Terms used in business such as Free Port,Free Trade Zone,Free on truck,Free on rail,Freeware,Freight Forwarder etc


Terms used in business such as Free Port,Free Trade Zone,Free on truck,Free on rail,Freeware,Freight Forwarder etc.



This post explains about terms used in business such as Fraud,Free Market,Free On Board,Free Port,Free Trade Zone,Free on truck,Free on rail,Freeware,Freight Forwarder 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 business


Fraud: the use of dishonesty, deception. or false representation in order to gain a material advantage or to injure the interest of others.


Free Alongside Ship (FAS) - The seller is obligated to place goods alongside the ship at a specific port.


Free Alongside Ship:When a price is quoted free alongside ship, it means that the price includes free delivery of the goods alongside the ship/named by the buyer who will bear the cost of loading them on a ship.


Free Collective Bargaining - A situation in which workers and union members meet with employers to discuss working conditions, pay, etc., in talks that are not limited by law or government.


Free Enterprise - An economic system in which private businesses have the freedom to compete with each other for profit, with minimal interference from the government.


Terms used in  business such as Free Port,Free Trade Zone,Free on truck,Free on rail,Freeware,Freight Forwarder etcFree enterprise: the trade carried on in a free-market economy, where resources are allocated on the basis of supply and demand.


Free Market - A market in which prices of goods and services are affected by supply and demand, rather than government regulation.


Free Market - The type of market in which goods and services cross borders freely, unrestrained by tariffs or any other sort of barrier to trade.


Free market: a market in which supply and demand are unregulated except by the country's competition policy, and rights in physical and intellectual property are upheld.


Free Movement / Libre Circulation :One of the principal characteristics of the domestic European market: the movement of goods between Member States of the European Union should take place without obstacles of any nature, be they quantitative, tariff-related, fiscal or normative. This principle has, in fact, been enshrined as an objective in other free trade and Customs Union agreements.


Free On Board - Maritime trade term. The supplier delivers the goods to a ship at a specified port. The supplier then pays the shipping costs after obtaining official clearance. Once they have been put on board, the buyer is then responsible for the goods.


Free On Board (FOB) - A trade term requiring the seller to deliver goods via a method of transportation designated by the buyer. The seller fulfills its obligations to deliver when the goods have passed through the seller's ownership and prepared for delivery to the buyer.


FREE ON BOARD (FOB):Commercial term in which the seller's obligations are fulfilled when the goods reach a point specified in the contract.


Free on Board Endorsement (FOB) - Used with FOB (Free on Board), FAS, C&F, or CFR (but not CIF) quotations, FOB sales endorsement to an open marine policy can cover transit risk from the point of origin until title transfers. In these instances, the exporter relies on the importer to insure.


Free on rail (FOR) / Franco wagon :A condition of sale where the seller pays to deliver the goods to a railway station and ensures that they are loaded onto wagons ready for transportation.


Free on truck (FOT) / Franco camion :A condition of sale where the seller pays to deliver the goods to a specified transport depot and ensures that they are loaded onto trucks or lorries ready for transportation.


Free Port - A port where goods can be brought and stored temporarily, without custom duties having to be paid, before being shipped to another country.


Free Port - An area such as a port city into which merchandise may legally be moved without payment of duties.


Free Port:It is a port where no export or import duty is levied.


Free Rider - A person or organisation that enjoys benefits and services provided by others, and doesn't pay their fair share of the costs.


Free trade / Libre échange :A situation where there are no restrictions (tariffs) on the import and export of goods.


Free Trade Area of the Americas (FTAA) - A proposed hemispheric trade zone that would cover all of the countries in North, South, and Latin America. The FTAA is highly controversial.


Free Trade Zone / Zone de libre-échange :A part of the territory of a state where any goods introduced are generally regarded, in so far as import duties and taxes are concerned, as being exempted (Kyoto Convention.)


Free Trade Zone - An area designated by the government to which goods may be imported for processing and subsequent export on duty-free basis. Merchandise may be stored, used or manufactured in the zone and reexported without duties being paid.


Free Zone - An area in a country where importers can store foreign goods, prior to further transportation, without having to pay customs duties or taxes on them.


Freebie: a product or service that is given away, often as a business promotion.


Freeconomics - A situation in which companies provide certain goods and services for free, and those businesses who don't follow suit are likely to fail.


Freedom Of Association - The right of individuals to join together to form, or join an existing, group or organisation, including a union.


Freelance / Freelance :Independent designer-editor or layout artist, working exclusively on his or her own account.


Freely Floating Exchange Rate System - An exchange rate system in which currency values are allowed to fluctuate according to supply and demand forces in the market without direct interference by government authorities.


Freeport / Zone franche :Zone where goods can be stocked without payment of any taxes and charges till they have crossed the border.


Freepost - A UK postal system, usually used in business, in which the recipient business pays the postage on mail, rather than the sender or customer.


Freeware - Computer software that is copyrighted by the author and offered, usually on the Internet, free of charge.


Freight Forwarder - An independent business that handles export shipment on behalf of the shipper without vested interest in the products. A freight forwarder is a good source of information and assistance on export regulations and documentation, shipping methods, and foreign import regulations.


Freight Forwarder: an organization that collects shipments from a number of businesses and consolidates them into larger shipments for economics of scale.


Freight Shippers - Agents used to coordinate the logistics of transportation. Also known as freight forwarders.


Freight: goods loaded for onward transport, most often by sea or by air.


Frequency / Frequence :Number of purchases completed by a client during a given period (see Amount and Recentness).


Frictional Unemployment:It signifies unemployment that arises out of the working forces not being completely interchangeable or mobile, so that in spite of having unsatisfied demand for manpower, the-unemployed men are not the right sort or not in the right place to meet the demand.


Fringe Benefit - A benefit given to employees in addition to their salary, such as a company car, pension scheme, paid holidays, etc.


FRL :Free and Reduced Lunch.


Front-End Load - A fee charged for an investment, for example an insurance policy, limited partnership, mutual fund, etc. The fee is made with the initial payment, and subsequent payments are therefore lower.


The above details describes about terms called in business such as Fraud,Free Market,Free On Board,Free Port,Free Trade Zone,Free on truck,Free on rail,Freeware,Freight Forwarder 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 business trade below this post.Terms used in trade such as such Forfeiture,Forward Integration, Forward procurement,Forwarding Agents,Foul Bill of Lading etc

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