Terms used in shipping such as Bonded Warehouse,Booking Number,Booking,Bottom Side Rails,Box Rate

 

Terms used in shipping such as Bonded Warehouse,Booking Number,Booking,Bottom Side Rails,Box Rate etc.

 

This post explains about terms used in shipping such as Bogie,Bollard,Bond System , Bonded Warehouse,Booking Number,Booking,Bottom Side Rails,Box Rate ,Bound Rates 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

 

Boffers or BO - (asking) best offers.

 

Bogie - This is a rail term that refers to a frame with wheels on which a container is mounted for over-the-road transport.

 

BOGIE:A frame with wheels on which a container rides, more commonly referred to as a chassis

 

Terms used in shipping such as Bonded Warehouse,Booking Number,Booking,Bottom Side Rails,Box Rate etcBogie:A set of wheels built specifically as rear wheels under the container and vehicles wheels.

 

bollard: A line-securing device on a wharf around which mooring and berthing lines are fastened.

 

Bolster:A device fitted on a chassis or railcar to hold and secure the container.

 

Bona fide:In good faith.

 

Bond Port:Port of initial Customs entry of a vessel to any country. Also known as First Port of Call.

 

Bond System - "The Bond System, a part of Customs' Automated Commercial System, provides information on bond coverage. A Customs bond is a contract between a principal, usually an importers, and a surety which is obtained to insure performance of an obligation imposed "

 

Bond:Acceptable proof of financial responsibility to act as an Ocean Transportation Intermediary in the international ocean transportation of cargo, typically issued by a surety company.

 

Bonded Carrier:A carrier licensed by U.S. Customs to carry Customs-controlled merchandise between Customs points. Old Dominion is a bonded carrier.

 

Bonded Exchange - Exchange which cannot be freely converted into other currencies.

 

Bonded Freight;Freight moving under a bond to U.S. Customs or to the Internal Revenue Service, to be delivered only under stated conditions.

 

bonded warehouse: A building designated by U.S. Customs authorities for storage of goods without payment of duties to Customs until goods are removed.

 

Bonded Warehouse:A warehouse for storage or manufacture of goods on which payment of duties is deferred until the goods enter the Customs Territory. The goods are not subject to duties if reshipped to foreign points.

 

Bonded Warehouse:A warehouse in which dutiable goods are deposited until duty is paid or the goods are cleared for export. There are nine different types or classes of Customs bonded warehouses authorized in Customs and Border Protection (CBP) Regulations.

 

Bonded Warehouse:The Customs Service authorizes bonded warehouses for storage or manufacture of goods on which payment of duties is deferred until the goods enter the Customs Territory. The goods are not subject to duties if re-shipped to foreign points.

 

Bonded Warehouse;A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.

 

Book Space (to) - As a shipper or his agent, to reserve space in a ship for the carriage of certain defined goods from a place of loading to a place of discharging.

 

booking - Reservation made by a shipper or his agent with a carrier to carry certain defined goods between locations.

 

Booking - Reservation made by a shipper or his agent with a carrier for the carriage of certain defined goods between defined places.

 

Booking List - List of all cargo bookings for a particular sailing. It is compiled by a shipping line from lists sent in by the line's agents responsible for taking bookings for the various ports on the ship's itinerary.

 

Booking Number:A reference number for bookings registered with a carrier. It should be unique without duplication for a three-year period.

 

Booking Number:Reservation number used to secure equipment and act as a control number prior to completion of a Bill of Lading. Generally issued by a steamship line.

 

Booking Number:Reservation number used to secure equipment and act as a control number prior to completion of a B/L.

 

Booking:Arrangement with a steamship company for the acceptance and cartage of freight.

 

Booking:Arrangements with a carrier for the acceptance and carriage of freight; i.e., a space reservation.

 

BOP - Balance of Payments

 

Border Cargo Selectivity - BCS is an automated cargo selectivity system based on historical and other information. The system is designed to facilitate cargo processing and to improve Customs enforcement capabilities by providing targeting information to border locations.

 

Border Environment Cooperation Commission - The BECC is a U.S.-Mexican binational commission intended to facilitate border environmental clean-up and to provide additional support for community adjustment and investment related to the North American Free Trade Agreement. The BECC will assist borde

 

BOT - Balance of Trade

 

BOTB - British Overseas Trade Board

 

Both to Blame Collision Clause - Clause in a Bill of Lading or charter party which stipulates that, in the event of a collision between two ships where both are at fault, the owners of the cargo must indemnify the carrying ship against any amount paid by the carrying ship to the non-carrying ship for damage to that cargo. This clause arises because, under American law, a cargo owner is not able to make any recovery from the carrier for damage resulting from negligent navigation but may instead sue the non-carrying ship which in turn seeks recovery from the carrying ship in proportion of his fault. This would render a carrier indirectly liable for a loss for which he is not directly liable to the cargo owner. The clause has, however, been held to be invalid in the American courts when incorporated with a common carrier.

 

Bottom Side Rails:Structural members on the longitudinal sides of the base of the container.

 

Bottom-Air Delivery:A type of air circulation in a temperature control container. Air is pulled by a fan from the top of the container, passed through the evaporator coil for cooling, and then forced through the space under the load and up through the cargo. This type of airflow provides even temperatures.

 

Bound Rates - Tariff rates resulting from GATT negotiations or accession which are appended to the GATT in the form of a 'loose-leaf' tariff schedule and are enforceable under ARTICLE 11 of GATT.

 

bow - Curved forward part of a ship.

 

BOW THRUSTERS:A propeller at the lower sea-covered part of the bow of the ship which turns at right angles to the fore-and-aft line and thus provides transverse thrust as a maneuvering aid.

 

Bow:The extreme front of a vessel. The most forward part of vessel.

 

Bow:The front of a vessel.

 

Box - Another (less formal) name for a shipping container. This is how they are often referred to in the industry.

 

Box Rate - Rate of freight per shipping container, as opposed to per ton or per cubic meter. Since a box rate is unaffected by the actual quantity loaded into the container, it is in shipper's interest to load as much cargo as possible, subject to the maximum allowed, to effectively reduce the cost of carriage for each ton or cubic meter.

 

The above details describes about terms called in shipping such Bogie,Bollard,Bond System , Bonded Warehouse,Booking Number,Booking,Bottom Side Rails,Box Rate , Bound Rates 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 Bill to Party,Binding,Blanket Rate,Block Train,Blocking,Blind Shipment

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Comments


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