Terms used in shipping such as Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank etc.
This post explains about terms used in shipping such as Free of all average,Fair average quality,Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank,Fire risk only,Fishing vessel clauses 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
EXW: Ex Works. Under this term, the price quoted applies only at the point of origin and the seller agrees to place the goods at the disposal of the buyer at a specific place on the date or within the period fixed. All other charges are for the account of the buyer.
Ex-Works:An Incotem of sale meaning the seller deliverers to the buyer at seller’s named premises.
F - Free Out
F. & A.P. - Fire and allied perils
F. & D. - Freight and demurrage
f.a. - Free alongside
F.a.a. - Free of all average
f.a.c. - Fast as you can
F.A.O. - Food and agriculture Organization (U.N.)
f.a.q. - Fair average quality
f.a.s. - Free alongside ship, Firsts and seconds (American lumber)
f.c. & s. - Free of capture and seizure
F.C.A.R. - Free of claim for accident reported
F.C.I. - Full container loads
F.C.I.I. - Fellow of the Chartered Insurance Institute
F.C.V. - Full contract value, Full completed value
f.d. - Free discharge. Free delivery. Free despatch. Free docks
F.D.A.:Food and Drug Administration
F.D.O. - For declaration purposes only
f.f.a. - Free from alongside, Free foreign agency
F.F.O. - Fixed and floating objects
F.G.A. - Foreign general average
f.h. - Fore hatch
f.i - Free-in
f.i.a. - Full interest admitted
f.i.b. - Free into bunkers. Free into barge
F.I.C.S. - Fellow of the Institute of Chartered Shipbrokers
F.I.L. - Foreign insurance legislation
f.i.o. - Free-in-and-out
f.i.o.s. - Free in and out stowed
f.i.o.s.t. - Free in and out stowed and/or trimmed
f.i.o.t. - Free in and out trimmed
f.i.t. - Free of income tax
f.i.w. - Free in wagon
F.L.E. - Fire, lightning and explosion
f.o. - For orders, Firm offer, Full out terms (grain trade)
F.O.B Origin:“F.O.B. Origin” means that title and risk pass to the buyer at the moment of the seller’s delivery to the carrier. The parties may agree to have title and risk pass at a different time or to allocate freight charges by a written agreement.
F.O.B. Destination:“F.O.B. Destination” changes the location where title and risk pass. Under this arrangement, title and risk remain with the seller until they have delivered the freight to the delivery location specified in the contract.
F.O.C. - Flag of convenience, Free ofcommission, Free of charge, Free of claims
f.o.c. - Free on car, Free of charge
f.o.d. - Free of damage
F.O.M. - Flag, ownership and management
F.O.N.A.S.B.A. - Federation of National Association of Shipbrokers and Agents
f.o.q. - Free on quay
f.o.r. - Free on rail
f.o.r.t. - Full out rye terms (grain trade)
f.o.s. - Free on steamer
F.O.S.F.A. - Federation of Oils, Seeds & Fats Associations
f.o.t. - Free on truck
f.o.w. - Free on wagon. First open water
F.P. - Fully Paid. Floating (or open) policy
F.P.A. - Free of Particular Average
F.P.A.:See "Free of Particular Average."
F.P.I.L. - Full premium if lost
F.P.T. - Forepeak tank
f.r. & c.c. - Free of riots and civil commotions
F.R.C. - Free of reported casualty
F.R.O. - Fire risk only
f.r.o.f - Fire risk on freight
f.s.l. - Full signed line (insurance)
F.S.R. & C.C. - Free of strikes, riots and civil commotions
f.t. - Full terms; despatch money, payable on all time saved on the chartered time for loading and discharging the cargo.
F.T.A. - Freight Transport Association and Agents
f.t.r.r. & i. - For their repective rights and interests
F.V.C. - Fishing vessel clauses
f.w.d. - Fresh water damage
f.w.l. - Full written line (insurance)
F.W.P.C.A. - Federal Water Pollution Control Act (USA)
F.W.T. & G.D. - Fair wear, tear and gradual deterioration
The above details describes about terms called in shipping such as Free of all average,Fair average quality,Fore hatch,Free in wagon,Towed,Free-in-and-out,Free of damage,Forepeak tank,Fire risk only,Fishing vessel clauses 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 ,Export Statistics,Exporter's Sales Price,Express release Bill,Extended Fund Facility,Extra-length Surcharge
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