Terms used in shipping such as Bill to Party,Binding,Blanket Rate,Block Train,Blocking,Blind Shipment

>

How to export your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Disadvantages of Letter of credit (LC) for Exporter
Foreign Trade Agreements of India
Mode of payments in international trade
Packing credit loan to Indian Exporters
Country groups falls under MEIS scheme under foreign trade policy of India 2015-20
Foreign Trade Policy of India 2015-2020
EPCG under Foreign Trade Policy 2015-20
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular export
Triangular shipment
Types of Insurance Documents
What is Express Release Bill of Lading
What is FIRC in export import business
What is first check assessment procedures in import customs clearance

Terms used in shipping such as Bill to Party,Binding,Blanket Rate,Block Train,Blocking,Blind Shipment etc .

This post explains about terms used in shipping such as Bill of Sale,Bill recipient,BILL OF SIGHT,Bill to Party,Binding,Blanket Rate,Block Train,Blocking,Blind Shipment 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

Bill of Lading:A contract between the owner of the goods and the carrier A straight bill of lading is nonnegotiable. A negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit.

BILL OF LADING:A document by which the Master of a ship acknowledges having received in good order and condition (or the reverse) certain specified goods consigned to him by some particular shipper, and binds himself to deliver them in similar condition, unless the perils of the sea, fire or enemies prevent him, to the consignees of the shippers at the point of destination on their paying him the stipulated freight. A bill of lading specifies the name of the master, the port and destination of the ship, the goo4s, the consignee, and the rate of freight.

Bill of Sale:A bill of sale is a legal document made by a 'seller' to a purchaser, reporting that on a specific date, at a specific locality, and for a particular sum of money or other "value received", the seller sold to the purchaser a specific item of personal, or parcel of real, property of which he had lawful possession. It is a written instrument which evidences the transfer of title to personal property from the vendor, seller, to the

Bill of Sale:Confirms the transfer of ownership of certain goods to another person in return for money paid or loaned.

BILL OF SIGHT:A written description of goods given by an importer to a customs officer in the event shipping documents have not arrived in time and the importer wishes to avoid delayed entry charges. When an importer enters goods on a bill of sight, he usually must make a cash deposit covering the estimated amount of duty. When the shipping documents are received and a correct entry is made, the exact amount of duty is levied.

Bill recipient: Select this option to bill the FedEx account assigned to the Recipient. A valid, 9-digit Recipient FedEx account number must be entered for transportation charges.

Bill sender: Select this option to bill the FedEx account assigned to the Sender. A valid, 9-digit Sender FedEx account number must be entered for transportation charges.

Bill third party: Select this option to bill the FedEx account assigned to a party other than the Sender or Recipient. A valid, 9-digit Third Party FedEx account number must be entered for transportation charges.

Bill to Party:Customer designated as party paying for services.

Bill transportation to:Select sender, recipient, third party, or Bill Collect (Authorized FedEx Ground Accounts Only) from the drop-down menu as the payer of transportation charges and any duties/taxes/fees associated with the shipment:

Billed Weight:The weight shown in a waybill and freight bill, i.e, the invoiced weight.

BILLING CARRIER (BILL ROAD):The carrier performing the first line haul service of the movement. This carrier is responsible for preparing the waybill document.

BIMCO (The Baltic and International Maritime Council) - Association whose main object is to promote and defend the interests of shipowners. It also has a membership of shipbrokers and has been responsible for contributing to the creation of a large number of Charter-Parties and other shipping documents.

Bimcosale - Standard bill of sale published by BIMCO, used for the purchase of ships.

Binding - "GATT Article 11 provides that signatories may ''bind'' tariff rates by including them in schedules appended to the GATT. Once a duty is bound, it may not be raised beyond that bound level without compensating affected parties."

Biological Agents - "Several classes of biological agents have been identified according to their degree of pathogenic hazard, and are controlled by the United States in accord with provisions of the Australia Group. Applications submitted to the Department of Commerce for t"

BIP (Border Inspection Post):Control post operated by the Port Health Authorities

BIS - Bank for International Settlements

BISNIS - "Business Information Service for the Newly Independent, States"

BIT(s) - Bilateral Investment Treaty(ies)

BLACK CARGO:Cargo banned by general cargo workers for some reason. This ban could be because the cargo is dangerous or hazardous to health.

Blacklist - List of countries published by a particular government which will not allow ships to trade at its ports if they have traded at ports in the countries on that list.

BLADEX - Banco Latinoamericano de Exportaciones

Blanket Bond:A bond covering a group of persons, articles or properties.

Blanket Rate: A rate applicable to or from a group of points. - A special rate applicable to several different articles in a single shipment.

Blanket Waybill:A waybill covering two or more consignments of freight.

Blanket-wrap transportation:when merchandise that is required to ship is not protected by cartons or shrink-wrapping but instead exposed. This type of transportation requires additional equipment to transport safely such as blankets, pads, straps, etc…

BLEU - Belgium-Luxembourg Economic Union

Blind Shipment - When the shipper and receiver are not aware of one another, the freight shipment is called a blind shipment. In such cases, the bill of lading lists the party that paid for the shipment as the shipper or receiver of the freight shipment.

Blind Shipment:A B/L wherein the paying customer has contracted with the carrier that shipper or consignee information is not given.

Block shipment data:Select this box to prevent your recipient or third party payer (with FedEx InSight) from seeing detailed information about the shipment.

Block Stowage:Stowing cargo destined for a specific location close together to avoid unnecessary cargo movement.

Block Train:Railcars grouped in a train by destination so that segments (blocks) can be uncoupled and routed to different destinations as the train moves through various junctions. This eliminates the need to break up a train and sort individual railcars at each junction.

Blocking - Also known as bracing, refers to wood or other supports used to keep shipments in place on trailers or in containers.

Blocking or Bracing:Wood or metal supports (Dunnage) to keep shipments in place to prevent cargo shifting.

Bls.:Abbreviation for "Bales."

Blt – Built.

Blue Lantern - "Blue Lantern, a procedure pertaining to U.S. Munitions List items, is intended to verify that information stated on export license applications is valid and that the use of the commodity or service exported is consistent with the terms of the license. It"

BMWi - Bundesministerium fur Wirtschaft

BOAD - Banque Ouest-Africaine de Developpement

Board Feet:The basic unit of measurement for lumber. One board foot is equal to a one-inch board, 12 inches wide and 1 foot long. Thus, a board 10 feet long, 12 inches wide, and 1 inch thick contains 10 board feet.

Board of Commissioners: The members of the governing board of a port authority are called commissioners. Members of a Board of Commissioners can be elected or appointed and usually serve for several years.

Board:To gain access to a vessel.

Bobtail;Movement of a tractor, without trailer, over the highway.

The above details describes about terms called in shipping such as as Bill of Sale,Bill recipient,BILL OF SIGHT,Bill to Party,Binding,Blanket Rate,Block Train,Blocking,Blind Shipment 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 straight bill of lading,ocean bill of lading,inland bill of lading,freight b/l,b/l numbers,negotiable b/l

Related posts about free online training on overseas trade: