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Terms used in freight forwarding such as carnet,carrier’s lien,carriers certificate,cash against documents etc.
This post explains about terms used in freight forwarding such as carriage,carrier haulage,carnet,carrier’s lien,carriers certificate,cash against documents,cellular vessel,certificate of analysis,certificate of compliance 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
CARNET - A Customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries for display, demonstrations, or similar purposes without paying duties or posting bonds. A carnet is like a passport for freight, allowing it in and out of countries with minimal paperwork. Freight covered by a carnet is only imported temporarily into foreign countries. It may not remain permanently in another country and must be exported.
CARRIAGE OF GOODS BY SEA ACT (C.O.G.S.A.):1936 U.S. Statute that governs the acts that a carrier is responsible for and defines the terms used in shipping. The act provides that the shipowner's liability will be limited to $500 per shipping package, and it stipulates a one-year time limit for filing suit against the carrier. This act automatically applies to international ocean movements but not to domestic ocean transits unless the carrier agrees to be bound by it.
CARRIAGE: Also referred to as "transportation", means carriage of cargo by air.
Carriage:The process of transporting (conveying) cargo, from one point to another. Carriage Paid To (...named place of destination) Abbreviation: CPT Carriage and Insurance Paid To (...named place of destination) Abbreviation: CIP
Carrier - Any person or entity who, in a contract of carriage, undertakes to perform or to procure the performance of carriage by rail, road, sea, air, inland waterway or by a combination of such modes.
Carrier - 1. Anyone who carries cargo or passengers by road, rail, sea or air.2. (Air) The air carrier issuing the Air Waybill and all air carriers who carry or undertake to carry cargo.3. Under INCOTERMS can be defined as any body [eg. Forwarder] taking responsibility for the movement of the cargo).
CARRIER - Usually means Steamship Company, but can also refer to trucking company, airline, or railroad as a transporter of cargo.
Carrier Certificate and Release Order (Carrier Certificate) - Used to advise Customs of the details of the shipment, its ownership, port of lading, etc. By means of this document, the carrier certifies that the firm or individual named in the certificate is the owner or consignee of the cargo.
Carrier Certificate and Release Order:Used to advise Customs of the shipment's details. By means of this document, the carrier certifies that the firm or individual named in the certificate is the owner or consignee of the cargo.
Carrier Haulage:The inland transport service, which is performed by the sea-carrier under the terms and conditions of the tariff and of the relevant transport document.
CARRIER : Any person or entity who, in a contract of carriage, undertakes to perform or to procure the performance of carriage by rail, road, sea, air, inland waterway or by a combination of such modes.
CARRIER: The transportation carrier issuing the airwaybill and creating the shipment record and all other carriers that carry of undertake to carry the cargo under the airwaybill or shipment record or to perform any other services related to such air carriage.
Carrier’s Lien -The right of a carrier to hold cargo pending payment of freight charges, or of general average deposits and guarantees.
Carriers Bill of Lading Ports:Terminal, Pre-terminal port or Post-terminal Port as per tariff, indicated on the Bill of Lading and which is not the port physically called at by Carriers' ocean vessels. Note: Under normal circumstances in the B/L only ports should be mentioned which are actually called at.
CARRIERS CERTIFICATE - A document issued by the importing carrier or forwarder certifying the named party is the owner of the shipment described in the document and that the carrier does not hold a lien against the shipment. This document is used in the event the shipment remains under Customs control after it is picked up from the carrier's terminal. A carriers certificate is not required in all ports.
Carriers Lien:When the shipper ships goods 'collect', the carrier has a possessory claim on these goods, which means that the carrier can retain possession of the goods as security for the charges due.
Carriers Owned Containers (COC) :The containers used for the transportation of cargoes belonging to the property of the carriers.
Cartage - See Drayage
Cartage:Abbreviation: CAD Terms of payment: if the buyer of goods pays for the goods against transfer of the documents, entitling him to obtain delivery of the goods from the carrier.
Cash against Documents (CAD):An arrangement whereby the buyer pays for goods as soon as the buyer receives the seller's documents. There is normally an intermediary involved, ie a bank or an agent acting on behalf of the seller, to ensure that the transaction takes place smoothly.
Cash In Advance: A method of making payment for goods. Buyer must pay for goods before they are shipped.
Cash On Delivery:Abbreviation: COD Terms of payment: if the carrier collects a payment from the consignee and remits the amount to the shipper (air cargo).
CASS -Cargo Agent’s Settlement System – A division of IATA
Caveat Emptor:Let the buyer beware, purchaser must ascertain the condition of the goods to be purchased prior to the purchase.
CBFCA- Customs Brokers & Forwarders Council of Australia
CBM - Cubic Meter.
CBM (CM)- Abbreviation for "Cubic Meter."
CBM (CM) :Cubic metre.
CBM:Cubic Meter (35.314 cubic Feet = 1 CBM).
CBP: U.S. Customs and Border Protection of the Department of Homeland Security
CC Fee- Charges Collect Fee. See Collection Fee
Cell Guides: Upright metal fasteners welded to the ship's deck to secure the containers for the sea journey.
Cellular Vessel- A ship specially designed for carrying containers. The holds are fitted with vertical guides within which the containers are stacked and horizontally restrained.
CENSA:Council of European and Japanese National Shipowner's Associations.
CENSUS WARNING - The Bureau of Census is another government agency that is linked up to the Customs ABI system. This agency collects data on volumes, commodities, values and origin of imported goods. When a broker receives a census warning via ABI, it means that the data entered for that shipment is out of line with the statistics kept by the Bureau of Census for that commodity.
Certificate of Analysis (COA): A document, often required by an importer or governmental authorities, attesting to the quality or purity of commodities.
Certificate of Classification:A certificate, issued by the classification society and stating the class under which a vessel is registered.
Certificate of Compliance: A document, often required by an importer or governmental authorities, attesting to the quality or purity of commodities. The origin of the certification may be a chemist or any other authorized body such as an inspection firm retained by the exporter or importer.
CERTIFICATE OF INSPECTION:A document often required with shipments of perishable or other goods, when certification notes the good condition of the merchandise immediately prior to shipment.
CERTIFICATE OF MANUFACTURE:A statement sometimes notarized by a producer, usually also the seller, or merchandiser that indicates the goods have been manufactured and are at the disposal of the buyer.
The above details describes about terms called in freight forwarding such as carriage,carrier haulage,carnet,carrier’s lien,carriers certificate,cash against documents,cellular vessel,certificate of analysis,certificate of compliance 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 overseas trade below this post. Terms used in freight forwarding such as insurance and freight,cabotage,currency adjustment factor ,cage code
The above information is a part of Import Export Training online
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