Terms used in shipping such as Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible etc

 

 

Terms used in shipping such as Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible etc.

 

This post explains about terms used in shipping such as Third Country Initiative,Third Freedom Right,THROUGH PRICE,Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible 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

 

THIRD ASSISTANT ENGINEER:In charge of eight to twelve watch. Maintains lighting fixtures. Repairs malfunctioning accessories in living quarters. Assist other engineers as directed.

 

Third Country Initiative - The TCI was created to help countries establish an export control system on strategic commodities. Such countries, while not members of CoCom, would establish export control systems that provide levels of protection as close as possible to those provided by CoCom. Such systems include: (a) import certifications and delivery verifications, (b) controls over reexports of CoCom-origin, controlled goods and indigenous exports of CoCom-controlled goods, (c) cooperation in pre-licensing and post-shipment checks, and (d) cooperation on enforcement matters. The United States supports the third country initiative through section 5(k) of the Export Administration Act, which allows it to provide selected non-CoCom countries with the same licensing benefits provided to CoCom members.

 

Third Country Meat Directive - The TCMD is a regulation by which the European Community controls meat imports based on sanitary requirements. The TCMD requires individual inspection and certification by EC veterinarians of U.S. meat plants wishing to export to the EC.

 

Third Freedom Right - It is a term where the cargo is carried by an airline, from the base country to a foreign country.

 

Terms used in shipping such as Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible etcTHIRD MATE:In charge of eight to twelve watch. Makes sure emergency survival equipment (lifeboats, life rings, etc.) is in order. Assists other officers as directed.

 

Threshold Value - The dollar value of contracts above which government entities are covered by the government procurement code.

 

Through Bill of Lading - Bill of Lading issued by a shipping line for a voyage requiring on-carriage, thus involving at least one transshipment. According to the particular contract, the issuer of the Bill of Lading may be responsible for the goods throughout the voyage or only for one leg, acting as agent for the on-carriage. Often referred to simply as a through bill.

 

THROUGH PRICE:he price applicable from point of origin to destination; may be a joint price or a combination of two or more prices

 

Through Rate - A through rate applies to the distance between the point of origin and the delivery destination.

 

Through Rate:The total rate from the point of origin to final destination.

 

Through Service (Thru Service):A combination of transportation by sea and land (Thru Service) services to/from the point of origin to final destination.

 

Throughput Charge:The charge for moving a container through a container yard off or onto a ship.

 

TIAS - Treaties and Other International Acts Series

 

TIB - Temporary Importation under Bond

 

TIB (TEMPORARY IMPORTATION UNDER BOND):A U.S. Customs’ temporary admission into the U.S.A. under a conditional bond for articles not imported for sale or for sale on approval.

 

TIC - Trade Information Center

 

TIEA - Tax Information Exchange Agreement

 

Tied Aid Credit - Tied aid credit refers to the practice of providing grants and/or concessional loans, either alone or combined with export credits, linked to procurement from the donor country.

 

Tied Loan - A loan made by a government agency that requires a foreign borrower to spend the proceeds in the lender's country.

 

Tier number: The three-dimensional position of the containers on the vessel. The deck and house have different numbering methods. The containers are both numbered from top to bottom, and a “D” is added in front of the number for the deck, while an “H” is added for the house.

 

TIFTs - Trade and Investment Facilitation Talks

 

Time - Frequently used term to mean laytime.

 

Time Charter - The hiring of a ship from a shipowner for a period of time. Under this type of contract, the shipowner places his ship, with crew and equipment, at the disposal of the charterer, for which the charterer pays hire money. Subject to any restrictions in the contract, the charterer decides the type and quantity of cargo to be carried and the ports of loading and discharging. He is responsible for supplying the ship with bunkers and for the payment of cargo handling operations, pod charges, pilotage, towage and ship's agency. The technical operation and navigation of the ship remain the responsibility of the shipowner. A ship hired in this way is said to be on time charter.

 

Time Charter:A charter party hiring a vessel for a specified period of time in which the ship owner provides the vessel, bunkers and crew while the charterer supplies the cargo.

 

Time Charter:A charter party hiring a vessel for a specified period of time or a particular voyage, in which the shipowner provides the vessel and crew while the charterer supplies the cargo. Also known as non-demise charter.

 

Time Charter:A charter party is a contract which specifies under what terms and conditions a vessel is hired. Vessels are hired for a specified period of time or a particular voyage in which the ship owner provides the vessel and crew, while the person or persons chartering the ship solicits the cargo.

 

Time Charterer - A person or company who hires a ship for a period of time.

 

Time Charter-Party - A document containing the terms and conditions of a contract between a charterer and a shipowner for the hire of a ship for a period of time.

 

Time Draft:A draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft.

 

Time Lost Waiting for Berth to Count - A Charter-Party expression which denotes that the laytime are to start from the time the Notice of readiness is presented by the master to the charterer's agent, ever, though vessel is held up because no berth is available.

 

Time reversible - Overall calculations of laydays, in loading and discharging in a voyage Charter-Party. Time saved in loading can be made up fro time lost, if any, in discharging or vice versa.

 

Time Sheet - Statement, drawn up by the ship's agent at the loading and discharging ports, which details the time worked in loading or discharging the cargo together with the amount of laytime used. This latter figure, when compared with the time allowed in the voyage Charter-Party, is used by the shipowner and charterer to calculate demurrage or despatch, as the case may be.

 

Time to Begin on Arrival - A Charter-Party clause referring to the laytime in the strict sense that time is to count immediately on rival at the port of loading or discharging irrespective whether a berth is available or not.

 

Time-Critical - When a freight shipment delivery is set to the earliest possible time.

 

Time-Definite - Time-definite deliveries guarantee that the delivery will occur on a specific day or time of day.

 

TIMS - Textiles Information Management System

 

TIR: "Transport International par la Route." Road transport operating agreement among European governments and the United States for the international movement of cargo by road. Display of the TIR carnet allows sealed containerloads to cross national frontiers without inspection.

 

TIR:Transport International par la Route. Road transport operating agreement among European governments and the United States for the international movement of cargo by road. Display of the TIR carnet allows sealed containerloads to cross national frontiers without inspection.

 

The above details describes about terms called in shipping such as Third Country Initiative,Third Freedom Right,THROUGH PRICE,Tied Loan,Tier number,Time,Time Charter-Party,Time Draft,Time reversible 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 Statute Of Limitation,steamship agent,steamship company,State Trading Enterprises

 

Related posts about free online training on overseas trade:

 

How to export your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Documentation procedures on high sea sale
How to get non preferential Certificate of Origin, state wise
Types of export containers
SEIS scheme for exporters in India
How does Letter of Credit work?
Who are authorized to issue Certificate of origin under Generalized System of Preferences (GSP) Scheme?
Authorized agencies to issue Certificate of origin under SAFTA
GSP, a brief guide to exporters
What is VACIS exam in US import customs clearance
When can an exporter release bill of lading from shipping company?
When does exporter get EP copy of shipping bill after customs clearance
How does CFR term of delivery work in Export Import business
How does comprehensive policy of ECGC work for exporters?
The role of CBEC - Central Board of Excise and Customs in India.
The role of Export Inspection Agency in Pre-shipment Inspection & Quality Control
The role of Reserve Bank of India
The Role of the International Chamber of Commerce (ICC)
Negotiation procedures and formalities of export bills
Non receipt of Cargo Arrival Notice, Can importer sue against shipping company
OBJECTIVES OF CUSTOMS CONTROL for EXPORT GOODS
OBL not released OBL not surrendered no telex release
Payment procedures in Triangular exports


Discussion Forum

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