Terms used in shipping such as Consolidation, Consolidator, CONSORTIUM, Constructed Value,Consul

 

Terms used in shipping such as Consolidation, Consolidator, CONSORTIUM, Constructed Value,Consul etc.

 

This post explains about terms used in shipping such as Consolidated Cargo, Consolidation,Consolidator,CONSORTIUM,Constructed Value,Consul,Consular Declaration,Consular Invoice,Consulate, Consular Invoice 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

 

Consolidated Cargo:Cargo containing shipments of two or more shippers, usually shipped by a firm called a consolidator. The consolidator takes advantage of lower FCL rates, and savings are passed on to shippers.

 

Consolidated Freight Station or Container Freight Station (CFS)- Location on terminal grounds where stuffing and stripping of containers is conducted.

 

CONSOLIDATED SHIPMENT:An arrangement whereby various shippers pool their boxed goods on the same shipment, sharing the total weight charge for the shipment.

 

Consolidation - The grouping together of several compatible consignments into a full container load. Also referred to as groupage.

 

Consolidation - When two or more shipments are combined to save money on freight shipping costs.

 

Terms used in shipping such as Consolidation, Consolidator, CONSORTIUM, Constructed Value,Consul etcConsolidation:Bringing together many small shipments, often from different shippers, into large shipment quantities, in order to take advantage of economies of scale in transportation costs. In-vehicle consolidation is when a vehicle makes pickups from many customers and consolidates freight inside the vehicle. Out-of-vehicle consolidation occurs at a terminal facility; shipments to a single customer/region are consolidated before shipment.

 

Consolidation:In order to handle small lot of consignment efficiently and competitively, freight forwarder usually put many consignments into one lot then tender to carrier for forwarding. In this case, each consignment will be shipped with one HAWB respectively and all of them will be under one master AWB .

 

Consolidation:The combination of many small shipments into one container.

 

Consolidation:Where a freight forwarder groups, or consolidates, one or more shipments for one or more shippers to the one destination as one overall shipment. (See also House B/L and Master B/L).

 

Consolidation;Cargo containing shipments of two or more shippers or suppliers. Containerload shipments may be consolidated for one or more consignees, often in containerload quantities.

 

consolidator: The person or firm that consolidates (combines) cargo from a number of shippers into a container that will deliver the goods to several buyers.

 

Consolidator:A firm which groups together shipments from different companies into a single shipment.

 

Consolidator:A person or firm performing a consolidation service for others. The consolidator takes advantage of lower full carload (FCL) rates, and passes on the savings to shippers.

 

CONSOLIDATOR:An agent who brings together a number of shipments for one destination to qualify for preferential rates

 

Consortia of American Businesses in Eastern Europe - The CABEE program, administered by the U.S. Department of Commerce, provides grants of up to $500,000 to each of five non-profit consortia of for-profit companies to cover up to one-half of costs of starting-up commercial operations in Eastern Europe. Launched under the American Business and Private-Sector Development Initiative for Eastern Europe, CABEE is intended to help overcome difficulties faced by small and medium-sized firms in entering Eastern Europe markets. CABEE was established in June 1991.

 

Consortia of American Businesses in the Newly Independent States - CABNIS is a cooperative, cost-sharing program of government and the private sector that helps non-profit business consortia establish a commercial presence and pursue business in the Newly Indpendent States on behalf of profit-making U.S. corporations and associations. The program provides matching government grants of up to $500,000 to each consortia. CABNIS, established in July 1992, is administered by the Commerce Department's International Trade Administration. CABNIS was established in July 1992.

 

Consortium:A group of carriers pooling resources, normally container vessels, in a trade lane to maximize their resources efficiently.

 

CONSORTIUM:The name for an agreement under which several nations or nationals (usually corporations) of more than one nation join together for a common purpose (e.g., a shipping consortium).

