C – Shipping Terms
C&F Terms of Sale, or INCOTERMS
Obsolete, although heavily used, term of sale meaning “cargo and freight” whereby Seller pays for cost of goods and freight charges up to destination port. In July, 1990 the International Chamber of Commerce replaced C&F with CFR.
Water transportation term applicable to shipments between ports of a nation; commonly refers to coastwise or intercoastal navigation or trade. Many nations, including the United States, havecabotage laws which require national flag vessels to provide domestic interport service.
Abbreviation for “Currency Adjustment Factor.” A charge, expressed as a percentage of a base rate that is applied to compensate ocean carriers of currency fluctuations.
A dry bulk vessel above 80,000dwt or whose beam precludes passage via the Panama Canal and thus forces them to pass around Cape Horn or the Cape of Good Hope.
A document prepared by the captain of a vessel on arriving at port; shows conditions encountered during voyage, generally for the purpose of relieving ship owner of any loss to cargo and shifting responsibility for reimbursement to the insurance company.
Use of individual carrier/rail equipment through a central agency for the benefit of carriers and shippers.
Metal strip and lead fastener used for locking freight car or truck doors. Seals are numbered for record purposes.
A barge equipped with tracks on which up to approximately 12 railroad cars are moved in harbors or inland waterways.
Freight loaded into a ship.
A manifest that lists all cargo carried on a specific vessel voyage.
Cargo Not Otherwise Specified. Usually the rate entry in a tariff that can apply to commodities not covered under a specific item or sub–item in the applicable tariff.
Cargo reserved by a Nation’s laws for transportation only on vessels registered in that Nation. Typically the cargo is moving due to a direct or indirect support or activity of the Government.
Most ocean freight is billed on the basis of weight or measurement tons (W/M). Weight tons can be expressed in short tons of 2000 pounds, long tons of 2240 pounds or metric tons of 1000 kilos (2204.62 pounds). Measurement tons are usually expressed as cargo measurement of 40 cubic feet (1.12 meters) or cubic meters (35.3 cubic feet.)
A rate applicable to a carload of goods.
A customs document permitting the holder to temporarily carry or send merchandise into certain foreign countries (for display, demonstration or similar purposes) without paying duties or posting bonds. Any of various Customs documents required for crossing some international borders.
Any person or entity who, in a contract of carriage, undertakes to perform or to procure the performance of carriage by rail, road, sea, air, inland waterway or by a combination of such modes.
A certificate required by U.S. Customs to release cargo properly to the correct party.
Usually refers to intra–city hauling on drays or trucks. Same as drayage.
Customs form permitting in–bond cargo to be moved from one location to another under Customs control, within the same Customs district. Usually in motor carrier’s possession while draying cargo.
Cash Against Documents (CAD)
Method of payment for goods in which documents transferring title are given the buyer upon payment of cash to an intermediary acting for the seller, usually a commission house.
Cash in Advance (CIA)
A method of payment for goods in which the buyer pays the seller in advance of the shipment of goods. Usually employed when the goods, such as specialized machinery, are built to order.
Cash With Order (CWO)
A method of payment for goods in which cash is paid at the time of order and the transaction becomes binding on both buyer and seller.
Abbreviation for “Cubic Meter.”
Abbreviation for “Consumption Entry.” The process of declaring the importation of foreign–made goods for use in the United States.
The construction system employed in container vessels; permits ship containers to be stowed in a vertical line with each container supporting the one above it
Center of Gravity
The point of equilibrium of the total weight of a containership, truck, train or a piece of cargo.
Certificate of Inspection
–A document certifying that merchandise (such as perishable goods) was in good condition immediately prior to its shipment.–The document issued by the U.S. Coast Guard certifying an American–Flag vessel’s compliance with applicable laws and regulations.
Certificate of Origin
A certified document showing the origin of goods; used in international commerce.
Abbreviation for “Container Freight Station.” A shipping dock where cargo is loaded (“stuffed”) into or unloaded (“stripped”) from containers. Generally, this involves less than container load shipments, although small shipments destined to same consignee are often consolidated. Container reloading from/to rail or motor carrier equipment is a typical activity. These facilities can be located in container yards, or off dock.
A written contract between the owner of a vessel and the person desiring to employ the vessel (charterer); sets forth the terms of the arrangement, such as duration of agreement, freight rate and ports involved in the trip.
A frame with wheels and container locking devices in order to secure the container for movement.
A piece of wood or other material placed at the side of cargo to prevent rolling or moving sideways.
A mark or label indicating the cargo conforms to standards required by China for certain products.
A mark or label indicating the cargo conforms to standards required by the European Union for certain products.
Abbreviation for “Cost and Insurance.” A price that includes the cost of the goods, the marine insurance and all transportation charges except the ocean freight to the named point of destination.
CIF (Named Port)
Abbreviation for “Cost, Insurance, Freight.” (Named Port) Same as C&F or CFR except seller also provides insurance to named destination.
Price includes commission as well as CIF.
Abbreviation for “Cost, Insurance, Freight and Exchange.”
Abbreviation for “Cost, Insurance, Freight, Collection and Interest.”
Abbreviation for “Cost, Insurance, Freight, Interest and Exchange.”
Abbreviation for “Completely Knocked Down.” Parts and subassemblies being transported to an assembly plant.
Abbreviation for “Carload” and “Containerload”.
A demand made upon a transportation line for payment on account of a loss sustained through its alleged negligence.
A publication, such as Uniform Freight Classification (railroad) or the National Motor Freight Classification (motor carrier), that assigns ratings to various articles and provides bill of lading descriptions and rules.
The designation provided in a classification by which a class rate is determined.
An organization maintained for the surveying and classing of ships so that insurance underwriters and others may know the quality and condition of the vessels offered for insurance or employment.See also ABS, BV, DNV, LR and NK.
A railroad yard with many tracks used for assembling freight trains.
An anti–trust act of the U.S. Congress making price discrimination unlawful.
Clean Bill of Lading
A receipt for goods issued by a carrier with an indication that the goods were received in “apparent good order and condition,” without damage or other irregularities. If no notation or exception is made, the B/L is assumed to be “cleaned.”
Cleaning in Transit
The stopping of articles, such as peanuts, etc., for cleaning at a point between the point of origin and destination.
The size beyond which cars or loads cannot use bridges, tunnels, etc.
A strip of wood or metal used to afford additional strength, to prevent warping, or to hold in place.
Refrigeration equipment attachable to an insulated container that does not have its own refrigeration unit.
Abbreviation for “Cubic Meter” (capital letters).
Abbreviation for “centimeter.”
Water transportation along the coast.
Abbreviation for:–Collect (cash) on Delivery.–Carried on Docket (pricing).
Abbreviation for the Railway Service “Container On Flat Car.”
Carriage of Goods by Sea Act. U.S. federal codification passed in 1936 which standardizes carrier’s liability under carrier’s bill of lading. U.S. enactment of The Hague Rules.
A bank that acts as an agent to the seller’s bank (the presenting bank). The collecting bank assumes no responsibility for either the documents or the merchandise.
A draft drawn on the buyer, usually accompanied by documents, with complete instructions concerning processing for payment or acceptance.
Combination Export Mgr.
A firm that acts as an export sales agent for more than one non–competing manufacturer.
A rate made up of two or more factors, separately published.
Represents a complete record of the transaction between exporter and importer with regard to the goods sold. Also reports the content of the shipment and serves as the basis for all other documents relating to the shipment.