Terms used in freight forwarding such as Purchase Order,Quay Rent,QUEENS WAREHOUSE,Radio Frequency, Ramp , Rebate,Received Bill etc.
This post explains about terms used in freight forwarding such as Port Service Charge, Purchase Order,Quay Rent,QUEENS WAREHOUSE,Radio Frequency, Ramp , Rebate,Received Bill,Reconsignment,Reefer Cargo,Reefer Container 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 freight forwarding
PSC -Port Service Charge – A charge for loading containers on and off vessels at wharf terminals. See also BSRA, APCA, THC.
PSC:Port Service Charge, similar to APCA.
PSS – Peak Season Surcharge.Peak season for ocean freight typically is June – November. Peak season for air freight is typically September – December
PTP:Port to Port.
PUBLIC WAREHOUSE:A warehouse whose owner leases space and provides services to a variety of customers.
Purchase Order (PO): The purchaser's authorization used to formalize a purchase transaction with a supplier. The physical form or electronic transaction a buyer uses when placing order for merchandise.
Purchase Order Management: The management of purchase orders.
Q Quality Control (QC): The management function that attempts to ensure that the foods or services manufactured or purchased meet the product or service specifications.
QP/WP BONDS: An electronic bond system (paperless bond) that replaces the need for a CF7512. The onus for correct information and ensuring that the bond is “cancelled” electronically lies with the shipper not TBAC, unlike the paper system where TBAC is responsible for ensuring a bond is cancelled.
Quarantine:The period during which an arriving vessel, including its equipment, cargo, crew or passengers, suspected to carry or carrying a contagious disease is detained in strict isolation to prevent the spread of such a disease.
Quay Rent - The cost for keeping a container on quay, after the free time has expired. The dock company charges this to the carrier, who will charge it on. For part shipments and airfreight, this fee is charged according to the size of the shipment. Charges vary from port to port, warehouse to warehouse.
Quay:That part of a wharf which is intended for the mooring of vessels.
QUEENS WAREHOUSE: Canadian equivalent of GO, but consignee has up to 30 days to clear freight & pay all duties/taxes.
QUOTA - The quantity of goods of a specific quantity of merchandise to be entered or withdrawn for consumption during a specific period.
QUOTA CHARGE STATEMENT - Statement from supplier/importer regarding any monies charged to purchase Quota.
Quotation - An offer to sell goods at a stated price and under stated terms.
R/T - Revenue Ton.
Radio Frequency (RF): A form of wireless communications that lets users relay information via electromagnetic energy waves from a terminal to a base station, which is linked in turn to a host computer. The terminals can be place at a fixed station, mounted on a forklift truck, or carried in the worker's hand. The base station contains a transmitter and receiver for communication with the terminals. RF systems use either narrow-band or spread- spectrum transmissions. Narrow-band data transmissions move along a single limited radio frequency, while spread- spectrum transmissions move across several different frequencies. When combined with a bar-code system for identifying inventory items, a radio-frequency system can relay data instantly, thus updating inventory records in so- called "real time."
Radio Frequency Identification (RFID): The use of radio frequency technology including RFID tags and tag readers to identify objects. Objects may include virtually anything physical, such as equipment, pallets of stock, or even individual units of product. RFID tags can be active or passive. Active tags contain a power source and emit a signal constantly. Passive tags receive power from the radio waves sent by the scanner / reader. The inherent advantages of RFID over bar code technology are: 1) the ability to be read over longer distances, 2) the elimination of requirement for “line of sight” readability, 3) added capacity to contain information, and 4) RFID tag data can be updated / changed.
Rag Top - A slang term for an open-top trailer or container with a tarpaulin cover. See Container Specs.
Ramp - Railroad terminal where containers are received or delivered and trains loaded or discharged. Originally, trailers moved onto the rearmost flatcar via a ramp and driven into position in a technique known as "circus loading." Most modern rail facilities use lifting equipment to position containers onto the flatcars.
Ramp-to-Door - A movement where the load initiates at an origin rail ramp and terminates at a consignee's door.
Rate Basis - A formula of the specific factors or elements that control the making of a rate. A rate can be based on any number of factors (i.e., weight, measure, equipment type, package, box, etc.).
Rate:The price of a transport service Quantity, amount or degree measured or applied.
Rates - Ocean rates are classified in many ways, here is just a sampling:
Rebate:That part of a transport charge which the carrier agrees to return.
Receipt For Shipment B/L:When the steamship line gives the shipper a B/L indicating that cargo has been received at the pier, but not necessarily loaded on the vessel.
Receipt:A written acknowledgement, that something has been received.
Received Bill- A Bill of Lading that indicates only that the cargo has been received into the custody of the ocean carrier; not that it has actually been shipped.
RECEIVING CARRIER: The carrier receiving the consignment from a carrier, agent or shipper or onward transportation.
Receiving Dock: Distribution center location where the actual physical receipt of the purchased material from the carrier occurs.
Receiving: The function of taking physical receipt of material and performing initial inspection of the incoming shipment for damage and validation with respect to purchase order quantity. Typically includes some initial data recording, but not quality assurance or stocking.
Reconsignment - Changing the consignee or destination on a bill of lading while shipment is still in transit. Diversion has substantially the same meaning.
Reconsignment: A carrier service that permits changing the destination and/or consignee after the shipment has reached its originally billed destination and paying the through rate from origin to final destination.
Redistribution: A trend in the foodservice distribution business where a large redistributor such as SYSCO or Dot Foods will purchase in truckload quantities from the food manufacturers and warehouse the products. Individual smaller distributors can then purchase multiple manufacturers' products from the redistributor and fill up an entire truck to save on shipping costs.
Reefer - Refrigerated container. See Container Specs.
REEFER BOX :Refrigerated container.
Reefer Cargo:Cargo requiring temperature control.
Reefer container -A container that is temperature controlled, and can therefore carry refrigerated cargo. As a generic term, it may apply to several different types of containers; including those which have their own integral cooling units, those which carry ‘clip-on’ units and those requiring external liquid gas.
Reefer Container:A thermal container with refrigerating appliances (mechanical compressor unit, absorption unit etc.) to control the temperature of cargo.
REEFER SHIP :Refrigerated ship.
The above details describes about terms called in freight forwarding such as Port Service Charge, Purchase Order,Quay Rent,QUEENS WAREHOUSE,Radio Frequency, Ramp , Rebate,Received Bill,Reconsignment,Reefer Cargo,Reefer Container 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 freight forwarding trade below this post. Terms used in freight forwarding such as Prepaid freight,Preshipment Inspection,Private Carrie, Protest,Proximate Cause
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