Terms used in freight forwarding such as document,department of defense, draft,drayage,drayage,dry van,dumping

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Terms used in freight forwarding such as document,department of defense, draft,drayage,drayage,dry van,dumping etc.

 

 

This post explains about terms used in freight forwarding such as document,department of defense, draft,drayage,drayage,dry van,dumping 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

 

Dock: For ships, a cargo handling area parallel to the shoreline where a vessel normally ties up. For trucks, a loading or unloading platform at an industrial location or carrier terminal.

 

Document: In EDI, a form, such as an invoice or a purchase order, that trading partners have agreed to exchange and that the EDI software handles within its compliance-checking logic. Documentation: The papers attached or pertaining to goods requiring transportation and/or transfer of ownership. These may include the packing list, hazardous materials declarations, export / customs documents, etc.

 

Documentary Collection:A method whereby the seller uses the services of his bank to ensure that the buyer only receives the shipping documents under conditions specified by the seller, ie upon payment, or upon acceptance, of the seller's bill of exchange. (see also Bill of Exchange, Cash Against Documents and URC522).

 

Terms used in freight forwarding such as document,department of defense, draft,drayage,drayage,dry van,dumping etcDOCUMENTARY CREDIT:A commercial letter of credit providing for payment by a bank to the name beneficiary, usually the seller of merchandise, against delivery of documents specified in the credit.

 

DOCUMENTATION: The required paperwork accompanying a shipment such as airwaybill, Export Declaration, Health Certificates.

 

DOCUMENTS - Papers customarily attached to foreign drafts, consisting of ocean bills of lading, air waybills marine insurance certificates, and commercial invoices, and where required, including certificates of origin and consular invoices.

 

Documents against Acceptance (D/A):see Documentary Collection

 

DOCUMENTS:Papers customarily attached to foreign drafts, consisting of ocean bills of lading, marine insurance certificates, and commercial invoices, and where required, including certificates of origin and consular invoices.

 

DoD: Department of Defense (USA)

 

DOMESTIC MOVES: Movement of freight within the border of the same country

 

Domestic:Within your own country.

 

Door to Door Transport:The transport of cargo from the premises of the consignor to the premises of the consignee. Note: In the United States the term 'Point to Point Transport' is used instead of the term 'Door to Door Transport', because the term 'house' may mean 'customs house' or 'brokers house', which are usually located in the port.

 

Door to Door: - This has two general usages with respect to transportation. The more specific meaning is a service or rate basis under which a single carrier undertakes the transportation of cargo from a shipper’s door to the consignee’s door. This can be via any mode, or combination of modes, of transportation. The term is also used to generally describe the physical movement of cargo, especially in a shipper-packed container, intact through to the consignee without transfer or re-handling of the cargo within the container, typically under seal unless broken for Customs.

 

DOT - Department of Transportation.

 

Double Stack Train:A number of railway wagons, usually a block train, on which containers can be stacked two- high.

 

Double-pallet jack: A mechanized device for transporting two standard pallets simultaneously.

 

DPL: See Denied Party List

 

DRAFT:Buyer's payment for goods.

 

Draft:see Bill of Exchange

 

Draft:Sometimes called a Bank Drafter Bill of Exchange, the Draft is a negotiable instrument which contains an order to pay. It must be signed by the drawer (seller) and be payable at sight or by a certain time. The Draft must contain an unconditional order to pay a certain sum of money to the drawee (buyer). Drafts are used in both collection and Letter of Credit methods of payment.

 

DRAWBACK - Articles manufactured or produced in the United States with the use of imported components or raw material ans later exported are entitled to a refund of up to 99% of the duty charged on the imported components. The refund of duty is known as drawback.

 

Drawer:see Bill of Exchange

 

Drayage - Charge made for local hauling by dray or truck in regards to FCL ocean shipments. Same as Cartage.

 

Drayage: The act of transporting something a short distance, often as part of a longer overall move.

 

DRAYAGE: Primarily an ocean freight term, referring to the pick-up of an ocean container from a port and return when empty

 

Drayage:local trucking, typically describing truck movement of containers and trailers to and from rail intermodal yards and to and from port facilities.

 

DRAYAGE:Local trucking.

 

Drayage:The hauling of a load by a cart with detachable sides (dray). Road transportation between the nearest railway terminal and the stuffing place.

 

Drayage:The intermediate movement of goods, usually containerized, between the forwarder's warehouse and the port.

 

Driving time regulations: Rules administered by the U.S. Department of Transportation that limit the maximum time a driver may drive in interstate commerce; both daily and weekly maximums are prescribed.

 

Drop off Charge:Charge made by container owner and/or terminal operators for delivery of a leased, or pool container into depot stock. The drop-off charge may be a combination of actual handling and storage charges with surcharges.

 

Drop Yard: Temporary “parking lots” for containers or cargo, located off the wharves and sometimes next to rail yards or import warehouses.

 

Drop: A situation in which an equipment operator deposits a trailer or boxcar at a facility at which it is to be loaded or unloaded.

 

DRY CARGO : Said of any commodity which is not a liquid

 

Dry Cargo:Cargo that does not require temperature control.

 

Dry Van: A basic 20/40 ft container.

 

Dry-Bulk Container :A container constructed to carry grain, powder and other free-flowing solids in bulk.

 

DST (Double Stack Train) - Rail car train capable of carrying two forty-foot equivalent containers, one on top of each other.

 

DTC: Direct to Consignee. Where a forwarder ships directly to the consignee and no destination agent ar agency is used or available

 

DTD:Door To Door.

 

DTHC: Destination Terminal Handling Charge is a destination fee charged by the port that is usually paid by the consignee

 

DTP:Door to Port.

 

DUE AGENT :Charges protected by an agent (freight forwarder/airline etc) normally present when a COD is to be collected.

 

Dumping:The practice of selling goods in a foreign market at a price lower than which they would be sold at in the home market, to gain a competitive advantage over other suppliers. If this is shown to be injurious to locally-based suppliers in the foreign market, the government of that country may impose remedies by way of anti-dumping duties.

 

The above details describes about terms called in freight forwarding such as document,department of defense, draft,drayage,drayage,dry van,dumping 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 description of goods, destuff,detention charge,direct delivery,direct store delivery,distribution,dock receipt

 

 

The above information is a part of Online Training Course on howtoexportimport


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