Terms used in shipping such as Arab,Arbitration Clause ,Arrest,Arrived Ship,As Agent Only,Appraiser's Stores etc.
This post explains about terms used in shipping such as Arbitrage,Arab,Arbitration Clause ,Arrest,Arrived Ship,As Agent Only,Appraiser's Stores,Apron 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
Appraiser's Stores:The warehouse or public stores to which samples of imported goods are taken to be inspected, analyzed, weighed, etc. by examiners or appraisers.
apron: The area immediately in front of or behind a wharf shed on which cargo is lifted. On the "front apron," cargo is unloaded from or loaded onto a ship. Behind the shed, cargo moves over the "rear apron" into and out of railroad cars.
APS - Arrival Pilot Station - Location often used as the place of delivery of a ship by the shipowner to the charterer at the commencement of a time charter. The hire charge commences from the time of arrival unless the ship arrives prior to the first of the laydays. In such a case, the hire charge commences at the beginning of the first layday or sooner at the option of the charterer.
AQIS: Australian Quarantine and Inspection Service.
Arab Bank for Economic Development in Africa - The ABEDA (French: Banque Arabe pour le Developpement Economique en Afrique -- BADEA) was created by the League of Arab States in November 1973 (began operations in March 1975) to promote economic and technical cooperation between Arab and African states
Arab Cooperation Council - "The ACC was created in 1989 to promote economic cooperation and integration. Members include Egypt, Iraq, Jordan, and North Yemen. The ACC, partly intended as a counterpart to Gulf Cooperation Council, was created one day subsequent to the establishment"
Arab Fund for Economic and Social Development - "AFESD promotes regional economic integration and social development in Arab states. Members include: Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia,"
Arab International Bank - "The AIB provides financing to support development of foreign trade among member nations and other Arab states. The Bank was established in October 1971; headquarters are in Cairo, Egypt. Member include: the governments of Oman, Qatar, and United Arab E"
Arab Maghreb Union - "The AMU (French: Union du Maghreb Arabe, UMA) encompasses Algeria, Libya, Mauritania, Morocco, and Tunisia. The Union was established in February 1989 to foster integration of the Maghreb economy. The Union also seeks to join the AMU and the Gulf Coope"
Arab Monetary Fund - "The AMF, originally aimed at correcting chronic deficits in the balance of payments in most member states, promotes Arab integration in monetary and economic affairs. The Fund's priorities have included: (a) addressing payments imbalances, (b) creating "
Arab Trade Financing Program - "The ATFP promotes trade among Arab countries and exports from Arab countries. The Program was established in 1989 by the Arab Monetary Fund; headquarters are in Abu Dhabi, United Arab Emirates. "
Arab-African International Bank ous buying and selling of the same commodity or foreign exchange in two or more markets in order to take advantage of price differentials.
Arbitrage - The practice of exchanging the currency of one country for that of another or a series of countries to gain an advantage from the differences in exchange rates.
Arbitrary:A stated amount over a fixed rate to one destination to make a rate to another destination.
Arbitration Clause - A clause in a sales contract outlining the method under which disputes will be settled.
Arbitration Clause - Clause in a contract, such as Charter-Party, which stipulates that any dispute between the parties arising from the contract be resolved by arbitration. The clause also specifies the place where the arbitration is to be held, the number of arbitrators and their qualifications, and the procedure should one party fail to nominate an arbitrator.
ARBITRATION CLAUSE:A standard clause to be included in the contracts of exporters and importers, as suggested by the American Arbitration Association. It states that any controversy or claim will be settled by arbitration in accordance with the rules of the American Arbitration Association.
Arms Control and Disarmament Agency - ACDA is an independent agency within the State Department. ACDA participates in interagency working groups that discuss export license applications requiring dispute resolution. ACDA is interested in dual-use license applications from a non-proliferatio
Arr. T. L. - Arranged total loss
Arrangement on Guidelines for Officially Supported Export
Credits - "The Arrangement is an international agreement under Organization for Economic Cooperation and Development auspices governing the conditions -- such as interest rate, repayment term, and cash downpayment -- of medium- and long-term official export credit; "
arrest - Seizure of a ship by an authority of a court of law either as a debt security or to prevent the ship from departing until a dispute is settled.
Arrival Notice:A notification by carrier of ship's arrival to the consignee, the "Notify Party," and - when applicable - the "Also Notify Party." These parties in interest are listed in blocks 3, 4 and 10, respectively, of the Bill of Lading.
Arrival Notice:An advice that the carrier or forwarder sends to the consignee advising of goods coming forward for delivery. Pertinent information such as bill of lading number, container number and total charges due from consignee etc, are included and sent to consignee prior to vessel arrival. This is done gratuitously by the carrier or forwarder to ensure smooth delivery but there is no obligation by the carrier or the forwarder to do so. The responsibility to monitor the transit and present himself to take timely delivery still rests with the consignee.
Arrived Ship - Requirement of all voyage charters that the ship must have arrived before laytime can commence. Where the charterer has nominated a berth or dock, the ship must have arrived at that berth or dock. When a port is nominated, the ship must have arrived at the pod in this context in cases where there is no berth available and the ship is obliged to wait, a vessel is an "arrived ship" as soon as the following conditions have been met:The vessel must have arrived at the loading or discharging berth or port as stipulated in the charter.The vessel must be fully prepared to load or discharge.Notice of readiness in writing, as prescribed, must have been given to shippers or consignees.If berth nominated by charter is not available, then vessel can be considered “arrived" when NOR is tendered.
ARTICLES OF AGREEMENT:The document containing all particulars relating to the terms of agreement between the Master of the vessel and the crew. Sometimes called ship’s articles, shipping articles.
As Agent Only - Form of words used with a signature to a Charter-Party or Bill of Lading to indicate that the party signing is doing so merely on behalf of a principal, whether is to be the master, owner or charterer of the ship, and has no rights or liabilities under the contract of carriage.
As is - In the condition in which the subject matter is. This expression is used when goods, or a ship, are offered for sale without repair or rectification.
As is, Where is - In the condition in which the subject-matter is and at the place where it is lying. This expression is used where goods or a ship, are offered for sale without repair or rectification and with delivery to the purchaser being at the place where the goods are lying.
ASBA - Association of Ship Brokers and Agents (USA), Inc., New York.
ASBA:American Shipbrokers Association
ASC X12:American Standards Committee X12 responsible for developing EDI standards for the United States.
ASEAN Free Trade Area - "The Association of Southeast Asian Nations (ASEAN) agreed in January 1992 to create a free trade area (ASEAN Free Trade Area, or AFTA) with use of a common effective preferential tariff. Under the agreement ASEAN members will cut tariff rates within 15 y"
The above details describes about terms called in shipping such as Arbitrage,Arab,Arbitration Clause ,Arrest,Arrived Ship,As Agent Only,Appraiser's Stores,Apron 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 American Business Initiative,Andean Group , Anniversary Date,Antidumping Duty etc
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