Terms used in shipping such as Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank

Terms used in shipping such as Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank etc.

 

 

This post explains about terms used in shipping such as Free of all average,Fair average quality,Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank,Fire risk only,Fishing vessel clauses 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

 

EXW: Ex Works. Under this term, the price quoted applies only at the point of origin and the seller agrees to place the goods at the disposal of the buyer at a specific place on the date or within the period fixed. All other charges are for the account of the buyer.

 

Ex-Works:An Incotem of sale meaning the seller deliverers to the buyer at seller’s named premises.

 

F - Free Out

 

F. & A.P. - Fire and allied perils

 

F. & D. - Freight and demurrage

 

f.a. - Free alongside

Terms used in shipping such as Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank etc

F.a.a. - Free of all average

 

f.a.c. - Fast as you can

 

F.A.O. - Food and agriculture Organization (U.N.)

 

f.a.q. - Fair average quality

 

f.a.s. - Free alongside ship, Firsts and seconds (American lumber)

 

f.c. & s. - Free of capture and seizure

 

F.C.A.R. - Free of claim for accident reported

 

F.C.I. - Full container loads

 

F.C.I.I. - Fellow of the Chartered Insurance Institute

 

F.C.V. - Full contract value, Full completed value

 

f.d. - Free discharge. Free delivery. Free despatch. Free docks

 

F.D.A.:Food and Drug Administration

 

F.D.O. - For declaration purposes only

 

f.f.a. - Free from alongside, Free foreign agency

 

F.F.O. - Fixed and floating objects

 

F.G.A. - Foreign general average

 

f.h. - Fore hatch

 

f.i - Free-in

 

f.i.a. - Full interest admitted

 

f.i.b. - Free into bunkers. Free into barge

 

F.I.C.S. - Fellow of the Institute of Chartered Shipbrokers

 

 

 

F.I.L. - Foreign insurance legislation

 

f.i.o. - Free-in-and-out

 

f.i.o.s. - Free in and out stowed

 

f.i.o.s.t. - Free in and out stowed and/or trimmed

 

f.i.o.t. - Free in and out trimmed

 

f.i.t. - Free of income tax

 

f.i.w. - Free in wagon

 

F.L.E. - Fire, lightning and explosion

 

f.o. - For orders, Firm offer, Full out terms (grain trade)

 

F.O.B Origin:“F.O.B. Origin” means that title and risk pass to the buyer at the moment of the seller’s delivery to the carrier. The parties may agree to have title and risk pass at a different time or to allocate freight charges by a written agreement.

 

F.O.B. Destination:“F.O.B. Destination” changes the location where title and risk pass. Under this arrangement, title and risk remain with the seller until they have delivered the freight to the delivery location specified in the contract.

 

F.O.C. - Flag of convenience, Free ofcommission, Free of charge, Free of claims

 

f.o.c. - Free on car, Free of charge

 

f.o.d. - Free of damage

 

F.O.M. - Flag, ownership and management

 

F.O.N.A.S.B.A. - Federation of National Association of Shipbrokers and Agents

 

f.o.q. - Free on quay

 

f.o.r. - Free on rail

 

f.o.r.t. - Full out rye terms (grain trade)

 

f.o.s. - Free on steamer

 

F.O.S.F.A. - Federation of Oils, Seeds & Fats Associations

 

f.o.t. - Free on truck

 

f.o.w. - Free on wagon. First open water

 

F.P. - Fully Paid. Floating (or open) policy

 

F.P.A. - Free of Particular Average

 

F.P.A.:See "Free of Particular Average."

 

F.P.I.L. - Full premium if lost

 

F.P.T. - Forepeak tank

 

f.r. & c.c. - Free of riots and civil commotions

 

F.R.C. - Free of reported casualty

 

F.R.O. - Fire risk only

 

f.r.o.f - Fire risk on freight

 

f.s.l. - Full signed line (insurance)

 

F.S.R. & C.C. - Free of strikes, riots and civil commotions

 

f.t. - Full terms; despatch money, payable on all time saved on the chartered time for loading and discharging the cargo.

 

F.T.A. - Freight Transport Association and Agents

 

f.t.r.r. & i. - For their repective rights and interests

 

F.V.C. - Fishing vessel clauses

 

f.w.d. - Fresh water damage

 

f.w.l. - Full written line (insurance)

 

 

 

F.W.P.C.A. - Federal Water Pollution Control Act (USA)

 

F.W.T. & G.D. - Fair wear, tear and gradual deterioration

 

The above details describes about terms called in shipping such as Free of all average,Fair average quality,Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank,Fire risk only,Fishing vessel clauses 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 ,Export Statistics,Exporter's Sales Price,Express release Bill,Extended Fund Facility,Extra-length Surcharge

Related posts about free online training on overseas trade:

 

 

How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Different types of export containers
How to get GSP certificate of origin in India?
Types of export containers
Foreign Trade Policy of India 2015-20
How to get End User Certificate
E BRC, Electronic Bank Realization Certificate
EDI Procedure for claiming benefits for Third Party exports
Procedures to apply online with DGFT offices
How is IGM filed under high sea sale?
How many of you know the meaning of Exports and Imports in India?
How many types of imports in India. Types of bills of Entry in India
How many types of shipping bills in export
How to add Line number in Import General Manifest in Custom in India
How to amend AWB number in Import General Manifest (IGM)







Discussion Forum

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