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International Shipping
Terminologies - T |
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T.&E.
(Transportation and
Exportation): Customs form
used to control cargo movement
from port of entry to port of
exit, meaning that the cargo is
moving from one country, through
the United States, to another
country.
Tail: The rear of a
container or trailer-opposite
the front or nose.
Tare Weight: The weight
of packing material, or in
railcar or container shipments,
the weight of the empty railcar
or empty container.
Tariff: A document issued
by a carrier setting forth
applicable rules, rates, and
charges for the movement of
goods. It sets up a contract of
carriage between the shipper,
consignee, and carrier. In
international trade
applications, the term also
refers to a tax on imports.
Telex: Used for messages
transmitted via Western Union,
ITT and RCA to outside
companies.
Temperature Recorder: A
device to record temperature in
a container while cargo is en
route.
Tender: The offer of
goods for transportation or the
offer to place cars or
containers for loading or
unloading.
Tenor: Time and date for
payment of a draft.
Terminal: An assigned
area in which containers are
prepared for loading into a
vessel, train, truck or airplane
or are stacked immediately after
discharge from a vessel, train,
truck or airplane.
Terms of Sale: The point
at which sellers have fulfilled
their obligations so the goods
in a legal sense could be said
to have been delivered to the
buyer. They are shorthand
expressions that set out the
rights and obligations of each
party when it comes to
transporting the goods. The
following are the thirteen terms
of sale in international trade
as reflected in the
International Chamber of
Commerce Terms of Trade (INCOTERMS),
effective July, 1990: |
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EXW (Ex
Works): The seller fulfills
the obligation to deliver when
the goods are made available at
the seller's premises (works,
factory, warehouse, etc.) to the
buyer. In particular, the seller
is not responsible for loading
the goods in the vehicle
provided by the buyer or for
clearing the goods for export,
unless otherwise agreed. The
buyer bears all costs and risks
involved in the taking the goods
from the seller's premises to
desired destination. This term
thus represents the minimum
obligation for the seller.
FCA (Free Carrier): The
seller delivers goods, cleared
for export, to a carrier named
by the buyer at a named place.
If no designated point is
indicated by the buyer, the
seller may choose, within the
place or range stipulated, where
the carrier may include any
party that undertakes to provide
transportation services.
FAS (Free Alongside Ship):
The seller delivers the goods
alongside the vessel on the quay
or in lighters at the named port
of shipment. The buyer bears all
risks of loss or damage from
that moment, contracts and pays
for carriage, and clears the
goods for export.
FOB (Free On
Board-International Use):
The seller's responsibility ends
when the goods pass over the
ship's rail at the named port of
shipment. The buyer bears all
costs and risks of loss or
damage from that moment,
contracts and pays for carriage,
and clears the goods for export.
CFR (Cost and Freight):
The seller prepays the cost of
carriage to the named port of
destination, and clears the
goods for export. Risk of cargo
loss or damage transfers to the
buyer when the goods pass the
ship's rail at the port of
shipment.
CIF (Cost, Insurance, and
Freight): The seller has the
same obligations as under the
CFR but also has to procure
marine insurance against the
buyer's risk of loss or damage
to the goods during the
carriage. The seller contracts
for insurance and pays the
insurance premium.
CPT(Carriage Paid To):
The seller pays the freight for
the carriage of the goods to the
named destination. The risk of
loss or damage to the goods, as
well as any additional costs due
to events occurring after the
time the goods have been
delivered to the carrier, is
transferred from the seller to
the buyer when the goods have
been delivered into the custody
of the carrier. If subsequent
carriers are used for the
carriage to the agreed upon
destination, the risk passes
when the goods have been
delivered to the first carrier.
CIP (Carriage and Insurance
Paid To): The seller has the
same obligations as under CPT,
but also must contract and pay
for insurance against the
buyer's loss of or damage to the
goods during the carriage. The
seller contracts for insurance
and pays the insurance premium.
The buyer should note that under
the CIP term, the seller is
required to obtain insurance
only on minimum coverage.
DAF (Delivered At Frontier):
The seller fulfills the
obligation to deliver when the
goods have been made available,
cleared for export, at the named
point, and placed at the
frontier, but before the customs
border of the adjoining country.
DDU (Delivered Duty Unpaid):
The seller fulfills the
obligation to deliver when the
goods have been made available
at the named place in the
country of importation.The
seller has to bear the costs and
risks involved in bringing the
goods thereto (excluding duties,
taxes and other official charges
payable upon importation) as
well as the costs and risks of
carrying out customs
formalities. The buyer has to
pay any additional costs and to
bear any risks caused by failure
to clear the goods for in time.
DDP (Delivered Duty Paid):
The seller fulfills his
obligation to deliver when the
goods have been made available
at the names place in the
country of importation. The
seller has to bear the risks and
costs, including duties, taxes
and other charges of delivering
the goods thereto, clear for
importation. While the EXW term
represents the minimum
obligation for the seller, DDP
represents the maximum.
DES (Delivered Ex Ship):
The seller fulfills the
obligation to deliver when the
goods have been made available
to the buyer onboard the ship,
uncleared for import at the
named port of destination. The
seller bears all costs and risks
involved in bringing the goods
to the named port of
destination.
DEQ (Delivered Ex Quay (Duty
Paid)): The DDU term has
been fulfilled when the goods
have been available to the buyer
on the quay (wharf) at the named
port of destination, cleared for
importation. Attaching the term
"Duty Paid" indicates that the
seller bears all risks and costs
of delivery to the named point,
including duties and other
import charges. Attaching the
term "Duty Unpaid" indicates
that the buyer must clear the
goods for import and pay duties.
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TEU:
Twenty-foot equivalent unit
container. Used to measure a
vessel's capacity.
Through Rate: The total
rate from the port of origin to
final destination.
Throughput Charge: The
charge for moving a container
through a container yard off or
onto a ship.
Time Charter: A contract
for leasing between ship owners
and the lessee. It would state
the duration of the lease in
years or voyages.
Time Draft: A draft that
matures either a certain number
of days after acceptance or a
certain number of days after the
date of the draft.
TIR (Transport Internationaux
par la Route): Road
transport operating agreement
among European governments and
the United States for the
international movement of cargo
by road. Display of the TIR
carnet allows sealed
containerloads to cross national
frontiers without inspection.
TL: Abbreviation for
Trailer Load.
TOFC (Trailer on Flat Car):
The movement of a highway
trailer on a railroad flatcar.
Also known as piggyback.
Ton-Mile: Unit used in
comparing freight earnings or
expenses. The amount earned from
the cost of hauling a ton of
freight one mile. The movement
of a ton of freight one mile.
Tonnage: Generally refers
to freight handled.
Top-Air Delivery: A type
of air circulation in a
container. Air is drawn from the
bottom of the container,
filtered through the evaporator
for cooling and then forced
through the ducted passages
along the top of the container.
This type of airflow requires a
special loading pattern.
Towage: The charge made
for towing a vessel.
Tractor: Unit of highway
motive power used to pull one or
more trailers/containers.
Trade Acceptance: A time
or date draft that has been
accepted by the buyer (the
drawee) for payment at maturity.
Traffic: Person or
property carried by transport
lines.
Trailer: The truck unit
into which freight is loaded as
in tractor-trailer combination.
Tramp Line: An ocean
carrier company operating tramp
steamers not on regular runs or
schedules.
Transport: To move
traffic from one place to
another.
Transportation: The
movement of traffic from one
place to another.
Transmittal letter: A
letter from the shipper to its
agent that lists the particulars
of a shipment, the documents
being transmitted, and
instructions for the disposition
of those documents.
Transshipment: Shipment
of merchandise to the point of
destination in another country
on more than one vessel or
vehicle. The liability may pass
from one carrier to the next, or
it may be covered by "through
bills of lading" issued by the
first carrier. Sometimes
referred to as relay.
Transshipment Port: Place
where cargo is transferred to
another carrier.
Turnaround: In water
transportation, the time it
takes between the arrival of a
vessel and its departure.
Twist Locks: A set of
four twistable bayonet-type
shear keys used as part of a
spreader to pick-up a container
or as part of a chassis to
secure the containers.
Two-Way Pallet: A pallet
so designed that the forks of a
fork lift truck can be inserted
from two sides only. |
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