Terms used in shipping such as Carnets,Carload Rate, Carrier, Carryings, Cartage, Case

 

Terms used in shipping such as Carnets,Carload Rate, Carrier, Carryings, Cartage, Case etc

 

This post explains about terms used in shipping such as Caribbean Common Market,Carnets,Carload Rate,Carrier,Carryings,Cartage,Cartment,CARTEL,CASE 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

 

Caribbean Basin Initiative - The CBI is an inter-American program to increase economic aid and trade preferences for 28 states of the Caribbean region. The Caribbean Basin Economic Recovery Act of 1983 provided for 12 years of duty-free treatment of most goods produced in the Caribbean region. The Initiative was extended permanently (CBI II), by the Customs and Trade Act of August 1990. The 23 countries which are currently eligible for CBI beneifts include Antigua and Barbuda, the Bahamas, Barbados, Belize, the British Virgin Islands, Costa Rica, Dominica, the Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Honduras, Jamaica, Montserrat, the Netherlands Antilles, Nicaragua, Panama, St. Christopher-Nevis, St. Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago. The following countries may be eligible for CBI benefits but have not formally requested designation: Anguilla, Cayman Islands, Suriname, and the Turks and Caicos Islands.

 

Caribbean Common Market - CARICOM includes 13 English-speaking Caribbean nations: Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts-Nevis, St. Lucia, St. Vincent/Grenadines, and Trinidad and Tobago). CARICOM was established in 1973; headquarters are in Georgetown, Guyana.

 

Caribbean Development Bank - The CDB promotes economic development and cooperation by providing long-term financing for productive projects in CARICOM member countries and U.K.-dependent territories in the Caribbean. Members include: Anguilla, Antigua and Barbuda, the Bahamas, Barbados, Belize, British Virgin Islands, Canada, Cayman Islands, Dominica, France, Grenada, Guyana, Jamaica, Mexico, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, the United Kingdom, and Venezuela. The Bank was established in 1969; headquarters are in St. Michael, Barbados, West Indies. Beginning in 1977, the Inter-American Development Bank (IADB) may make loans through the CDB to all CDB members, regardless of whether those countries are members of the IADB. See: Inter-American Development Bank.

Terms used in shipping such as Carnets,Carload Rate, Carrier, Carryings, Cartage, Case etc

Caribbean/Central America Business Advisory Service - The BAS helps entrepreneurs in the Caribbean and in Central America to develop project ideas into investment proposals and to obtain long-term finance for them. The Service does not lend or invest, but does provide advice and assistance in project structuring, identification of technical and marketing partners, project appraisal, and identification of financing resources. BAS operates under the auspices of the United Nations Development Program and is managed by the World Bank's International Finance Corporation. BAS was established in 1981 as the Caribbean Business Advisory Service (CBAS). The BAS 1989 expansion to Central America extended its operations to all CBI beneficiary countries. see: Caribbean Basin Initiative.

 

CARICCM - Caribbean Common Market

 

CARICOM - Caribbean Community

 

Carload Rate;A rate applicable to a carload of goods.

 

Carnets - Customs documents permitting the holder to carry or send sample merchandise temporarily into certain foreign countries without paying duties or posting bonds. Foreign customs regulations vary widely; in some countries, duties and extensive customs procedures on sample products may be avoided by obtaining an ATA Carnet. The ATA Carnet is a standardized international customs document used to obtain duty-free temporary admission of certain goods into the countries that are signatories to the ATA Convention. Under the ATA Convention, commercial and professional travelers may take commercial samples; tools of the trade; advertising material; and cinematographic, audiovisual, medical, scientific, or other professional equipment into member countries temporarily without paying customs duties and taxes or posting a bodn at the border of each country visited. The carnets are generally valid for 12 months.

 

Carriage of Goods by Sea Act (COGSA):U.S. federal codification passed in 1936 which standardizes and sets limitations on a carrier's liability under carrier's bill of lading. U.S. enactment of The Hague Rules.

 

CARRIAGE OF GOODS BY SEA ACT:A law enacted in 1936 covering the transportation of merchandise by sea to or from ports of the United States and in foreign trades.

 

Carriage Paid To - Carriage paid to (CPT) and carriage and insurance paid to (CIP) a named place of destination. Used in place of CFR and CIF, respectively for shipment by modes other than water.

 

Carrier - A person or company who transports freight for a fee.

 

Carrier - any individual, company or corporation engaged in transporting goods. Container shipping lines are sometimes referred to as ocean carriers.

 

Carrier - Party who enters into a contract of carriage with a shipper. The carrier may be the owner or charterer of a ship.

 

CARRIER CONTAINER/SHIPPER CONTAINER:A container over which the carrier or the shipper has control either by ownership or by the acquisition thereof under lease or rental from container companies or container suppliers or from similar sources. Carriers are prohibited from purchasing, leasing, or renting a shipper-owned container.

 

Carrier, Common - It is public or privately owned firm or corporation which transports goods of others over land, sea or air for a predefined freight rate.

 

Carrier: An individual, partnership or corporation engaged in the business of transporting goods or passengers (See also: ocean carrier.)

 

Carrier:A firm that provides transportation services, typically owning and operating transportation equipment.Examples include: trucking company, railroad, airline, steamship line, parcel/express company.

 

Carrier:Any individual, company or corporation engaged in transporting cargoes.

 

Carrier:Any person or entity who, in a contract of carriage, undertakes to perform or to procure the performance of carriage by rail, road, sea, air, inland waterway or by a combination of such modes.

 

Carrier's Certificate:A certificate required by U.S. Customs to release cargo properly to the correct party.

 

Carriers Owned Containers (COC):The containers used for the transportation of cargoes belonging to the property of the carriers.

 

CARRIERS:Owners or operators of vessels providing transportation to shippers. The term is also used to refer to the vessels.

 

Carryings - Quantity of cargo carried over a period of time by a shipping line or by all the members of a liner conference. This quantity is a factor in determining the profitability of the service and the need, if any, to apply an increase to the freight rates.

 

Cartage - A trucking term that refers to shipping freight within the same city or area.

 

cartage: Originally the process of transporting by cart. Today, the term is used for trucking or trucking fees.

 

Cartage:same as delivery.

 

Cartage;Usually refers to intra-city hauling on drays or trucks.

 

Cartagena Agreement - See: Andean Pact.

 

Cartagena Group - See: Group of Eleven.

 

Cartel - An organization of independent producers formed to regulate the production, pricing, or marketing practices of its members in order to limit competition and maximize their market power.

 

CARTEL:An association of several independent national or international business organizations that regulates competition by controlling the prices, the production, or the marketing of a product or industry

 

Cartment:Customs form permitting inbond cargo to be moved from one location to another under Customs control, within the same Customs district. Usually in motor carrier's possession while draying cargo.

 

CASE - Council of American States in Europe

 

The above details describes about terms called in freight forwarding such as Caribbean Common Market,Carnets,Carload Rate, Carrier, Carryings, Cartage, Cartment, CARTEL,CASE 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 trade below this post.Terms used in shipping such as Canc.,Cancellation Clause,Captain's Protest,Carfloat,cargo handling

 

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