Terminology

L/C

Letter of Credit – Mode of payment.

B/L

Bill of Lading - a receipt that lists the merchandise and serves as the property title.

EXPRESS RELEASE

Issuance of a non-original Bill of Lading (B/L).

SURRENDER B/L

Issuance of original Bill of Lading (B/L) and validated as an express release (the copy serves as the original).

SEAWAYBILL

Issuance of a non-original Bill of Lading (B/L).

SHIPPER

The exporter or shipper.

CONSIGNEE

El importador o receptor de la mercancía.

NOTIFY

To whom the arrival shall be reported.

ETD

Date of expected departure.

ETA

Date of expected arrival.

TT TRANSIT TIME

Time in transit.

THC

Terminal handling charge – cost of handling at the origin or destination port.

GRI

General rate increase - General increase of fleets

CAF

Current adjustment factor.

BAF

Bunker adjustment factor - adjustment due to modifications of the crude price.

PSS

Peak season surcharge - surcharge for high season due to the lack of space on the boats

SC, CANAL DE SUEZ

Surcharge for boat passage through the Suez Canal.

ISPS

International Ship and Port Facility Security – security surcharge.

RECARGO IMO

Surcharge for dangerous merchandise

OWS

Over-weight surcharge - surcharge for transporting heavy containers, generally applied at 20'.

LCL

Less container load - partial load of a container (groupage).

FCL

Full container load.

FEEDER

A boat that moves merchandise to the main port and connects it to the ocean liner.

REEFER

A container adapted to transporting refrigerated and/or frozen merchandise.

IATA RA

 

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Total Freight Logistics