Terms used in shipping such as Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK

 

Terms used in shipping such as Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK etc.

 

 

This post explains about terms used in shipping such as Confirming , Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK, Consignment,Consgt. 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

 

Conference:An association of ship owners operating in the same trade route who operate under collective conditions and agree on tariff rates.

 

Confirmed Letter of Credit - A letter of credit, issued by a foreign bank, whose validity has been confirmed by an American bank. An exporter whose payment terms are a confirmed letter of credit is assured of payment even if the foreign buyer or the foreign bank defaults.

 

Confirming - Confirming is a financial service in which an independent company confirms an export order in the seller's country and makes payment for the goods in the currency of that country. Among the items eligible for confirmation are the goods; inland, air, and ocean transportation costs; forwarding fees; custom brokerage fees; and duties. Confirming permits the entire export transaction from plant to end user to be fully coordinated and paid for over time. It is mainly a European practice.

 

Terms used in shipping such as Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK etcConfirming Bank:The bank that adds its confirmation to another bank's (the issuing bank's) letter of credit and promises to pay the beneficiary upon presentation of documents specified in the letter of credit.

 

CONFISCATION:The taking and holding of private property by a government or an agency acting for a government. Compensation may or may not be given to the owner of the property.

 

Conformite Europeene - The CE mark signifies that a product meets specific EC-wide conformity assessment requirements. The mark does not endorse the quality or durability of a product, but only that it satisfies mandatory technical requirements. The designation is needed for sale of products which become subject ot Community-wide "new-approach" directives. See: European Norm.

 

Congen B/L:A standard form of bill of lading used in shipments by chartered ship.

 

Congenbill - Bill of Lading intended to be used with Gencon charter parties One of the clauses in this Bill of Lading states that it incorporates all the terms of the Charter-Party.

 

Congestion Surcharge - Extra charge applied by shipping lines, or set by liner conferences on behalf of their members, to reflect the cost of delay to their ships at a particular port caused by congestion.

 

CONGESTIONS:Port/berth delays

 

Conline Booking Note - Liner Booking Note published by BIMCO.

 

conlinebill - Liner bill of lading published by the Baltic and International Maritime Conference (B.I.M.C.O.).

 

Connecting Carrier Agreement:A connecting carrier agreement is contract between originating carrier and second party, where second party agrees to carry goods to final destination on a through bill of lading.

 

CONNECTING CARRIER:A carrier that has a direct physical connection with another or forming a connecting link between two or more carriers

 

Connecting Carrier:A carrier which has a direct connection with another carrier, under which freight is moved in joint-line service.

 

Connecting Carrier:A carrier which has a direct physical connection with, or forms a link between two or more carriers.

 

Consecutive Voyages - Successive voyages of a ship on charter to one party. The Charter-Party may stipulate the number of voyages or the total quantity of cargo to be carried or the total period during which the shipowner performs the maximum number of voyages. Consecutive is often abbreviated to consec.

 

Conseil de Cooperation Douaniere - See: Customs Cooperation Council.

 

Conseil de l'Entente - The Conseil de l'Entente (Entente Council) is an alliance of Benin, Burkina Faso, C"te d'Ivoire, Niger (all formerly part of French West Africa), and Togo (which joined in 1966). The Council was established in 1959; headquarters are in Abidjan, C"te d'Ivoire.

 

Consgt. – Consignment

 

Consign:to transfer to another's custody or charge.

 

Consignee - A term for an individual or firm to whom the goods are shipped under a bill of lading.

 

consignee - Person to whom goods are to be delivered at a particular destination by a carrier.

 

Consignee - Person to whom goods are to be delivered by the carrier at the place of destination.

 

Consignee - The person or firm named in a freight contract to whom goods have been consigned or turned over. For export control purposes, the documentation differentiates between an "intermediate" consignee and an "ultimate" consignee.

 

Consignee - The receiver of a freight shipment.

 

Consignee (Cnee):The person or company receiving the shipment. To whom it is consigned. If you’re importing goods, it’s you or your company. The Shipper sends the goods to the Consignee.

 

CONSIGNEE MARK:A symbol placed on packages for identification purposes generally consisting of a triangle, square, circle, diamond, or cross, with letters or numbers as well as the port of discharge.

 

Consignee Mark:A symbol placed on packages for identification purposes; generally a triangle, square, circle, etc. with letters and/or numbers and port of discharge.

 

CONSIGNEE:(1) The receiver of freight shipped by the shipper (consignor) (2) -The individual or company to whom a seller or shipper sends merchandise and who, upon presentation of necessary documents, is recognized as the merchandise owner for the purpose of declaring and paying customs duties.

 

Consignee::A person or company (named in the bill of lading ) to whom commodities are shipped.

 

Consignee:A person or company to whom commodities are shipped.

 

Consignee:An individual or firm to whom freight is shipped. A freight receiver.

 

Consignee:Person or company to whom commodities are shipped.

 

Consignee:The party shown on the bill of lading or air waybill to whom the shipment is consigned. Need not always be the buyer, and in some countries will be the buyer's bank. See also Bill of Lading - Order B/L and Notify Party.

 

Consignee:The person or firm named in a freight contract to whom goods have been consigned or turned over. For export control purposes, the documentation differentiates between an intermediate consignee and an ultimate consignee .

 

CONSIGNEE:The person to whom cargo is consigned as stated on the bills of lading.

 

Consigneer:the receiver of a freight shipment.

 

Consignment - Delivery of merchandise from an exporter (the consignor) to an agent (the consignee) under agreement that the agent sell the merchandise for the account of the exporter. The consignor retains title to the goods until sold. The consignee sells the goods for commission and remits the net proceeds to the consignor.

 

consignor - Person who gives goods to a carrier for delivery to a consignee.

 

CONSIGNOR:(1) The person by whom freight is shipped; shipper (2) A term used to describe any person who consigns goods to himself or to another party in a bill of lading or equivalent document. A consignor might be the owner of the goods, or a freight forwarder who consigns goods on behalf of his principal.

 

Consignor:A person or company shown on the bill of lading as the shipper.

 

The above details describes about terms called in freight forwarding such as Confirming,Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK, Consignment,Consgt. 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 Compensation, Conbill, COMSAT, Concession, Concealed Loss , Conference

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