Terms used in shipping such as Berth,Bill of Exchange,Bill of Lading ,Berth Charter Party,Beneficial Owner

 

Terms used in shipping such as Berth,Bill of Exchange,Bill of Lading ,Berth Charter Party,Beneficial Owner etc.

 

 

This post explains about terms used in shipping such as Beneficiary,Berth,BERTH CARGO,Berth,Bill of Exchange,Bill of Lading ,Berth Charter Party,Beneficial Owner,Bends 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 shipping

 

Bends:Both Ends (load and discharge port) – A term used in cargo freight tenders that helps to describe the load and discharge terms for a cargo. For example, if Full Berth Terms (FBT) applies to the loading and discharging of the cargo the term FBT BENDS would be used.

 

Beneficial Owner - This is a rail term that refers to the actual owner of the lading being shipped.

 

BENEFICIAL OWNER:The actual owner of the lading who is using a consolidator

 

Terms used in shipping such as Berth,Bill of Exchange,Bill of Lading ,Berth Charter Party,Beneficial Owner etcBeneficiary:- Entity to whom money is payable. - The entity for whom a letter of credit is issued. - The seller and the drawer of a draft.

 

Beneficiary:The seller in whose favour an L/C is issued, ie the person who will "benefit" from the L/C. (See also Letter of Credit).

 

BENELUX - "Belgium, Netherlands, Luxembourg Economic Union"

 

Benelux Economic Union - "Benelux (acronym for Belgium, Netherlands, and Luxembourg) is an economic union originally established in January 1948 and revised in January 1960. Benelux continues as an internal regional association within the European Community (EC) because the associ"

 

berth - A location alongside a quay where a ship loads or discharges cargo.

 

Berth - It is a term for the place beside a pier, quay or wharf where a vessel is loaded or discharged.

 

BERTH C/P:Term used in a voyage charter party, e.g. vessel shall proceed to Berth 2 at Falmouth.

 

BERTH CARGO:When a liner cargo vessel accepts extra cargo to fill the empty space remaining.

 

Berth Charter Party - Charter-Party in which a particular berth is nominated by the charterer. The time allowed for loading or discharging, as the case may be, does not start to count until the ship reaches the berth, unless berth is occupied in which case time starts counting when NOR is tendered.

 

Berth Liner Service - It is a regular scheduled steamship line having regular published schedules to and fro the defined trade areas.

 

BERTH LINER SERVICE:A regularly scheduled steamship line with regularly published schedules (ports of call) from and to defined trade areas.

 

Berth or Liner Terms - It is the condition of carriage followed by a shipping company. It also states that the costs for loading and unloading are borne by the carrier subject to the custom of the port concerned.

 

 

BERTH OR LINER TERMS:An expression covering assessment of ocean freight rates generally implying that loading and discharging expenses will be for the ship owner’s account, and usually applying from the end of the ship’s tackle in the port of loading to the end of the ship’s tackle in the port of discharge.

 

Berth Standard of Average Cause - Clause in a Charter-Party setting out the contribution to be made by the charterer to any claim for loss or damage to cargo for which the shipowner is liable.

 

Berth Terms:Shipped under rate that includes cost from end of ship's tackle at load port to end of ship's tackle at discharge port.

 

Berth Terms:Shipped under rate that includes cost from end of ship's tackle at load port to end of ship's tackle at discharge port. Dependent upon “local customs of the port”, it may include movement away form the side of the vessel.

 

berth: (verb) To bring a ship to a berth. (noun) The wharf space at which a ship docks. A wharf may have two or three berths, depending on the length of incoming ships.

 

Berth:a term used to describe a steam ship that has pulled into port but is anchored and waiting to dock so that it can be discharged (unloaded).

 

Berth:The place beside a pier, quay or wharf where a vessel can be loaded or unloaded.

 

BERTH:The place beside a pier, quay, or wharf where a vessel can be loaded or discharged.

 

Best Information Available - "Under GATT rules, when a respondent in an antidumping or countervailing duty case either declines to provide information, or provides inadequate information, the investigating authority has the right to resort to other information, a practice known as bes"

 

Beyond:Used with reference to charges assessed for cargo movement past a line-haul terminating point.

 

BfAi - Bundesstelle fur Aussenhandelsinformation

 

BFC - Business Facilitation Center

 

BFCE - Banque Francaise du Commerce Exterieur

 

BHC - "Bank Holding Company, British High Commission"

 

BI - Business Information Office

 

BIA - Best Information Available

 

BID - Banco Interamericano de Desarrollo

 

BIE - Bureau of International Expositions

 

Bilateral Clearing Agreement - A bilateral clearing agreement is a government-to-government reciprocal trade arrangement whereby two nations agree to a trade turnover of specified value over one or more years. The value of the products trade under the agreement is denominated in accou

 

Bilateral Investment Treaty - "A bilateral investment treaty, BIT, ensures U.S. investments abroad of national or most favored nation treatment; prohibits the imposition of performance requirements; and allows the American investor to engage top management in a foreign country without "

 

Bilateral Steel Agreements - "The U.S. negotiated ten bilateral steel agreements, BSAs, with major steel trading partners. Under BSAs, the governments agreed to reduce or eliminate state intervention -- that is, domestic subsidies and market barriers."

 

Bilateral:A contract term meaning both parties agree to provide something for the other.

 

Bill of Exchange:An unconditional order in writing, issued by the seller (drawer) instructing the buyer (drawee) to pay the seller's bank (payee) a specified amount (normally the full invoice value) on demand (at sight) or at a fixed or determinable future time. A suitable form can be obtained from the seller's bank, or drawn up on a blank sheet of paper.

 

Bill of Exchange:In the United States, commonly known as a "Bank Draft", or unconditional order in writing to pay a certain sum of money to a named person or company.

 

bill of lading - "A document issued by a shipowner to a shipper of goods. It serves as a receipt for the goods, contract of carriage, and document of title."

 

Bill of Lading - "Bills of lading are contracts between the owner of the goods and the carrier. There are two types. A straight bill of lading is nonnegotiable. A negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit and i"

 

Bill of Lading - A contract document agreement between the shipper and the customer that acts as a receipt for the goods delivered to the carrier for shipment; a definition or description of the goods; and evidence of title to the relative goods.

 

Bill of Lading ( B/L ):Bills of lading are contracts between the owner of the goods and the carrier. There are two types. A straight bill of lading is nonnegotiable. A negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit and is used for many types of financing transactions. The customer usually needs the original or a copy as proof of ownership to take possession of the goods.

 

The above details describes about terms called in shipping such as Beneficiary,Berth,BERTH CARGO,Berth,Bill of Exchange,Bill of Lading ,Berth Charter Party,Beneficial Owner,Bends 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 shipping business below this post.Terms used in shipping such as Barge,BARGE CARRIERS,Barter,Base Cargo,Bay number,Beam,Belly Cargo,Belt Line etc

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