Terms used in freight forwarding such Notification of arrival,Ocean B/L,Ocean freight,On Deck Cargo,Oncarriage,open policy etc.
This post explains about terms used in freight forwarding such as Notification of arrival,Ocean B/L,Ocean freight,On Deck Cargo,Oncarriage,open policy etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in freight forwarding
NOS/NES:Not otherwise specified/Not elsewhere specified. This term often appears in ocean or airfreight tariffs respectively. If no rate for the specific commodity shipped appears in the tariff, then a general class rate (for example, "printed matter NES") will apply. Such rates usually are higher than rates for specific commodities.
NOTIFICATION OF ARRIVAL: A written notice sent to the consignee notifying them of a shipment's arrival.
Notify Address:Address of the party other than the consignee to be advised of the arrival of the goods.
Notify Party:The person or company to be advised by the carrier upon arrival of the goods at the destination port.
NPF: Non-Privileged Foreign (NPF) Status. One of the customs categories of foreign status merchandise. Such merchandise is evaluated based on its condition at the time it is shipped from the zone to the U.S. market and entered for consumption by CBP
NPPFE - Not Properly Packaged For Export.
NVO(C)C- Non Vessel Owning/Operating (Common) Carrier. A Carrier (may be a Forwarder or Consolidator) who issues Bills of Lading for the carriage of cargo on vessels which he/she neither operates or owns.
NVOCC (Non Vessel-Operating Common Carrier):owns no vessels (ships), but provides ocean shipping negotiated-rate freight-forwarding services. It is a cargo consolidator in ocean trades who buys space from a carrier and resells it to smaller shippers. The NVOCC issues bills of lading, publishes tariffs. Often will affiliate with freight forwarders to provide pickup/delivery, other services.
O/B:Onboard Vessel.
O/F:Ocean Freight (charges).
OBL - Original Bill of Lading.
OBL:Ocean Bill of Lading.
Ocean B/L - See B/L.
Ocean B/L:A B/L covering port-to-port shipment. Typically banks continue to use this term on L/Cs even though the majority of international shipments are containerised (See also Multimodal B/L).
Ocean Bill of Lading (Ocean B/L) - A contract for transportation between a shipper and a carrier. It also evidences receipt of the cargo by the carrier. A bill of lading shows ownership of the cargo and, if made negotiable, can be bought, sold or traded while the goods are in-transit.
Ocean Bill of Lading (Ocean B/L) :A bill of lading issued by the ocean-going carriers.
OCEAN BILL OF LADING:Bill of lading indicating that the exporter consigns a shipment to an international carrier for transportation to a specified foreign market. Unlike an inland B/L, the ocean B/L also serves as a collection. If it is a straight B/L, the foreign buyer can obtain the shipment from the carrier by simply showing proof of identity. If a negotiable B/L is used, the buyer must first pay for the goods, post a bond, or meet other conditions agreeable to the seller.
Ocean Bill of Lading:Issued by: Steamship line Purpose: Each carrier has its own bill of lading form. Serves as contract of carriage between carrier and shipper, spelling out legal responsibilities and liability limits for all parties to the shipment. The B/L also can be used to transfer title to the goods to a party named in the document. Specifics shipment details, such as number of pieces, weight, destination, etc. Usually three signed originals issued. Licensed consolidators (NVOCCs) issue their own B/Ls to shippers.
OCEAN FREIGHT: Term used to describe a shipment or goods that have a prior or subsequent move via ocean vessel
OCEAN LINERS:Ships in regularly scheduled operations that specialise in "less-than-shipload" quantity shipments.
Offshoring: The practice of moving domestic operations such as manufacturing to another country.
OFR: Ocean Freight
On Board / Shipped On Board:A notation on a bill of lading, indicating that not only did the carrier receive the goods in good order and condition, but they were also placed on board the ship.
On Board B/L - See B/L.
On Board Bill of Lading:A Bill of Lading in whi
ch a carrier acknowledges that cargoes have been placed on board a certain vessel. The on-board date of bills of lading is the date on which liabilities of the carrier start.
On Board/ Shipped On Board B/L:A B/L evidencing that the goods were not only received by the carrier but were actually loaded on board in good order and condition. "Shipped" indicates that not only were the goods on board, but that the ship has departed the port.
On Board:Cargoes or containers landed onto the cargo hold or the cells of carriers.
ON CARRIAGE - Inland freight movement on the importer's side.
On Deck Cargo - Cargo which must be shipped on the deck of the vessel.
ON HAND - Refers to freight having been made available for pickup by a carrier.
On Time Delivery: A metrics which is defined as % of receipts that were received by the customers on time.
On-Board Courier:A dedicated messenger who physically accompanies an international shipment.
Oncarriage:The carriage of goods (containers) by any mode of transport to the place of delivery after discharge from the ocean vessel (main means of transport) at the port (place) of discharge.
On-carrier:person or company who contracts to transport cargo from the port or place of discharge of a sea-going or ocean-going ship to another destination by a different means of transport, such as a feeder vessel, truck, train, or barge.
On-Deck Cargo:Cargo usually stowed on the deck of a vessel. This cargo is usually subjected to wind and sea water.
One Stop Shop:An organisation, which provides all needed requirements in one location.
On-Forwarding:Forwarding a shipment from an intermediate stop to its final destination; subject to additional charge.
Open Account:The seller allows the buyer to send payment at some future time (ie 60 days).
OPEN POLICY:A cargo policy with no expiration date that provides automatic coverage of cargo to or from an Assured in a specified trade at agreed rates, terms, and conditions. Usually consists of separate Marine and War policies.
OPEN SIDE CONTAINER :Shipping container with side door which drop down to give unrestricted access to the sides of the container for loading or discharging.
OPEN TOP CONTAINER: Kind of shipping container which has an open top instead of a solid roof to enable cargo, such as timber or scrap metal, to be loaded from the top
Open Top Container:A freight container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.
Open Tops:A 20' or 40' container with the top being open. Used for oversized cargo, and it's covered by a tarp for protection of the cargo.
The above details describes about terms called in freight forwarding such as Notification of arrival,Ocean B/L,Ocean freight,On Deck Cargo,Oncarriage,open policy etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in freight forwarding trade below this post. Terms used in freight forwarding such as Multimodal Transport,Network Planning,Network Optimization,Neutral Body,Nonconformity
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