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Terms used in freight forwarding such as pivot weight,place of political risk,port of arrival,port authority,port of loading,post audit airline/awb, etc.
This post explains about terms used in freight forwarding such as pivot weight,place of delivery,proof of delivery,political risk,port of arrival,port authority,port of loading,post audit airline/awb,pre paid,post-panamax 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
Pilferage:Petty stealing of goods from a ship's hold, cargo shed or warehouse.
Pivot Weight- Minimum chargeable U.L.D. weight.
Place of Acceptance:The location where a consignment (shipment) is received by the carrier from the shipper viz. the place where the carrier's liability for transport venture commences.
Place of Delivery:The location where a consignment (shipment) is delivered to the consignee viz. the place where the carrier's liability ends for the transport venture.
Place of Despatch:Name and address specifying where goods are collected or taken over by the carrier (i.e. if other than consignor).
Place of Receipt:The location where a consignment (shipment) is received by the carrier from the shipper viz. the place where the carrier's liability for transport venture commences.
PLU: See Price Look-Up
PNC - Preliminary Notice of Claim. A PNC is filed by a customs broker with the carrier when the cargo is damaged or lost while in the carriers possession.
PO: See Purchase Order
POD- (1) Proof of Delivery; a signed receipt proving that delivery was
effected. (2)Place of Delivery; The place where delivery is effected and the Carrier’s liability ceases.
POD:Port of Discharge, also Proof of Delivery.
POE Port of Entry
Point of Origin - The place at which a shipment is received by a carrier from the shipper.
Point of Origin:The location where a shipment first starts out.
POL - Abbreviation for Port of Loading. Origin Port.
POL - Port of Loading.
POL:Port of Landing
POLITICAL RISK:In export financing the risk of loss due to such causes as currency inconvertibility, government action preventing entry of goods, expropriation or confiscation, war, etc.
Pomerene Act, Also known as (U.S.) Federal Bill of Lading Act of 1916. - U.S. federal law enacting conditions by which a B/L may be issued. Penalties for issuing B/L's containing false data include monetary fines and/or imprisonment.
Pooling: A shipping term for the practice of combining shipment from multiple shippers into a truckload in order to reduce shipping charges.
POR - Port of Origin.
Port Authority: A state or local government that owns, operates, or otherwise provides wharf, dock, and other terminal investments at ports.
Port charges:see APCA, BSRA and PSC
PORT CODES: A 4 or 5-digit code (usually all numeric) designating ports around the world, whether airports or seaports.
PORT DUES :Charge levied against a ship owner or ship operator by a port authority for the use of a port.
Port of Arrival - Location where imported merchandise is off-loaded from the importing aircraft or vessel.
Port of Call:A port where a vessel discharges or receives traffic.
Port of Call:Place where a vessel actually drops anchor or moors during a certain voyage.
Port of Departure - In export, the final ocean port of aircraft where the shipment in the vessel or aircraft departs from the United States.
Port of Discharge - Port where cargo is discharged from means of transport.
Port of Discharge:The port where the cargo is actually loaded on board the sea (ocean) going vessel.
Port of Entry: A port at which foreign goods are admitted into the receiving country.
Port of Entry:A port where cargoes and containers destined elsewhere are actually discharged from a vessel.
Port of Loading: Port where cargo is loaded aboard the vessel. Postponement: The delay of final activities (i.e., assembly, production, packaging, etc.) until the latest possible time. A strategy used to eliminate excess inventory in the form of finished goods which may be packaged in a variety of configurations and to maximize the opportunity to provide a customized end product to the customer.
Port to Port: - A transportation rate covering carriage only between the carrier’s respective terminals at origin and destination, including relay service. Port-to-Port rates do not include inland freight or transportation to the origin port, or following arrival at the destination port.
Port: A harbor, airport or other facility where ships will anchor, planes will land or trucks and trains will enter.
Port:(a) Harbour with piers or dock. (b) Left side of a ship when facing the bow. (c) Opening in a ship's side for handling freight.
POST AUDIT AIRLINE/AWB: An airline which is granted permission by Canada Customs to report all freight entering into Canada AFTER the fact, similar to the US TACM, BUT in this case the AWB also becomes the Canadian bond
Postal Code:A four to nine digit number identifying postal delivery zones in Canadian and international cities.
POST-PANAMAX:A term used to describe ships with dimensions that exceed the maximum allowable for movement through the Panama Canal; often used in conjunction with the largest container handling vessels.
Power of Attorney:Exporters and Importers authorize Freight Fowarders and Customs Brokers to act as their agents, for export control and Customs purposes, with this document. Completed Power of Attorney documents, however, do not relieve importers or exporters from liability to the U.S. Government in the event of export control or entry errors.
PPD:Prepaid Charges.
PRE ALERT - This form is sent out by the forwarding office to the destination office prior to freight arrival at the destination port. It serves to notify the destination office of the shipping details, such as consignee, master and house bill numbers, flight information, and pieces and weight, of an incoming shipment.
PRE PAID - Freight paid at the origin.
Precarriage:The carriage of goods (containers) by any mode of transport from the place of receipt to the port (place) of loading into the ocean vessel (main means of transport).
Precarrier:The carrier by which the goods are moved prior to the main transport.
Prepaid (PPD.) - Freight charges paid by the consignor (shipper) prior to the release of the bills of lading by the carrier.
Prepaid B/L - Freight paid prior to movement; money to be paid prior to issuance of bill of lading.
The above details describes about terms called in freight forwarding such as pivot weight,place of delivery,proof of delivery,political risk,port of arrival,port authority,port of loading,post audit airline/awb,pre paid,post-panamax 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 Panamax Size,Payee,Payment Terms,Perfect Order,Perishable,Phytosanitary Certificate
The above information is a part of Online export import training guide
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