Terms used in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal etc

 

Terms used in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal etc.

 

 

This post explains about terms used in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal 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

 

 

 

Technology - BXA regulations define technical data as "information of any kind that can be used, or adapted for use, in the design, production, manufacture, utilization, or reconstruction of articles or materials. Technology can be either "tangible" or "intangible." Models, prototypes, blueprints or operating manuals (even if stored on recording media) are examples of tangible technology. Intangible technology consists of technical services, such as training, oral advice, information guidance and consulting.

 

 

Technology Transfer - This term is used to characterize "the transfer of knowledge generated and developed in one place to another, where is it is used to achieve some practical end." Technology may be transferred in many ways: by giving it away (technical journals, conferences, emigration of technical experts, technical assistance programs); by industrial espionage; or by sale (patents, blueprints, industrial processes, and the activities of multinational corporations).

 

 

Telex Release:A Telex release is the industry term for the release of cargo at one port when the original bill of lading has been surrendered at another. Seen most frequently with NSCSA and MSC. (NSCSA will only telex release)

 

 

Terms used in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal etcTelex Release:Telex release and Express release are terms that refer to the electronic handover of the Bill of Lading. Traditionally the Original B/L is posted by the Shipper to the Consignee and in turn it must be forwarded on before the goods can be released. Telex release is instant so has become the favoured option.

 

 

Telex:Used for sending messages to outside companies. Messages are transmitted via Western Union, ITT and RCA. Being replaced by fax and internet.

 

Temperature Controlled Cargo - It is a term used for any cargo, which requires carriage under controlled temperature.

 

TEMPERATURE CONTROLLED CARGO:Any cargo requiring carriage under controlled temperature.

 

Temperature Recorder:A device to record temperature in a container while cargo is en route.

 

Temporary Importation under Bond - When an importer makes entry of articles brought into the United States temporarily and claimed to be exempt from duty under Chaper 98, Subchapter XIII, Harmonized Tariff Schedule of the United States, a bond is posted with Customs which guarantees that these items will be exported within a specified time frame (usually within one year from the date of importation). Failure to export these items makes the importer liable for the payment of liquidated damages for breach of the bond conditions. (See 19 CFR 10.31.). The Temporary Importation under Bond (TIB) is usually twice the amount of duties and other payments the importer would otherwise be required to pay. Merchandise imported under TIB is usually for sales demonstration, testing, or repair.

 

Tender Notice of Readiness (to) - As master of a ship to present cargo interests or their agent with written notice that the ship has arrived and is ready to load or discharge, as the case may be. some charter parties provide that this notice may be offered at certain times only, for example during office hours.

 

Tender:The offer of goods for transportation or the offer to place cars or containers for loading or unloading.

 

Tenor:The period of time before a bill of exchange falls due for payment

 

Tenor:Time and date for payment of a draft.

 

Term Draft:A bill of exchange drawn for a period other than at sight or on demand.

 

Terminal Charge:A charge made for a service performed in a carrier's terminal area.

 

Terminal Handling Charge (THC):A charge made for a service performed in a carrier's terminal area.

 

Terminal Handling Charge:(THC) A charge of carriers for recovering the costs of handling FCLs at container terminals at origin or destination.

 

terminal operator: The company that operates cargo handling activities on a wharf . A terminal operator oversees unloading cargo from ship to dock, checking the quantity of cargoes versus the ship’s manifest (list of goods), transferring of the cargo into the shed, checking documents authorizing a trucker to pick up cargo, overseeing the loading/unloading of railroad cars, etc.

 

Terminal Receiving Charge (TRC):A charge assessed by the terminal for cargoes being delivered for export.

 

TerminalTransportation facility with one or more of the following roles:1. System access: terminals are points at which freight enters and leaves the transportation system.2. Freight consolidation/distribution3. Mode transfer: freight may change from one mode to another, for example, rail to truck.4. Vehicle transfer: within a single mode, freight may transfer from one vehicle to another.5. Storage and warehousing 6. Fleet maintenance

 

Terms of Reference - TOR is World Bank parlance referring to the preparation of a description of the assignment for consultants to be selected by borrowers following World Bank procedures.

 

Terms of sale:The point at which sellers have fulfilled their obligations so the goods are said to have been delivered to the buyer. They are shorthand expressions that set out the rights and obligations of each party when transporting the goods.The different types of Terms of Sale are:FCA/FOB (Free Carrier/Free on Board). Free Carrier at a named port of export. The seller quotes the buyer a price that covers all costs up to and including delivery of goods aboard an overseas vessel (e.g. airplane).

 

The above details describes about terms called in shipping such as Technology,Technology Transfer,Telex Release,Tenor,Terminal Receiving Charge,Terminal 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 Tare Weight,Tariff,Tariff Anomaly,Tariff Schedule ,Tariff Quota,Tariff Escalation Terms used in shipping such as Telegraphic transfer,Total loss,Trade Assistant,Technical Advisory Committee

 

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