Tariffs and Customs Terms F.1.63

Question 1

a phrase that means the freight charges will be paid by the consignee.

Answer 1

freight collect

Question 1

the carrier’s invoice for freight charges

Answer 1

freight bill

Question 2

basic transport rate per cubic meter or metric ton, plus surcharges.

Answer 2

freight costs

Question 3

one who receive and forwards cargo

Answer 3

freighter

Question 4

a vessel that carries cargo

Answer 4

freighter

Question 5

a shipper, exporter, or supplier of goods

Answer 5

freighter

Question 6

a person or firm who collects and consolidates small shipments, and uses a basic mode of delivery transport. A trained professional, he advises exporters on the best method of cargo transport, and executes the entire operations in behalf of the shippers or exporters. Also, a brokerage fee may be paid if the forwarder performs at least two of the following services: a) coordination of cargo movement to shipside; b) preparation and processing of bill of lading; c) preparation and processing of dock receipts or delivery orders, d) preparation and processing of consular documents or export declarations, e) payment of freight charges. A freight forwarder. may be an intermediary firm that facilitates sea transport of cargo through booking cargo space, negotiating and paying freight rates, preparing documents; and providing packing, crating, trucking, warehousing. It does not act as a carrier

Answer 6

freight forwarder

Question 7

a phrase that means the ship-owner shoulders all expenses on any of the above-mentioned shipping operations, at the port of discharge.

Answer 7

freight in full of all… (port charges, pilotage, light dues, trimming, lighterage) at the discharging port

Question 8

a situation wherein the freight charges on goods and/or equipment have been paid.

Answer 8

freight paid

Question 9

a marine insurance policy that gives coverage not more than 15% of the value of a vessel’s hull and machinery

Answer 9

freight policy

Question 10

the cost paid by shippers of ocean cargo transport

Answer 10

freight rate

Question 11

prescribed rates imposed on cargoes, determined by weight (in tons) or by volume (in cubic meters), whichever is higher.

Answer 11

freight rate quotation

Question 12

in the metric system, it refers to a metric ton of 1,000 kgs. Also referred to as pay ton, revenue ton, or scale ton. It is the base ton on which freight rate is computed. This is usually known by the symbol “W” or “M”, meaning freight calculated on weight, and measurement, respectively.

Answer 12

freight ton

Question 13

the imaginary point where vessels, or other means of transport, cross the frontier, national boundaries, territorial waters, or airspace in the case of aircrafts).

Answer 13

frontier crossing point

Question 14

non-completion of a charter voyage due to a, marine peril, which is not insured. As such, the ship-owner is not compelled to allow continuation of the voyage.

Answer 14

frustration

Question 15

a phrase in a charter contract which refers to a full cargo that can be allowed by the draft of a ship (depending on her loadline).

Answer 15

full and complete cargo

Question 16

means a container loaded with cargoes belonging to a single consignee and/or covered by only one Bill of Lading.

Answer 16

full container load

Question 17

an offer where a trader requests a confirmed offer from the exporter.

Answer 17

full corporate offer

Question 18

a costing method that takes into consideration variable and fixed overhead costs of production, and profit margin.

Answer 18

full costing

Question 18

an expression in marine cargo insurance contract implying that incase of cargo damage or loss, the policy serves as conclusive proof of insurable interest, and the insurer cannot require any other evidence from the insured

Answer 18

full interest admitted

Question 19

there refer to full container full loads, trailers, wagons, or airline unit load devices, which contain goods for delivery to the consignee.

Answer 19

full loads

Question 20

a situation wherein all ordered goods, as per transport documents, have been shipped at the port of destination

Answer 20

full shipment effected

Question 20

a phrase in a charter contract that refers to the entire cargo space of a ship, including her deck capacity, holds, etc. which she can reasonably carry.

Answer 20

full reach and burden

Question 21

a charter contact clause that empowers the ship owner to allow certain reduction to cargo freight, in addition to commissions

Answer 21

full terms

Question 22

a despatch money paid by the ship-owner to the charterer, or his broker, if loading or unloading of cargo is done ahead of the allotted time

Answer 22

full terms