POD (Port of Discharge): The port of destination where the container is unloaded from the vessel and picked up by the consignee. A.I.R.M.I.C. - Association of Insurance and Risk Managers in Industry and Commerce "Fonds Africain de Developpement, FAD) is an affiliate of the African Development Bank (AfDB) which provides interest-free loans to African countries for projects which promote economic and social development and improve international trade among members o" - 1. *FREE* shipping on qualifying offers. When the term CY to CY , ... Common price term used in international trade meaning seller's responsible for the cost of goods is to the point of loading it to the vessel deck or aircraft loading deck. This means that the seller arranges and pays for all relevant expenses involved in shipping goods – from their point of export to a given point of import. Get your instant quote for more than 250K ocean freight ratesAlready have an account? ABCC. ISF (Importer Security Filing): A regulation that requires maritime cargo imported into the US to be declared 72 hours before vessel departure. 1 Glossary of Most Common Customs Terms A Form – See Demand Note Ad Valorem – a term from Latin means "according to value"; usually refers to a tax, duty, or charge based on the cargo’s value. And just how are SOLAS and VGM related? All Business undertaken by RJJ Freight Ltd of whatever nature is subject to the Standard Trading Conditions of BIFA 2005A edition. LTL (Less than Trucking Load): Similar to LCL but for land transportation. Ad Valorem Duty – Duty and taxes which are calculated on the basis of value. This excludes transportation services before and after loading. Any act which could not have been prevented by humam care and forethought. Act of God. Familiarize yourself with them right from the beginning so you get accustomed to seeing and hearing about them throughout your shipping process. The International Maritime Organisation (IMO) is an intergovernmental specialised agency of the United Nations responsible for regulating the shipping industry, ranging from safety and pollution standards to maritime security and shipping efficiency requirements. Looking for the abbreviation of International Trade Terms? In the old days the need for keeping the length of communication offshore was imperative to save time. 3rd Floor, Nguyen Lam Tower, 133 Duong Ba Trac Street, Ward 1, Dist. SOLAS (Safety of Life at Sea): An international maritime treaty that sets basic measures for the safe construction, equipment, and operation of merchant vessels. GATT (General Agreements on Tariffs & Trade) – an international multilateral agreement embodying a code of practice for fair-trading in international commerce with headquarters in … The Web's largest and most authoritative acronyms and abbreviations resource. These abbreviations are still used more or less today. Glossary of terms used in world trade of goods, products and services, in 4 languages: Spanish, English, French and German. A/C. What’s the difference between HS and HTS codes? The Fairplay book of shipping abbreviations: Acronyms and abbreviations used in shipping and international trade [Kapoor, Peter] on Amazon.com. BL o BoL (Bill of Lading): The Bill of Lading is a document that serves as evidence of a contract of carriage between the shipper and carrier. It was the ISO that prescribed the standard size of shipping containers to make global container trade more efficient. Importer, exporter, and cargo information must be included. Are you aware? I'd like to get pricing alerts, new available routes, & relevant information from iContainers (optional), declare the VGM of their shipping containers, Ordinary General Shareholders’ Meeting - 2018. ADCOM. ISF International Shipping Federation ISIC International Standard Industrial ISIC International Standard Industrial Classification ISIC International Standard Industrial Classification IS--Information systems ISM Institute of Supply Management ISM -International Safety Management ISM(C) International Safety Management Code Applying Incoterms to sale and purchase contracts makes global trade easier and helps partners in different countries understand one another. Be it with providers, freight forwarders, or agents, you must have come across these terms and concepts a million times. Account. LCL (Less than Container Load): Also known as groupage or a shared container, LCL shipments are shipped alongside other cargo in one single shipping container. These abbreviations include abbreviations used in Export, abbreviations in Import, list of antonyms in shipping trade, abbreviations used in freight forwarding business and commonly used terms in customs brokering. P2P (Port to Port): In port-to-port shipping, cargo is shipped from the port of origin to the port of destination. 20+ International Trade acronyms and abbreviations related to International Shipping: ETA (Estimated Time of Arrival): The day an international shipment is estimated to arrive at the port of destination. Cosmo has defined the 2010 Incoterms abbreviations, such as FOB, CFR, and DAP for international trade. The Fairplay book of shipping abbreviations : acronyms and abbreviations used in shipping and international trade. When you’re getting quotes from suppliers they will almost always give you three pieces of information: the price per unit, the MOQ (minimum order quantity), and the shipping terms. Get this from a library! VGM (Verified Gross Mass): The total gross weight of a shipping container (including dunnage, bracing, and tare). Amsterdam-Antwerp-Rotterdam Area. For participants in international trade and transpor t: Abbreviation:- A shortened or contracted form of a word or phrase used in place of the whole Term:- Name, expression or word used for some particular thing, especially in a specialized field of knowledge The following are the list of commercial terms used in international trade and the documents required under them. BIFA (British International Freight Association) BIFA is a trade association for UK registered companies engaged in international movement of freight by all modes of transport, air, road, rail and sea. Common Shipping Terms Abbreviation for International Trade Shipment Terms and Conditions: We have to face so many shipping terms and abbreviations during shipping or shipment (LCL sea shipment or air shipment) the products to the foreign buyers.In some cases, these terms are known and in most of the cases, it’s unknown to us. Merchandise shipped under FCL does not share container space with other merchandise. International Trade abbreviations in International Shipping. Agency - The right given by an individual, body or firm to another person or company to act on its COO – Certificate Of Origin – issued by the local Chamber Of Commerce … used. IMO (International Maritime Organization): Under IMO 2020 regulations, starting 1 Jan 2020, the sulfur content in marine fuels will be capped at 0.5%, down from the current 3.5%. Full Forms related to all categories like Academic and Science, Business, Finance, Community, Computing, Governmental, Internet, Miscellaneous, Regional, Medical, Sports and International with hundreds of sub categories with described abbreviations with Full Forms list. ABT. CFR—Cost and Freight (named destination port)The seller clears the goods for export and pays the costs and freight to the named port of destination. Arab British Chamber of Commerce. Here's a handy guide to Incoterms, a set of international rules for the interpretation of the most commonly used trade terms. IATA - International Air transport Association An international organisation of airlines that regulate conditions of operation, safety, schedules and pricing for international air transport - We are ranked No. Maritime Organisation Names – Acronyms and abbreviations IMO – International Maritime Organisation. Delay fees and GRIs have the potential to greatly affect your overall shipping costs. 1 in New Zealand NVOCC - Non-Vessel Operating Common Carrier Acts like a shipping … Read More Abbreviations - W International Commercial Terms (Incoterms), published by the International Chamber of Commerce since 1936, is a recognized standard used worldwide in international contracts for sales of goods. ELD (Electronic Logging Device) Mandate: The ELD mandate is US regulation requiring drivers of commercial motor vehicles to log their hours of service electronically. buyer’s warehouse) at destination. HS (Harmonized System): HS codes are six-digit codes that classify goods according to their nature to determine the amount of taxes and duties that need to be paid. FCL (Full Container Load): A container shipment that utilizes an entire container. 20 shipping acronyms all shippers should know - Infographic. AAA. abbreviations of the trade terms annexed hereto be accepted and used by Governments, international organizations and business whenever these trade terms are referred to in abbreviated form and mutually promote their use in support of a common approach to trade facilitation. The list of International Trade abbreviations in International Shipping. 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