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EES Study > DEFINITIONS > Flashcards

DEFINITIONS Flashcards

1
Q

ACBPS

A

Australian Customs & Border Protection Service - Manages security & integrity of Australia’s borders.

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2
Q

Agent

A

A person authorised to transact business for and in the name of another person or company.

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3
Q

AQIS

A

Australian Quarantine Inspection Service - Government body protecting Australia from contaminated fauna & flora

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4
Q

B/L

A

Bill of Lading - Acts as receipt for the cargo, issued by the carrier. Contains the terms of the contract of carriage & is a document of title to the goods.

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5
Q

Bonded Warehouse

A

A place of security approved by the custom authorities for the deposit, keeping & securing of goods liable to excise duty, without payment of this duty.

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6
Q

Box

A

Colloquial name for a shipping container

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7
Q

Break Bulk

A

Goods shipped loose in the vessels hold and not in containers

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8
Q

CAN

A

Customs Authority Number - Number given by customs upon the clearance of export goods.

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9
Q

Cartage

A

Refers to the intra-city haulage of goods on trucks

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10
Q

CEU

A

Car Equivalent Unit

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11
Q

CFS

A

Container Freight Station (packing depot)

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12
Q

COO

A

Certificate of Origin - Document certifying the country of origin of goods which is normally issues or signed by a Chamber of Commerce or Embassy

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13
Q

CI

A

Commercial Invoice - Represents a complete record of a transaction between importer & exporter.

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14
Q

CRN

A

Customs Register Number - number allocated by customs to an export agent or freight forwarder for use when exporting goods on the same shipment from more than one shipper.

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15
Q

Cut Off Date

A

The last date for which goods can be accepted for a nominated vessels sailing.

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16
Q

CNEE

A

Consignee - The buyer/client, having legal title to the goods.

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17
Q

CNOR

A

Consignor - Shipper

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18
Q

Consignment Note

A

Describes a consignment moving from one point to another, also known as advice or dispatch note or con note.

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19
Q

CTO

A

Container Terminal Operator (wharf/port/berth)

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20
Q

DAFF Biosecurity

A

Department of Agriculture, Fisheries and Forestry - aims to protect and enhance the sustainability, profitability and competitiveness of Australia’s agriculture, food, fisheries & forestry industries.

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21
Q

Demurrage

A

A storage fee that occurs when a containers “free time” has been exceeded.

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22
Q

EDO

A

Electronic Delivery Order - document given to the party surrendering the original B/L, authorizing them to take delivery of the goods.

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23
Q

Excise Duty

A

A tax on certain goods produced or manufactured in Australia. Incl. Alcohol, fuel, petroleum & tobacco.

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24
Q

Drawback

A

Repayment of a duty upon re-exportation of goods previously imported

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25
Q

Duty

A

A particular percentage (depending on commodity) of the FOB value, which is paid to the government. FOB value is the cost of the goods + charges to get goods onto vessel.

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26
Q

ETA

A

Estimated Time of Arrival - Expected Date/hour the goods will arrive at a nominated point/port

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27
Q

ETD

A

Estimated Time of Departure - Expected date/hour the goods will depart from a nominated point/port

28
Q

FAK

A

Freight, All Kinds - FCL of mixed shipments for different consignees.

29
Q

FCL

A

Full Container Load - Shipper utilises all the space in a container which he packs himself.

30
Q

FCX

A

FCL shipments from multiple suppliers for the one consignee

31
Q

Flat Rack

A

Container bottom specifically for heavy lifts and over width cargo. Noncontainerizable cargo can be accommodated on several flats positioned side by side.

32
Q

Freight

A

The amount of money payable for the carriage of goods. Sometimes erroneously used to describe the goods, which are more correctly described as “cargo” in marine transportation.

33
Q

FI

A

Forwarding Instruction - Provides details of the parties involved, the cargo, and its transportation requirements.

34
Q

GP

A

General Purpose - A closed steel container for the carriage of all types of general, non-hazardous cargo.

35
Q

GST

A

Goods & Service Tax - 10% of the CIF value + duty amount. (cost of goods, marine insurance & freight amount to destination port) + duty.

36
Q

Hazchem Code

A

Hazardous chemical code placed on tankers carrying dangerous chemicals.

37
Q

Hi-Cube

A

Container which is slightly (bigger) higher than a GP container.

38
Q

House Bill of Lading

A

Issued by a freight forwarder or consolidator covering a single shipment containing the names, addresses and specific description of the goods shipped.

39
Q

ICC

A

International Chamber of Commerce

40
Q

IMDG Code

A

International Maritime Dangerous Goods Code - contains the IMO recommendations for the carriage of dangerous goods by sea.

41
Q

IMO

A

International Maritime Organisation - a UN body charged with the duty of making safety and anti-pollution conventions and recommendations concerning sea transport

42
Q

Incoterms

A

List of standard terms stated by the ICC for all foreign trade contracts, lists the respective responsibilities of the buyer and seller.

43
Q

L/C

A

Letter of Credit - a contractual commitment by the buyer’s bank to pay once the exporter ships the goods and presents the required documentation to the exporter’s bank as proof.

44
Q

LCL

A

Less than Container Load - When a parcel is too small to fill a container, it is grouped by the carrier at a CFS depot with other compatible cargo for the same destination.

45
Q

Manifest

A

List of goods or passengers on a vessel/aircraft

46
Q

Notify Party

A

The party that receives the cargo arrival notice

47
Q

OOG

A

Out of Gauge - Goods whose dimensions exceed those of the container in which they are packed.

48
Q

Packing List

A

Document required by AQIS which states how the shipment has been packed with regards to straw, timber and bark. The packing declaration must be completed in full including a numerical link i.e. container or bill number and issued on suppliers own letterhead to be accepted by quarantine.

49
Q

POD

A

Place of Discharge - The place where goods are discharged and carriers’ liability ends.

50
Q

PRA

A

Pre Receival Advice - The electronic lodgment to the wharf for notification of a container coming in for export.

51
Q

PCTC

A

Pure Car &Truck Carrier

52
Q

RO/RO

A

Roll On Roll Off - A vessel onto which goods can be driven, via ramp

53
Q

Reefer

A

Refrigerated Container

54
Q

Shipper

A

Person who tenders the goods for carriage, not to be confused with the party issuing the bill of lading or the vessel operator, who is the carrier.

55
Q

TEU

A

20ft Equivalent Unit

56
Q

Transship

A

When cargo is discharged from one ship and loaded onto another in order to reach a port of no direct service or as a cheaper alternative to the direct service.

57
Q

WCI

A

World Container Index

58
Q

Waybill

A

Equivalent to Bill of lading, but for air freight. Acts as receipt of goods and evidence of the contract for carriage, for airfreight only.

59
Q

DG

A

Dangerous Goods - Goods that are a risk to health, safety, property or the environment.

60
Q

HS Code

A

Harmonized System Code - Global system used to classify goods.

61
Q

Detention

A

The length of time allocated for collecting CNTR from port, unloading it and returning it to the port.

62
Q

EBIT

A

Earnings Before Interest & Tax

63
Q

Port Pair

A

Two ports that are involved in a specific trade route/lane. Origin & Destination Ports.

64
Q

GRI

A

General Rate Increases - Periodic increase of rates. Influenced by cost of fuel, shipping capacity, market cost etc.

65
Q

POL

A

Port of Loading

66
Q

Free Time

A

The length of time that a container can be stored at the port, free of charge.

67
Q

Detention Charge

A

An extra fee, charged if the container is not returned to the port in the allocated time frame.

EES Study (24 decks)

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