Customs agency

Customs is an authority or agency in a country responsible for collecting and safeguarding customs duties and for controlling the flow of goods including animals, transports, personal effects and hazardous items in and out of a country. Depending on local legislation and regulations, the import or export of some goods may be restricted or forbidden, and the customs agency enforces these rules

Customs officer

An individual or firm licensed by customs authorities to enter and clear imported goods through customs

Letter of credit (L/C)

A letter of credit is a document issued by a financial institution, or a similar party, assuring payment to a seller of goods and/or services. The seller then seeks reimbursement from the buyer or from the buyer's bank. The document serves essentially as a guarantee to the seller that it will be paid by the issuer of the letter of credit regardless of whether the buyer ultimately fails to pay. In this way, the risk that the buyer will fail to pay is transferred from the seller to the letter of credit's issuer. The letter of credit also insures that all the agreed upon standards and quality of goods are met by the supplier.

Shipowner

A shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freight rate

AWB / MAWB / HAWB

MAWB – The waybill issued by the air transport company is called Master Air Waybill. It is the basis of the air transportation company to handle the goods transport and delivery, it’s the contract between the shipper and air transportation company, each batch air transport goods has its own corresponding master air waybill.
AWB – The AWB issued by the centralized shipper for groupage business called Air Waybill.
In the case of groupage, besides the MAWB issued by the air transportation company, the centralized shipper also will issue House Air Waybill.
The basic difference between Master AWB and House AWB is that Master AWB is issued by an airline whereas House AWB is issued by a Freight Forwarding Agent.

Bill of Landing

A legal document between the shipper of a particular good and the carrier detailing the type, quantity and destination of the good being carried. The bill of lading also serves as a receipt of shipment when the good is delivered to the predetermined destination. This document must accompany the shipped goods, no matter the form of transportation, and must be signed by an authorized representative from the carrier, shipper and receiver

Booking

the specification of the carriage, on its basis, the terms and conditions agreed between the contracting parties are established and confirmed.

CFS

Container Freight Station – A port facility for loading and unloading containerized cargo to and from ships. Also called container terminal.

CMR

Standardized document for cross-border transport of cargo by road, based on UN recommendations for uniform international rules and in force in the European Union. CMR stands for 'Convention relative au contrat de transport international de Marchandises par route,' the French name for the convention that governs its definitions and application.

DGD

Dangerous Goods Declaration – A document prepared by a consignor or shipper to certify that the dangerous goods being transported have been packaged, labeled, and declared in accordance with the standard international shipping regulations.

DGR

Dangerous Goods Regulations provide a harmonized system for operators to accept and transport dangerous goods safely and efficiently during air transport.

EDI

A transfer of information from one computer to another electronically. In business this typically refers to a Electronic Data Interchange (EDI), which is a system used to communicate business and financial transactions between parties. EDI usually takes the form of direct transactions between computers, databases and order systems.

Express B/L

A nonnegotiable bill of lading that is sent by fax or electronic ways.

Incoterms

International Commercial terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC), the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods.

EXW (Ex Works)

A trade term requiring the seller to deliver goods at his or her own place of business. All other transportation costs and risks are assumed by the buyer.

FCA (Free Carrier)

A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. Costs for transportation and risk of loss transfer to the buyer after delivery to the carrier. When used in trade terms, the word "free" means the seller has an obligation to deliver goods to a named place for transfer to a carrier.

FAS (Free Alongside Ship)

A trade term requiring the seller to deliver goods to a named port alongside a vessel designated by the buyer. "Alongside" means that the goods are within reach of a ship's lifting tackle.

FOB (Free On Board)

A trade term requiring the seller to deliver goods on board a vessel designated by the buyer. The seller fulfills its obligations to deliver when the goods have passed over the ship's rail.
When used in trade terms, the word "free" means the seller has an obligation to deliver goods to a named place for transfer to a carrier.

CFR (Cost and Freight)

A trade term requiring the seller to arrange for the carriage of goods by sea to a port of destination, and provide the buyer with the documents necessary to obtain the goods from the carrier. Under CFR, the seller does not have to procure marine insurance against the risk of loss or damage to the goods during transit.

CPT (Carriage Paid To)

An agreement between a seller and a buyer indicating that the seller is responsible for the costs of shipping a good while the buyer assumes the risk of damage to the good once it is transferred to a carrier. This means that the buyer is responsible for any insurance he/she may wish to purchase.

CIP (Carriage and insurance paid)

Seller is responsible for the payment of freight to carry goods to a named overseas destination. The seller is also responsible for providing cargo insurance at minimum coverage against the buyer's risk of loss or damage to the goods during transport. The risk of loss or damage is transferred from the seller to the buyer once the goods are delivered into the carrier's custody.

DAF (Delivered At Frontier)

In international trade, a contract specification requiring the seller to deliver goods to a named destination, usually a border location, by a predetermined time. Up to the border, the seller is responsible for all risks and expenses associated with the delivery.

DES (Delivered Ex Ship)

A trade term requiring the seller to deliver goods to a buyer at an agreed port of arrival. The seller remains responsible for the goods until they are delivered.

"DEQ

In international trade, a contract specification where the seller must deliver the goods to the wharf at the destination port. Delivered ex quay may be noted as having duty paid or unpaid. If it is marked as paid, the seller is responsible for any costs, such as duty, and risks associated with the delivery. The buyer must pay the costs and duty when the DEQ is marked as "duty unpaid."

DDU (Delivered Duty Unpaid)

A transaction in international trade where the seller is responsible for making a safe delivery of goods to a named destination, paying all transportation expenses but not the duty. The seller bears the risks and costs associated with supplying the good to the delivery location, where the buyer becomes responsible for paying the duty and other customers clearing expenses.

DDP (Delivered Duty Paid)

A transaction in which the seller must pay for all of the costs related to transporting the goods and is responsible in full for the goods until they have been received and transfered to the buyer. This includes paying for the shipping, the duties and any other expenses incurred while shipping the goods.