Terms used in freight forwarding such as Customs Value,Cut-off date or time,Container Yard,Delivered at Frontier

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Terms used in freight forwarding such as Customs Value,Cut-off date or time,Container Yard,Delivered at Frontier etc.

 

This post explains about terms used in freight forwarding such as CUSTOMS TARIFF, Customs,Customs Value,Cut-off date or time,Container Yard,Delivered at Frontier,Dangerous Goods ,Dangerous Goods,Delivered At Place 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

 

Customs Invoice:Certain countries require special invoices containing specific information for the Customs clearance and valuation of imported shipments. These documents contain most of the elements of the Commercial Invoice, and are usually in the language of the importing country. The Canadian Customs Invoice is the most popular of this type.

 

CUSTOMS TARIFF - Import duty schedule, usually commodity specific, often categorized by harmonized numbers.

 

Customs Value:The value of a shipment as declared by the shipper or appraised by Customs to enable determination of accurate import duties.

 

Customs Value:The worth of an item or group of items expressed in a monetary amount, within a consignment declared to Customs for duty and statistical reasons.

 

Terms used in freight forwarding such as Customs Value,Cut-off date or time,Container Yard,Delivered at Frontier etcCustoms:The department of the Civil Service that deals with the levying of duties and taxes on imported goods from foreign countries and the control over the export and import of goods e.g. allowed quota prohibited goods.

 

Customs-Trade Partnership against Terrorism (C-TPAT): A joint government/business initiative to build cooperative relationships that strengthen overall supply chain and border security. The voluntary program is designed to share information that will protect against terrorists' compromising the supply chain.

 

Cut-Off - Last possible date cargo may be delivered to vessel or designated point.

 

Cut-off date or time -The last date or time at which export cargo will be received for a particular vessel or aircraft

 

Cut-Off Time - The latest time cargo may be delivered to a terminal for loading to a scheduled train or ship.

 

Cut-off time (closing time):the latest time a container may be delivered to a terminal for loading to a scheduled barge, vessel, train, or truck.

 

Cut-off Time:Latest possible time the cargo or container may be delivered to the vessel or designated point. See "Closing".

 

CWT. - Hundred weight (United States, 100 pounds: U.K.,112)

 

CY - Abbreviation for Container Yard.

 

CY - Container Yard.The rail terminal where containers are held once they are taken off the railroad

 

CY/CFS - Cargo loaded in a full container by a shipper at origin, delivered to pier facility at destination, and then devanned by carrier for loose pick up.

 

CY/CFS:Cargo loaded in a full container by a shipper at origin, delivered to a CFS facility at destination, and then devanned by the carrier for loose pick-up.

 

CY/CY - Cargo loaded by shipper in a full container at origin and delivered to carrier's terminal at destination for pick up intact by consignee.

 

CY:Container Yard - place or depot where individual containers are held prior to loading on board a ship and after unloading from the ship. Can be inland or at the dock-side.

 

CY-CY: - (Container Yard to Container Yard) an expression describing ocean/Intermodule transportation in which cargo is received by the carrier in a shipper-packed container for delivery to the consignee for unloading by the consignee. The expression CY-CY does not specify the actual place of cargo acceptance or delivery under the contract of carriage, but only that the shipper is responsible to receive and unload the container. The place of cargo acceptance and delivery must be separately specified.

 

D.B.A. - Abbreviation for "Doing Business As." A legal term for conducting business under a registered name.

 

D.W.T.: Deadweight

 

D/A-DOCUMENTS AGAINST ACCEPTANCE:Instructions from a shipper to his bank that the documents attached to a time draft for collection are deliverable to the drawee against his acceptance of the draft.

 

D/O- See Delivery Order

 

D/P-DOCUMENTS AGAINST PAYMENT:Instructions a shipper gives to his bank that the documents attached to a draft for collection are deliverable to the drawee only against his payment of the draft.

 

DAF Delivered at Frontier (named place) – Incoterms:The seller must pay the costs and freight to bring the goods to a land frontier, but before the customs border of the adjoining country. This term is for land transport only.

 

DAF (Delivered At Frontier):Here the seller's responsibility is to hire a forwarder to take goods to a named frontier, which usually a border crossing point, and clear them for export. "Delivery" occurs at this time. The buyer's responsibility is to arrange with their forwarder for the pick up of the goods after they are cleared for export, carry them across the border, clear them for importation and effect delivery. In most cases, the buyer's forwarder handles the task of accepting the goods at the border across the foreign soil.

 

Damaged Cargo Report:Written statement concerning established damages to cargo and/or equipment.

 

Dangerous Cargo - Needs special handling or stowage.

 

Dangerous Goods - Materials which cause danger by their very presence and are classified under nine major headings:

 

Class 1 Explosives

 

Class 2 Gasses

 

Class 3 Flammable Liquids

 

Class 4 Flammable Solids

 

Class 5 Oxidising Agents

 

Class 6 Poisons

 

Class 7 Radioactive

 

Class 8 Corrosive

 

Class 9 Marine Pollutant / other

 

DANGEROUS GOODS (DG): Articles or substances which are capable of posing a significant risk to health, safety or to property when transported by air.

 

Dangerous Goods :The term used by I.M.C.O. for hazardous materials which are capable of posing a significant risk to health, safety or property while being transported.

 

Dangerous Goods Declaration:Document issued by a consignor in accordance with applicable conventions or regulations, describing hazardous goods or materials for transport purposes, and stating that the latter have been packed and labelled in accordance with the provisions of the relevant conventions or regulations.

 

Dangerous Goods Note - Provides the details of the traders, conveyance, nature of the hazard and who to contact in event of a spillage. (Also see Material Safety Data Sheet.)

 

 

Dangerous Goods Packing Certificate:A document as part of the dangerous goods declaration in which the responsible party declares that the cargo has been stowed in accordance with the rules in a clean container in compliance with the IMDG regulations and properly secured.

 

Dangerous Goods: Articles or substances capable of posing significant health, safety, or environmental risk, and that ordinarily require special attention including packaging and labeling when stored or transported.

 

DAP (Delivered At Place) :DAP term is used for any type of shipments. The shipper/seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.

 

The above details describes about terms called in freight forwarding such as CUSTOMS TARIFF, Customs,Customs Value,Cut-off date or time,Container Yard,Delivered at Frontier,Dangerous Goods ,Dangerous Goods,Delivered At Place 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 overseas trade below this post Terms used in freight forwarding such as courier,credit agreement,customs registered number

 

 

The above information is a part of Import Export course online


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Mohammed Golam mowla: Very useful.Thanks.

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