 

Constant - Refers to those items of a more or less permanent nature, such as crew and effects, stores, spare parts in excess of rule requirement (for example, a spare propeller and/or a spare tail shaft, neither of which are required by the rules), which have not been included in the lightweight and consequently must be deduced from the deadweight when determining the deadweight available for cargo. The word "constant" itself is a misnomer, since the constant is not forever constant but may vary from voyage to voyage depending on the amount of stores and spares on board.

 

Constructed Value - A means of determining fair or foreign market value when sales of such or similar merchandise do not exist or, for various reasons, cannot be used for comparison purposes. The "constructed value" consists of the cost of materials and fabrication or other processing employed in producing the merchandise, general expenses of not less than 10 percent of material and fabrication costs, and profit of not less than 8 percent of the sum of the production costs and general expenses. To this amount is added the cost of packing for exportation to the United States. See: Tariff Act of 1930.

 

Construction Differential Subsidy:A program whereby the U.S. government attempted to offset the higher shipbuilding cost in the U.S. by paying up to 50% of the difference between cost of U.S. and non-U.S.construction. The difference went to the U.S. shipyard. This program has not been funded since 1982.

 

CONSTRUCTION UNIT:Equipped to assist during offshore construction and maintenance work.

 

Consul - A government official residing in a foreign country who is charged with the representation of the interests of his country and its nationals.

 

Consul:A government official residing in a foreign country who represents the interests of her or his country and its nationals.

 

Consular Declaration - A formal statement describing goods to be shipped, made to the consul of the country of destination. Approval must be obtained prior to shipment.

 

Consular Declaration:A formal statement describing goods to be shipped; filed with and approved by the consul of the country of destination prior to shipment.

 

CONSULAR DOCUMENTS:Special forms signed by the consul of a country to which cargo is destined.

 

Consular Information Sheet - See: Travel Advisory Program.

 

Consular Invoice - A document, required by some foreign countries, describing a shipment of goods and showing information such as the consignor, consignee, and value of the shipment. Certified by a consular official of the foreign country, it is used by the country's customs officials to verify the value, quantity, and nature of the shipment.

 

CONSULAR INVOICE:A document required by some countries describing a shipment of goods and showing information such as the consignor, consignee, and value of the shipment. Certified by a consular official, the countryÆs customs officials to verify the value, quantity, and nature of the shipment use a consular invoice.

 

Consular Invoice:A document, certified by a consular official, is required by some countries to describe a shipment. Used by Customs of the foreign country, to verify the value, quantity and nature of the cargo.

 

Consular Invoice:The seller's commercial invoice certified, for a fee, in the exporting country by the consular representative of the importing country. Now required only by a handful of countries.

 

Consular Visa:An official signature or seal affixed to certain documents by the consul of the country of destination.

 

Consulate - See: Title and Rank.

 

Consulate - The jurisdiction, terms of office, or official premises of a consul.

 

Consultative Committee for International Telephone and Telegraphy - CCITT facilitates U.S. coordination of communications standards issues. CCITT is a part of the International Telecommunications Union (ITU), which is an international treaty organization. The State Department is responsible for coordinating and presenting U.S. positions to the ITU. See: International Telecommunications Union.

 

The above details describes about terms called in freight forwarding such as Consolidated Cargo, Consolidation,Consolidator,CONSORTIUM,Constructed Value, Consul,Consular Declaration,Consular Invoice,Consulate 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 Conference,Conformite Europeene,Conlinebill,Consignee ,CONSIGNEE MARK

Related posts about free online training on import and export business:

 

 

How to export your product?
How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Bank Pre shipment Finance to exporters
Export Promotion Councils and Commodity Boards, product wise
MEIS scheme for Indian Exporters
Mode of payments in international trade
Who are authorized to issue Certificate of origin under Generalized System of Preferences (GSP) Scheme?
Authorized agencies to issue Certificate of origin under SAFTA
Import General Manifest (IGM)
Importance of Bill of Lading
Introduction to this web site
Is Airway bill a documents of title?
Is Customs House Agents (CHA ) required to be appointed mandatory?


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers