Terms used in shipping such as Additional Freight ,Admiralty ,Advance Freight,Advance,Adventure etc


Terms used in shipping such as Additional Freight ,Admiralty ,Advance Freight,Advance,Adventure etc.


This post explains about terms used in shipping such as Ad Valorem,Addcom , Additional Freight ,Admiralty ,Advance Freight,Advance,Adventure 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 shipping


Accessorial charges:additional charges assigned by trucking companies for services considered to be outside the origin scope.


ACCJ - American Chamber of Commerce in Japan


accomplished bill of lading - Original bill of lading surrendered to the carrying ship at the discharge port in exchange for the goods.


Terms used in shipping such as Additional Freight ,Admiralty ,Advance Freight,Advance,Adventure etcAccomplished Bill of Lading - Original Bill of Lading which has been surrendered to the carrying ship at the discharge port in exchange for the goods.


Account:(See Crew List) refers to the list of crew names for a Foreign-Going voyage or Home Trade six-month engagement. Articles - a collection of documents that cover one voyage or six- month period. Articles of Agreement or (Particulars of Engagement) - refer to the particulars of engagement, or the specifics of what the seafarer accepted in signing the Agreement, including the job title, time to be on board, and wages.


ACE:The new U.S. Customs “Automated Commercial Environment” for filing cargo documentation.Also an abbreviation for the U.S. Army Corps of Engingeers


Acquiescence:When a bill of lading is accepted or signed by a shipper or shipper's agent without protest, the shipper is said to acquiesce to the terms, giving a silent form of consent.


Acquittance:A written receipt in full, in discharge from all claims.


ACS (A.C.S.):U.S. Customs' master computer system, "Automated Commercial Systems."


Act of God:An act beyond human control, such as lightning, flood or earthquake.


Actual Gross Weight:The full weight of a shipment, including goods and packaging.


AD VAL FRT - Ad Valorem Freight - Freight calculated on the value of the goods, expressed as a percentage thereof.


Ad Valorem - "Literally: according to value. Any charge, tax, or duty that is applied as a percentage of value. "


Ad Valorem Equivalent - "AVE is the rate of duty which would have been required on dutiable imports under that item, if the United States customs value of such imports were based on the United States port of entry value. "


Ad Valorem:A term from Latin meaning, "according to value." Usually refers to a tax, duty, or charge based on the cargo’s value.


Ad Valorem:In proportion to the value.


AD VALOREM:Latin for “according to the value.”(1) An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume. A percentage of that value is charged, for example, 5% ad valorem. (2) A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate.


Ad. val. - Ad valorem-according to value


ADB - Asian Development Bank


Addcom - Address Commission - Commission payable by the shipowner to the charterer. The reason for this system is sometimes said to be that the charterer's shipping department for bookkeeping purposes must show some kind of income from their activities. State trading countries regularly include a 5% address commission in their orders.


Additional Demurrage - Amount of money paid to the shipowner by the voyage charterer, shipper or receiver, as the case may be, for failing to complete loading or discharging before the agreed period of free time has expired. The daily rate of additional demurrage is agreed in the Charter-Party.


Additional Freight - Extra charge imposed in accordance with the contract of carriage by a shipping line on the shipper, receiver or Bill of Lading holder, as the case may be, for additional expenses incurred in discharging the cargo. This charge generally applies when the port stipulated in the contract is inaccessible or when the discharge there would result in unreasonable delay to the ship: under these circumstances, the shipping line may have an option under the contract of carriage to proceed to another port of discharge the cargo where extra costs may be incurred.


ADF - "African Development Foundation, African Development Fund, Asian Development Fund"


ADFAED - Abu Dhabi Fund for Arab Economic Development


ADMEASUREMENT:The confirmed or official dimensions of a ship.


Administrative Exception Notes - "CoCom controls exports at three levels, depending on the item and the proposed destination. At the lowest level, ""national discretion"" (also called ""administrative exception""), a member nation may approve the export on its own, but CoCom must be notified"


Administrative Law Judge:A representative of a government commission or agency vested with power to administer oaths, examine witnesses, take testimony, and conduct hearings of cases submitted to, or initiated by, that agency. Also called Hearing Examiner.


Administrative Protective Order - "An Administrative Protective Order, APO, is used to protect proprietary data that is obtained during an administrative proceeding. Within Commerce, APO is most frequently used in connection with Antidumping and Countervailing Duty investigations to prohi"


Administrative Review - "Each year, beginning on the anniversary of the date of publication of an antidumping duty order, the Commerce Department's International Trade Administration is required to review and determine the amount of any antidumping duty, if an interested party re"


Admiralty (Adm.):Refers to marine legal matters such as an Admiralty Court.


ADMIRALTY COURT:A court having jurisdiction over maritime questions pertaining to ocean transport, including contracts, charters, collisions, and cargo damages.


ADRs - American Depository Receipts


ADS - Agent Distributor Service ADS provides a custom search overseas for interested and qualified foreign representatives on behalf of a U.S. exporter. Officers abroad conduct the search and prepare a report identifying up to six foreign prospects that have examined the U.S. firm's product literature and have expressed interest in representing the U.S. firm's products.


Advance Against Documents - It is the loan made on the security of documents covering the shipment.


Advance Commercial Information (ACI):Program that introduces more effective risk management processes and tools to identify threats to our health, security and safety prior to the arrival of cargo and conveyances.


Advance Freight - Freight payable at a time agreed by the shipowner and the shipper, before the goods are delivered at the place of destination in the contract of carriage.


Advance on Freight - Money advances by the shipper to the master of a ship to pay for his disbursements while in port. It is often repaid by deduction from freight.


Advance:To move cargo up line to a vessel leaving sooner than the one booked. (See Roll)


Advanced Charge:Transportation charge advanced by one carrier to another to be collected by the later carrier from the consignor or consignee.


Advanced Technology Products - "About 500 of some 22,000 commodity classification codes used in reporting U.S. merchandise trade are identified as ""advanced technology"" codes and they meet the following criteria: -The code contains products whose technology is from a recognized high tec"


Adventure:Shipment of goods on shipper's own account. A bill of adventure is a document signed by the master of the ship that carries goods at owner's risk.


The above details describes about terms called in shipping such as Ad Valorem,Addcom ,Additional Freight ,Admiralty ,Advance Freight,Advance,Adventure 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 shipping business below this post.Terms used in shipping such as Abaft,Abandon,Abatement,Absorption,Accession , Acceptance etc


Related posts about free online training on overseas trade:


How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Different types of export containers
How to get GSP certificate of origin in India?
Types of export containers
Foreign Trade Policy of India 2015-20
Application for Shipments from EDI Ports and Non-EDI Ports under MEIS
Last date of filing of application for Duty Credit Scrips
Declaration of Intent to claim MEIS, Merchandise Exports from India Scheme
Validity period and Revalidation for MEIS and SEIS
Re-export of defective or unfit goods under MEIS
Procedure to upload documents by CA, CS or Cost Accountant to claim MEIS and SEIS
Common Procedural features applicable to MEIS and SEIS underFTP 2015-20
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
How to get Export Orders?
 How to settle dispute in Exports and Imports?
 Import clearance procedures and formalities
Bank finance to exporters as pre shipment finance
 Tips to exporters on Documentation
What are the legal documents in exports

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers