Organisation Names – Acronyms and abbreviations IMO – International Maritime Organisation. Here's a handy guide to Incoterms, a set of international rules for the interpretation of the most commonly used trade terms. From IMO 2020 and ELD to GRI and EEI, one way or another, you’ve probably heard it all. If you would like more information on shipping terms and procedures, we encourage you to visit our help center. D2D (Door to Door): In door-to-door shipping, cargo is shipped from the indicated pick-up location at origin (eg. Get this from a library! AARA. Even though basic, it’s extremely important to fully understand these terms and how they apply to your shipment. Under SOLAS, shippers are required to declare the VGM of their shipping containers. ABCC. ELD (Electronic Logging Device) Mandate: The ELD mandate is US regulation requiring drivers of commercial motor vehicles to log their hours of service electronically. And if you’ve felt lost or confused at any moment, fret not, you’re not alone. POD (Port of Discharge): The port of destination where the container is unloaded from the vessel and picked up by the consignee. Dictionary of shipping/international trade terms and abbreviations. Popularly used abbreviations in banking, commonly using tax abbreviations and othe. 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. 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. This excludes transportation services before and after loading. A/C. - 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" - HTS (Harmonized Tariff System): Seven- to ten-digit codes that classify products into more specific categories than HS codes. Account. Always Afloat. ISF International Shipping Federation ISIC International Standard Industrial ISIC International Standard Industrial Classification ISIC International Standard Industrial Classification IS--Information systems ISM Institute of Supply Management ISM -International Safety Management ISM(C) International Safety Management Code International shipping involves many different terms, ... CY is the abbreviation of Container Yard. Sometimes erroneously used to describe the goods, which are more correctly described as “cargo” in marine transportation. 20 shipping acronyms all shippers should know - Infographic. EEI (Electronic Export Information): Electronic declaration of goods valued at above $2,500 that are exported from the US. GATT (General Agreements on Tariffs & Trade) – an international multilateral agreement embodying a code of practice for fair-trading in international commerce with headquarters in … Various LTL cargoes are grouped and transported together to lower transportation costs. LTL (Less than Trucking Load): Similar to LCL but for land transportation. International Shipping Federation: ISO: International StandardsOrganisation: ITI: Customs Convention on the International transit of goods: ITMA : InstituteofTradeMark Agents: IUPIP: InternationalUnionfor the … EXW — Ex Works: Under this term, delivery is complete when goods at the disposal of the buyer are placed at the place specified therein. 1 in New Zealand NVOCC - Non-Vessel Operating Common Carrier Acts like a shipping … 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 You may be able to put them into context but… just how well do you understand these shipping acronyms? Glossary of terms used in world trade of goods, products and services, in 4 languages: Spanish, English, French and German. AAA. Many thanks to Kjetil at Rimship for sharing his knowledge and abbreviations with us. 1. COO – Certificate Of Origin – issued by the local Chamber Of Commerce … POL (Port of Loading): The port of origin from which the container is first loaded onto the vessel. AFSPS. Get this from a library! [Peter Kapoor] The following are the list of commercial terms used in international trade and the documents required under them. 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. SOLAS (Safety of Life at Sea): An international maritime treaty that sets basic measures for the safe construction, equipment, and operation of merchant vessels. Ad Valorem Duty – Duty and taxes which are calculated on the basis of value. Shop now. Find out what is the most common shorthand of International Trade Terms on Abbreviations.com! 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. FCL (Full Container Load): A container shipment that utilizes an entire container. 20+ International Trade acronyms and abbreviations related to International Shipping: International Trade acronyms and abbreviations in Shipping. BAF – Bunker Adjustment Factor is a surcharge to cover oil price fluctuation. ETD (Estimated Time of Departure): The day an international shipment is estimated to depart the port of origin and begin its maritime transit. 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. To seeing and hearing about them throughout your shipping process all shippers should know - Infographic with! A TEU the total Gross weight of a shipping container ( including dunnage bracing. 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