The information provided here is part of Import Export Training course online
Terms used in freight forwarding such as Waybill,Weight Certificate, Wharfage,XML / EDI,Yawl,Zone Charges,Zodiac,Zone Restricted etc.
This post explains about terms used in freight forwarding such Waybill,Weight Certificate,WEIGHT FACTORS,Wharfage,XML / EDI,Yawl,Zone Charges,Zodiac,Zone Restricted 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
Waybill- As distinct from a Bill of Lading, the Waybill serves as a receipt for the cargo and evidence of a contract of carriage, but is not a negotiable document of title
Waybill/ AIR Waybill (for air transport):a document that establishes the terms of contract between shipper and transportation company, specifying the obligations of both parties. It serves as evidence of a contract of carriage, and a receipt for goods. This document made out by or on behalf of the shipper.
Waybill: Document containing description of goods that are part of common carrier freight shipment. Show origin, destination, consignee/consignor, and amount charged. Copies travel with goods and are retained by originating/delivering agents. Used by carrier for internal record and control, especially during transit. Not a transportation contract.
Waybill:Non-negotiable document evidencing the contract for the transport of cargo.
Weight Cargo:A cargo on which the transportation charge is assessed on the basis of weight
Weight Certificate:The Weight Certificate, usually a certified copy of the Packing List, is occasionally required by the foreign buyer for control purposes. This type of certification may be made with an export inspection company.
Weight Charge:The charge for carriage of goods based on their weight (air cargo).
WEIGHT FACTORS :Various factors used to determine the dimensional weight (length x width x height) of a piece or pieces of freight. Most commonly used factors are: 166 cu in/lb (airfreight); 194 cu in/lb (truck)
Wharf:A place for berthing vessels to facilitate loading and discharging of cargo.
Wharfage - Charge assessed by terminal or port authority for the handling of incoming or outgoing cargo.
Wharfage: Fees for use of wharf in discharging cargo.
WHARFAGE:A charge assessed by a pier or dock owner for handling incoming or outgoing cargo.
Wharfage:see APCA, BSRA and PSC
Wharfage:The fee charged for the use of a wharf for mooring, loading or discharging a vessel or for storing goods.
Wharfage:Wharfage is a charge assessed against the ocean carriers by the owner of the wharf or pier for the cargo moves over the wharf by that carrier. In the Hawaii trade, the wharfage fees are imposed by the ports are normally passed through to the forwarders by the ocean carrier and are normally charged on a per container or per tonnage basis.
Wholesaler: See Distributor
WIP: See Work in Process
WIT: Warehouse Inspection Team, A Unit within Customs charged with monitoring bonded warehouses
WMS: See Warehouse Management System
Work-in-Process (WIP): Parts and subassemblies in the process of becoming completed finished goods. Work in process generally includes all of the material, labor and overhead charged against a production order which has not been absorbed back into inventory through receipt of completed products.
WT:Weight or Weight Ton.
X.25:International standard of the CCITT for packet switching.
X.400:A CCITT recommendation designed to facilitate international message and information exchange between subscribers of computer based store-and-forward services and office information systems in association with public and private data networks.
X.500:The CCITT now ITU recommendations (ISO9594) for the structure of directories for the maintenance of addresses used in electronic mail.
XML / EDI:The exchange of structured information over the Internet using XML as the syntax.
XML:Extensible mark-up language is an official recommendation by the World Wide Web Consortium as a successor of HTML (Hyper Text Mark-up language) it can be used to convey documents layout and contents from one computer application to another. XML is a subset of SGML.
X-ray:High frequency electromagnetic ray of short wave-length, capable of penetrating most solid substances.
Yard:Fenced off, outdoor storage and repair area.
Yaw:Variation of the course of a ship to port or starboard caused by the action of waves or wind.
Yawl:A vessel's small boat moved by one oar A small sailboat rigged fore-and-aft, with a short mizzenmast astern of the cockpit - distinguished from ketch.
Yield Bucket:The remaining slot capacity for a trade/voyage in a certain port of loading after deduction of the allowance for specific contracts.
Yield Management:The process of maximising the contribution of every slot, vessel, trade and network. Basically it should be seen as the process of allocating the right type of capacity to the right kind of customer at the right price as to maximise revenue or yield. The concept should be used in combination with load factor management.
York - Antwerp Rules:There is a general average act when, and only when any extraordinary sacrifice or expenditure is intentionally and reasonably made or incurred for the common safety for the purpose of preserving from peril the property involved in a common maritime adventure.
YORK ANTWERP Rules -The international rules that govern General Average.
Zip Code:A five (or nine) digit number that identifies every Post Office and delivery station within the United States. ZIP coded shipments will be delivered quicker than uncoded shipments.
Zodiac:A rubber dinghy. An inflatable craft for the transport of people. Zone Area, belt or district extending about a certain point defined for transport and/or charge purpose.
Zone Charges- Charges in an ocean carrier’s tariff for cartage (either pre or post- shipment) of LCL or FCL cargo.
Zone Haulage Rate:The rate for which the carrier will undertake the haulage of goods or containers between either the place of delivery and the carrier's appropriate terminal. Such haulage will be undertaken only subject to the terms and conditions of the tariff and of the carrier's Combined Transport Bill of Lading.
Zone Improvement Plan:ZIP System to simplify sorting and delivery of mail, consisting of a number of five digits (the so-called ZIP-code) for identification of the state, city or district, and the postal zone in the U.S.A. delivery areas.
The above details describes about terms called in freight forwarding such as Waybill,Weight Certificate,WEIGHT FACTORS,Wharfage,XML / EDI,Yawl,Zone Charges,Zodiac,Zone Restricted 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 Vehicle transfer, Visibility,Volumetric,Voyage,Warehouse Entry
The above information is a part of Online Training Course on howtoexportimport
Related posts about free online training on import and export business:
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
Dimension of export containers
Export Promotion Councils and Commodity Boards, product wise
SEIS scheme for exporters in India
Mode of payments in international trade
Proof of landing to claim MEIS, Merchandise Exports from India Scheme
Procedures to claim under MEIS scheme under Export of goods through courier or foreign post offices
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Triangular shipment
Types of Insurance Documents.
How to make DA mode of payment safe
How to make delay in delivery of Shipment?
How to minimize import cargo clearance time? An open logic proposal to WTO
How to obtain a duplicate BL, if original bill of lading lost