Terms used in shipping such as Receiver,Reciprocity ,Recourse,Reconsignment,Red Label etc.
This post explains about terms used in shipping such as Ramp,Railyard,Rate Basis,RECAP,Receiver,Reciprocity ,Recourse,Reconsignment,Red Label 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
railyard: A rail terminal at which occur traditional railroad activities for sorting and redistribution of railcars and cargo.
RAMP:A structure, permanent or temporary, from which trailers are driven onto or off of a railroad flatcar. Also used in reference to any city or location where piggyback loading and unloading can be performed
Ramp:Railroad terminal where containers are received or delivered and trains loaded or discharged. Originally, trailers moved onto the rearmost flatcar via a ramp and driven into position in a technique known as "circus loading." Most modern rail facilities use lifting equipment to position containers onto the flatcars.
Ramp-to-Door:A movement where the load initiates at an origin rail ramp and terminates at a consignee's door.
Ramp-to-Ramp:A movement of equipment from an origin rail ramp to a destination rail ramp only.
Rank in Person - The personal rank that a Foreign Service officer maintains even when occupying a job of higher or lower rank.
Rate Basis:A formula of the specific factors or elements that control the making of a rate. A rate can be based on any number of factors (i.e., weight, measure, equipment type, package, box, etc.)
Rate of Demurrage - Amount payable by a voyage charterer to a shipowner for each day used to load and / or discharge cargo in excess of the time allowed in the Charter-Party.
Rate of Discharging / Loading - Number of tons of cargo discharged /loaded each day from / into a ship. Such a provision is often included in the terms of a voyage charter.
Rate of Freight - See freight rate.
RBPs - Restrictive Business Practices
RCS - Regular Catalog Show
Rds. – Roads
Reasonableness:Under ICC and common law, the requirement that a rate not be higher than is necessary to reimburse the carrier for the actual cost of transporting the traffic and allow a fair profit.
REBATE:A deduction taken from a set payment or charge. Because a rebate is given after payment of the full amount has been made, it differs from a discount which is deducted in advance of the payment. In foreign trade, a full or partial rebate may be given on import duties paid on goods which are later re exported.
RECAP:Recapitulation of the terms and conditions agreed
Received for Shipment Bill of Lading - Bill of Lading evidencing that the goods have been received into the care of the carrier, but not yet loaded on board. It also serves as evidence of the contract of carriage and is a document of title, although because the goods have not necessarily been loaded on to the ship, this type of Bill of Lading is not always acceptable to banks as collateral security.
Receiver - Party who receives the cargo at the place of destination in the contract of carriage.
Recieving and delivery system:The receiving and delivery systems between the carrier and supplier of full container load and less than container load in container transportation include the following: 1) door to door: the whole process that the shipper loads the containers in the warehouse and let the carrier examine and transfer to the warehouse of the consignee. 2) door to cy: from the warehouse of the consigner to the destination or the yard of the container loading area of unloading harbor. 3) door to cfs: from the warehouse of the consigner to the destination or the station of unloading harbor.4) cy to door: from the loading port or the yard of the container loading area of the loading harbor to the warehouse of the consignee. 5) cy to cy: from the loading port or the yard of the container loading area of the loading harbor to the destination or the yard of the container loading area of the unloading harbor. 6) cy to cfs: from the loading port or the yard of the container loading area of the loading harbor to the destination or the station of the unloading harbor. 7) cfs to door: from the loading port or the station of the loading harbor to the warehouse of the consignee. 8) cfs to cy: from the loading port or the station of the loading harbor to the destination or the yard of the container loading area of the unloading harbor. 9) cfs to cfs: from the loading port or the station of the loading harbor to the destination or the station of the unloading harbor.
Reciprocal Defense Procurement Memoranda of Understanding - Reciprocal memoranda of understanding (MOU) are broad bilateral umbrella MOUs that seek to reduce trade barriers on defense procurement. They usually call for the waiver of "buy national" restrictions, customs and duties to allow the contractors of the signatories to participate, on a competitive basis, in the defense procurement of the other country. These agreements were designed in the late 1970's to promote rationalization, standardization, and interoperability of defense equipment within NATO. At that time, the MOU's were also intended to reduce the large defense trade advantage the United States possessed over the European allies. The first agreements were signed in 1978.
Reciprocity - The reduction of a country's import duties or other trade restraints in return for comparable trade concessions from another country. Reciprocity includes the lowering of customs duties on imports in return for tariff concessions from other countries; the negotiated reduction of a country's import duties or other trade restraints in return for similar concessions from another country. Reciprocity is a traditional principle of GATT trade negotiations that implies an approximate equality of concessions accorded and benefits received among or between participants in a negotiation. In practice this principle applies only in negotiations between developed countries. Because of the frequently wide disparity in their economic capacities and potential, the relationship between developed and developing countries is generally not one of equivalence. The concept of "relative reciprocity" has emerged to characterize the practice by developed countries to seek less than full reciprocity from developing countries in trade negotiations.
Recommended Charter - When there has been no proper groups of charterers with whom to negotiate a particular charter, for instance. "Gencon" Charter it is issued as a "recommended" charter. The same is the case if the parties with which a charter has been negotiated will not be able to bind their members to use the charter as a clean document. This is the position, for instance, for the "Norgrain" Charter and the 'Nuvoy" Charter. Whereas BIMCO naturally wishes the printed text of a "recommended" charter to be followed by charterers and shipowners. there were no compulsion in this respect.
Reconsignment:Changing the consignee or destination on a bill of lading while shipment is still in transit. Diversion has substantially the same meaning.
Recourse:A right claim against the guarantors of a loan or draft or bill of exchange.
Red Clause - An Authorization in a commercial letter of credit authorizing the advising/negotiating bank to make a limited advance to the seller before the shipment to the buyer is made. Such advances can be made up to 100% of the shipment value. These advances enable the seller to procure supplies for manufacturing or shipment. Negotiations of Red Clause credits are restricted to the bank making the advances in order to assure that proceeds from the shipment are used to repay the advances.
Red Label:A label required on shipments of flammable articles.
Redelivery Certificate - Document signed by or on behalf of the shipowner and the charterer, certifying the time, date and place of redelivery of the ship, that is, the returning of the ship by the time charterer to the shipowner at the end of the period of charter. The certificate also states the quantity of bunkers onboard at the time redelivery.
Redly – Redelivery - Return of a ship by the time charter to the shipowner at the end of the period of the charter.
REDS (Registered Excise Dealers and Shippers):REDS are traders who have been approved by HMRC to receive duty-suspended excise goods from other EU member states.
Reefer - Industry term for a temperature-controlled container. Inside each one is a complex system of coils, wires and electrical fittings, which are managed by a computer that controls everything from the temperature and humidity to ventilation and gas levels, all working to prevent the deterioration of fresh food or other sensitive goods over long distances and periods of time.
The above details describes about terms called in shipping such as Ramp,Railyard,Rate Basis,RECAP,Receiver,Reciprocity ,Recourse,Reconsignment,Red Label 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 Quarantine Harbor,Quarantine Station,Quay,Quota,Quotation,Rye terms,Rail Division
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