Trade Terms                                 

(Cost and Freight) Seller owns goods until they are loaded on vessel; selling price includes all costs so far plus cost of freight. The buyer is responsible for insurance.

(Cost, Insurance and Freight.) Seller owns goods until they are offloaded from the vessel; selling price includes cost of goods, insurance, and freight.

Goods, merchandise or commodities of every description which may be carried aboard a vessel, in consideration of the freight charged; does not include provisions and stores for use on board.

A customs document permitting the holder to carry or send merchandise temporarily into certain foreign countries (for display, demonstration, or similar purposes) without paying duties or posting bonds.

1936 U.S. Statute that governs the acts that a carrier is responsible for and defines the terms used in shipping. The act provides that the shipowner's liability will be limited to $500 per shipping package, and it stipulates a one-year time limit for filing suit against the carrier. This act automatically applies to international ocean movements but not to domestic ocean transits unless the carrier agrees to be bound by it.

Usually means Steamship Company, but can also refer to trucking company, airline, or railroad as transporter of cargo.

A document often required with shipments of perishable or other goods, when certification notes the good condition of the merchandise immediately prior to shipment.

A statement sometimes notarized by a producer, usually also the seller, or merchandiser that indicates the goods have been manufactured and are at the disposal of the buyer.

A specified document, required by certain foreign countries for tariff purposes, certifying the country of origin of the merchandise. Sometimes requires the signature of the consul of the country to which it is destined.

A written contract between the owner of a vessel and the one (the charterer) desiring to empty the vessel, setting forth the terms of the arrangement, i.e., freight rate and ports involved in the contemplated trip.

Freight payable at destination provided the vessel delivers the goods as specified.

A statement of transaction between a seller and buyer prepared by the seller, and a description of the merchandise, price, terms, etc.

Set of four "negotiable" documents that represents and takes the place of the goods themselves in the financing of the cargo sales transaction.

Transporter who holds himself out to the general public for the transportation of goods over a definite route and according to a regular schedule.

Party who is to receive the good; usually the buyer.

Merchandise shipped to a foreign agent or customer when an actual purchase has not been made, but under an agreement obliging the consignee to pay the consignor for the goods when sold.

The Consolidation Endorsement may be added to an Open Cargo Policy at an agreed premium, to provide coverage on merchandise while in transit to, and while at, a common consolidation point for the purpose of preparing or consolidating the merchandise for export.

Bills of lading, certificates of origin or special invoice forms that are officially signed by the consul of the country of destination.

A detailed statement of goods shipped certified by the consul at the point of shipment.

Shipping systems based on large cargo-carrying containers ranging up to 48 feet long that can be easily interchanged between trucks, trains and ships without rehandling the contents.

During the time of war, materials carried aboard a vessel that could aid a belligerent in the process of the war, such as arms, weapons or munitions.

Licensed by U.S. Customs to clear shipments for clients, also can forward goods "In Bond" to your port.