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Terms used in freight forwarding such as Shipment,Shipper,Shipper's Agent, Shipper's Export Declaration,Shipper's Instructions ,Shipper's Letter of Instruction etc.
This post explains about terms used in freight forwarding such Ship Operator, SHIPMENT,Shipper,Shipper's Agent, Shipper's Export Declaration,Shipper's Instructions ,Shipper's Letter of Instruction,Shipping Lane,Shipping Manifest 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
Ship Operator:A ship operator is either the shipowner or the (legal) person responsible for the actual management of the vessel and its crew.
ShipLeasing Company:The company from which property or equipment is taken on lease.
SHIPMENT (SHPT): One or more pieces of goods accepted by the carrier from one shipper at one time and at one address, receipted for in one lot and moving on one airwaybill or shipment record to one consignee at one destination address.
Shipment:A separately identifiable collection of goods to be carried. Note: In the United States of America the word shipment is used instead of the word consignment.
Shipped Bill of Lading:A bill of lading issued only after the cargoes have actually been shipped on board the vessel, as distinguished from the Received-for-Shipment bill of lading. Also see "On-board Bill of Lading".
Shipped on Board Bill of Lading-A ‘Shipped on Board’ Bill of Lading evidences the fact that the cargo has actually been loaded on board the vessel. A ‘shipped’ Bill is not issued unless the cargo is so loaded on board. This is in stark contrast to a Received Bill of Lading which evidences only that the cargo has been received at the ship’s terminal.
Shipped on-board:Endorsement on a bill of lading confirming loading of cargoes or containers on a vessel.
Shipper - The person or company who is usually the supplier or owner of commodities shipped. Also know as the consignor.
SHIPPER - Person or company who contracts with the carrier for the carriage of goods, usually the exporter.
Shipper (also called "Consignor") :The person for whom the owners of a ship agree to carry goods to a specified destination and at a specified price. The conditions under which the transportation is effected are stipulated in the bill of lading.
Shipper (Shpr) / Consignor:a person or firm that sends freight/originates the shipment of goods. A freight originator.
SHIPPER (SHPR): The person who originates the shipment of goods. Also known as the "consignor".
Shipper Owned Container (SOC) :The container used for cargo shipment is owned by the shipper.
Shipper: The party that tenders goods for transportation. Shipper-Carrier: Shipper-carriers (also called private carriers) are companies with goods to be shipped that own or manage their own vehicle fleets. Many large retailers, particularly groceries and "big box" stores, are shipper- carriers.
Shipper’s Letter of Instruction (SLI)-A document containing instructions by shipper (consignor) relating to the preparation of documents and movement of the shipment.
Shipper’s Letter of Instructions (SLI): The document containing instructions by the shipper or shipper's agent for preparing documents and forwarding.
Shipper's Agent: A firm that acts primarily to match up small shipments, especially single-traffic piggyback loads to permit use of twin-trailer piggyback rates.
Shipper's Association: A nonprofit, cooperative consolidator and distributor of shipments owned or shipped by member firms; acts in much the same was as for-profit freight forwarders.
Shipper's Declaration for Dangerous Goods:Under the regulations of the Department of Transportation, the International Air Transport Association (IATA), and the International Maritime Organization (IMO), shippers and exporters are required to declare dangerous cargos to the air and ocean carriers they use for shipment. Both the IMO and IATA require specific documents to report hazardous goods, and these requirements are published in their respective Codes. IATA also provides a document specifically for non-restricted articles.
Shipper's Export Declaration (SED):Issued by: Exporter (or freight forwarder on exporter's behalf) Purpose: U.S. Forms 7525-V and 7525-V-Alternate (for intermodal shipments) required by federal law for any commodity with value over $2,500 or any shipment requiring validated export license. Enables Bureau of the Census to compile trade statistics. Shipper or its agent submits form to carrier, which then submits SEDs for all shipments on vessel voyage or aircraft flight to U.S. Customs.
Shipper's Export Declaration (SED,"Ex Dec") - A joint Bureau of the Census' International Trade Administration form used for compiling U.S. exports. It is completed by a shipper and shows the value, weight, destination, etc., of export shipments as well as Schedule B commodity code. See AES.
Shipper's Export Declaration: SED A United States customs form to be completed for all exports to assist the government in compiling export statistics.
SHIPPER'S EXPORT DECLARATION:A form required for all shipments by the US Treasury Department and prepared by the shipper, indicating the value, weight, destination, and other basic information about an export shipment.
Shipper's Instructions - Shipper's communication(s) to its agent and/or directly to the international water-carrier. Instructions may be varied, e.g., specific details/clauses to be printed on the B/L, directions for cargo pickup and delivery.
Shipper's Interest Insurance:Insurance, arranged for by carrier if specified on the Airbill, which covers shipments against risk of physical loss or damage from any external causes.
SHIPPER'S LETTER OF INSTRUCTION (SLI): The document containing instructions by the shipper or shipper's agent for preparing documents and forwarding.
Shipper's Letter of Instruction:These instructions, often prepared along with a Shipper's Export Declaration, are the exporter's direction to the freight forwarder on how to handle the exporter's shipment. The information prepared on the SLI includes a description of the goods and containers, the ultimate consignee, shipping method desired, insurance requirements, and special instructions pertaining to the shipment.
Shipper's Load & Count (SLAC/ SL&C) - Shipments loaded and sealed by shippers and not checked or verified by the carriers.
SHIPPER'S LOAD AND COUNT:Note on bill of lading indication that the contents of a container were loaded and counted by the shipper and not checked or verified by the Steamship Company.
Shipper's Load and Count:Shipments loaded and sealed by shippers and not checked or verified by the carriers or forwarders. Neither the carriers nor the forwarders will assume any liability for shortages of cargoes as long as the container seal remains intact at the time of devanning.
SHIPPING CONFERENCE:A group of ocean carriers that set identical rates for each member of the conference. Each conference operates only between specified origin and destination ports.
Shipping Documents:Documents required for the carriage of goods.
Shipping Instruction:Document advising details of cargo and exporter's requirements of its physical movement.
Shipping Label:A label attached to a unit, containing certain data.
Shipping Lane: A predetermined, mapped route on the ocean that commercial vessels tend to follow between ports. This helps ships avoid hazardous areas. In general transportation, the logical route between the point of shipment and the point of delivery used to analyze the volume of shipment between two points.
Shipping Manifest: A document which is typically presented to the carrier outlining the individual shipping orders included in a shipment. The manifest will show the reference number of each shipping order in the load, the weight and count of boxes or containers, and the destination.
The above details describes about terms called in freight forwarding such as Ship Operator, Shipment,Shipper,Shipper's Agent, Shipper's Export Declaration,Shipper's Instructions ,Shipper's Letter of Instruction,Shipping Lane,Shipping Manifest 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 Routing,Salvage Value,Salvage,Schedule B Number,Seals on Containers ,Service Contract,Service Bill
The above information is a part of Export Import Online Tutorial
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