Terms used in shipping such as COMBINED SHIPS,COMBINATION VESSELS, COLLIER, Collection etc.
This post explains about terms used in shipping such COMECON,COMBINED SHIPS,COMBINATION VESSELS,COLLIER,Collection,Container-On-Flatcar,Collection Papers 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
CoCom - See: Coordinating Committee on Multilateral Export Controls.
CoCom Cooperation Forum - The CCF provides a venue for emerging democracies in Central and Eastern Europe and the of the former Soviet Union to discuss international export controls and to help coordinate technical assistance efforts. The Forum, established in June 1992, held its first meeting in November 1992. At the close of 1992, 42 nations were CCF participants, including most states of the former Soviet Union (except Georgia, Tajikistan, and Turkmenistan) and all of the former Soviet satellites of Eastern and Central Europe (except the former Yugoslav republics).
COD:- Collect (cash) on Delivery. - Carried on Docket (pricing).
CODE OF LINER CONDUCT (UNCTAD):A convention drafted under the auspices of the United Nations Conference on Trade and Development which provides that all shipping traffic between two foreign countries is to be regulated as far as the quantities of shipments are concerned on the following percentages – 40% for owners of the country of origin, 40% for owners of country of destination, and 20% for owners of the country which is neither the origin nor the destination
CODEX - Codex Alimentarius Commission
Codex Alimentarius Commission - As a subsidiary body of the United Nations Food and Agricultural Organization and the World Health Organization, CAC (or CODEX) develops food standards and Recommended International Codes of Hygienic and/or Technological Practices. Commission standards are voluntary, becoming enforceable only if accepted as national standards. The Commission also works in cooperation with Regional Coordinating Committees (Africa, Europe, Latin America and the Caribbean) in promoting regional standards activities. The Commission was established in 1962; headquarters are in Rome, Italy.
COE - Council of Europe
COFACE - Compagnie Francaise d'Assurance pour le Commerce Exterieur
COFC:Container On Flat Car. The movement of a container on a railroad flatcar. This movement is made without the container being mounted on a chassis.
COFC:Container-On-Flatcar. A term used in intermodal transportation in which containers are stacked onto rail flatcars for rail transportation. No truck chassis is used, and doublestack cars are possible, thus more containers can be carried by a shorter, lighter train.
COGSA:Carriage of Goods by Sea
COGSA:Carriage of Goods by Sea Act. U.S. federal codification passed in 1936 which standardizes carrier's liability under carrier's bill of lading. U.S. enactment of The Hague Rules.
Collect billing:freight charges are paid by consignee.
Collecting:A bank that acts as an agent to the seller's bank (the presenting bank). The collecting bank assumes no responsibility for either the documents or the merchandise.
Collection Papers - All documents (invoices, bills of lading, etc.) submitted to a buyer for the purpose of receiving payment for a shipment.
Collection:A draft drawn on the buyer, usually accompanied by documents, with complete instructions concerning processing for payment or acceptance.
Collections System - The Collections System, a part of Customs' Automated Commercial System, controls and accounts for the billions of dollars in payments collected by Customs each year and the millions in refunds processed each year. Daily statements are prepared for the automated brokers who select this service. The Collections System permits electronic payments of the related duties and taxes through the Automated Clearinghouse capability. Automated collections also meet the needs of the importing community through acceptance of electronic funds transfers for deferred tax bills and receipt of electronic payments from lockbox operations for Customs bills and fees.
COLLECTIVE PAPER:All documents (commercial invoices, bills of lading, etc.) submitted to a buyer for the purpose of receiving payment for a shipment.
COLLIER:Vessel used for transporting coal.
COLLISION AVOIDANCE SYSTEM:Electronic system commonly used to prevent collisions in inland navigable waterways.
Colombo Plan - The Colombo Plan was established in 1951 to promote economic and social development among members in Asia and the Pacific. Members include: Afghanistan, Australia, Bangladesh, Bhutan, Burma, Cambodia, Canada, Fiji, India, Indonesia, Iran, Japan, South Korea, Laos, Malaysia, Maldives, Nepal, New Zealand, Pakistan, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand, the United Kingdom, and the United States. The Plan's formal name is the Colombo Plan for Cooperative Economic Development in South and South-East Asia; headquarters are in Colombo, Sri Lanka.
COLREG:Convention on International Regulations for Preventing Collisions at Sea
Column 1 Rates - The U.S. import tariff rates which have been established through negotiation, are congressionally approved and usually bound. These are ''most favored nation'' (MFN) rates, meaning that they must apply equally to all countries receiving MFN tariff treatment from the United States, unless superseded by certain preferential tariff arrangements for developing countries.
Column 2 Rates - Column 2 rates are statutory established tariff rates dating back to the 1930s Smoot-Hawley period and are substantially higher than column I rates. They are currently assessed only on imports from countries not receiving most favored nation treatment from the U.S. (e.g., certain communist countries).
COM - Chief of Mission, Cost of Manufacture
Com. – Commission
Combi - It is an aircraft having main deck divided into two sections, one fitted to seats and the other used for cargo.
Combi Aircraft:An aircraft configured to carry both passengers and cargo on the Main Deck .
COMBI:Combination passenger/cargo vessel; a vessel specifically designed to carry both containers and conventional cargoes.
Combination Export Mgr:A firm that acts as an export sales agent for more than one non-competing manufacturer.
Combination Rate:A rate made up of two or more factors, separately published.
COMBINATION VESSELS:A type of ship that accommodates both container and breakbulk cargo. It can be either self-sustaining or non-self sustaining. Also known as a Container/Breakbulk Vessel.
COMBINED SHIPS:Ships that can carry both liquid and dry bulk cargoes.
Combined Transport / Multimodal B/L:A B/L covering transport by shipping container from an inland place prior to the loading port, to an inland place beyond the destination port. Most freight forwarders and shipping companies title their B/Ls as "Bill of Lading for Combined Transport or Port-to-Port shipment" or similar.
Combined Transport Bill of Ladinq or Combined Transport Document - Document evidencing a contract between shipper and a shipping line for carriage of goods on a voyage involving at least two legs. Normally, the issuer of this document is responsible for the goods from the time they are received into his care until the time they are delivered at destination.
COMECON - Council for Mutual Economic Assistance
Comision Economica para America Latiana y el Caribe - See: United Nations Regional Commissions.
Comision Panamericana de Normas Tecnicas - COPANT (English: Pan American Standards Commission) coordinates the activities of all institutes of standardization in the Latin American countries. The Commission develops all types of product standards, stnadardized test methods, terminology, and related matters. COPANT headquarters are in Buenos Aires, Argentina. U.S. contact with COPANT is maintained through the American National Standards Institute.
The above details describes about terms called in freight forwarding such as COMECON, COMBINED SHIPS,COMBINATION VESSELS, COLLIER, Collection, Container-On-Flatcar,Collection Papers 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 trade below this post.Terms used in shipping such as Clean Bill of Lading,Clean Receipt,Clean Float,Cleaning in Transit,Coasting Broker,Coasthire
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