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Terms used in freight forwarding such as insurance and freight,cabotage,currency adjustment factor ,cage code etc .
This post explains about terms used in freight forwarding such as cost and freight,insurance and freight,cabotage,currency adjustment factor ,cage code,canal transit due,cargo control no.,cargo manifest,cargo selectivity 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
C & F (Cost and Freight - also known as CFR) :A term of trading in which the buyer of the goods pays an amount which covers the cost of the goods plus the cost of transporting the goods from origin to the port of discharge or final destination.
C & I -Cost and Insurance
C&F:(Cost and Freight) Seller owns goods until they are loaded on vessel; selling price includes all costs so far plus cost of freight. The buyer is responsible for insurance.
C.A.F. :Currency adjustment factor.
C.B.R. :Commodity box rate.
C.F.S.: Container freight station.
C.I.F. :Cost, insurance and freight.
C.I.F.:(Cost, Insurance and Freight.) Seller owns goods until they are loaded on vessel; selling price includes cost of goods, insurance, and freight.
C.O.D. : Abbreviation for:- Collect (cash) on Delivery. - Carried on Docket (pricing).
C/:Consignee.
C/P: Charter party.
C/V: Certificate of value
C/VO :Certificate of value and origin
C/Y:Container yard.
CABAF -Combined Currency Adjustment Factor and Bunker Adjustment Factor.
Cabotage:Transport of goods between two ports or places located in the same country.Transport of cargo in a country other than the country where the vehicle is registered road-cargo).The carriage of a container from a surplus area to an area specified by the Owner of that container, in exchange of which and during which the operator can use this container.
CAF (Currency Adjustment Factor) :An ancillary charge on ocean freight to compensate for exchange rate fluctuations.
CAF:Adjustment applied by P&O Nedlloyd lines or liner conferences on freight rates to offset losses or gains for carriers resulting from fluctuations in exchange rates of tariff currencies.
CAF:Currency Adjustment Factor - an adjustment to shipping companies' freight rates to take into account the effect over time of fluctuations in currency exchange rates.
CAGE Code: The Commercial and Government Entity code is a 5 character (number and letters) code used to identify contractors doing business with the U.S. Government.
Cage: (1) A secure enclosed area for storing highly valuable items, (2) a pallet-sized platform with sides that can be secured to the tines of a forklift and in which a person may ride to inventory items stored will above the warehouse floor.
Caged: Referring to the practice of placing high-value or sensitive products in a fenced off area within a warehouse.
Calculation: length x width x depth
Call Sign:A code published by the International Telecommunication Union in its annual List of Ships' Stations to be used for the information interchange between vessels, port authorities and other relevant participants in international trade. Note: The code structure is based on a three digit designation series assigned by the ITU and a one digit assigned by the country of registration.
Call:The visit of a vessel to a port.
CAN: Customs assigned number
CANADA CUSTOMS: Canadian equivalent of US Customs & Border Protection (CBP)
CANAL TRANSIT DUE :Charge levied by a canal authority such as for the Suez Canal or Panama Canal, for transiting. The charge is based on the ship's tonnage.
Capacity:The ability, in a given time, of a resource measured in quality and quantity The quantity of goods which can be stored in or loaded into a warehouse, store and/or loaded into a means of transport at a particular time
CARGO - Goods, merchandise or commodities of every description which may be carried aboard a vessel or air craft, in consideration of the freight charged; does not include provisions and stores for use on board.
CARGO (CGO): Also referred to as "goods", means any property carried or to be carried on an aircraft, other than mail or other property carried under terms of an international postal convention, baggage or property of the carrier; provided that baggage moving under an air waybill or a shipment record is cargo.
CARGO ACCOUNTS SETTLEMENT SYSTEM (CASS): A system of accounting and settling accounts between CASS Airlines and appointed IATA Cargo Agents.
Cargo Agents- (An IATA term)-IATA cargo agents (air freight forwarders) perform the air cargo sales, documentation, and cargo preparation for carriage functions on behalf of airlines. In return, the agent receives commissions or discounted freight rates from the airlines.
CARGO CHARGES CORRECTION ADVICE (CCA): The document used for the notification of changes to the transportation charges and/or the other charges and/or the method of payment.
CARGO CONTROL NO.: A shipment-specific number allocated to shipments arriving under Canada Customs control (also known as Advice Note No.)
CARGO DECLARATION: Information submitted prior to or on arrival for departure of a means of transport for commercial us that proved the particulars required by Customs relating to cargo brought to or removed from the customs territory.
Cargo Handling:All procedures necessary to enable the physical handling of goods.
Cargo IMP version of EDIFACT (CargoFACT): Cargo IMP version of UN Electronic Data Interchange for Administration, Commerce and Transport – EDIFACT
CARGO INTERCHANGE MESSAGE PROCEDURE (CARGO-IMP): Messaging procedures developed by the member airlines of the ATA and IATA.
CARGO MANIFEST: A document listed by AWB numbers loaded on a flight. It is mainly used for customs entry/exit.
Cargo N.O.S. - Cargo Not Otherwise Specified. Usually the rate entry in a tariff that can apply to commodities not covered under a specific item or sub item in the applicable tariff. Also used in hazardous material descriptions.
CARGO SELECTIVITY - Selectivity is a module in Customs ACS that identifies the level of examination recommended for an import shipment. Once selectivity has been made, the broker gets the decision via ABI.
Cargo Tracer:A document sent by the agent to all relevant parties, stating that certain cargo is either missing or over-landed.
Cargo Unit:A vehicle, container, pallet, flat, portable tank or any other entity or any part thereof which belongs to the ship but is not permanently attached to that ship.
Cargo:Goods transported or to be transported, all goods carried on a ship covered by a B/L. Any goods, wares, merchandise, and articles of every kind whatsoever carried on a ship, other than mail, ship's stores, ship's spare parts, ship's equipment, stowage material, crew's effects and passengers' accompanied baggage (IMO) Any property carried on an aircraft, other than mail, stores and accompanied or mishandled baggage Also referred to as 'goods' (ICAO).
The above details describes about terms called in freight forwarding such as cost and freight,insurance and freight,cabotage,currency adjustment factor ,cage code,canal transit due,cargo control no.,cargo manifest,cargo selectivity 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 Business Process Model,Bunker Surcharge,Bunker Adjustment Factor
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