Multiple shipments from different sellers to a single consignee that are consolidated by the carrier into a single shipment.

The AWB is a document that controls the routing of an exporter’s cargo while it is in the hands of the air carrier or a consolidator. It is a contract for carriage; however, it cannot be negotiated.

Refers to the side of a ship. Goods delivered alongside are placed on the dock or barge within reach of the ship’s rigging so it can be easily loaded onto the ship.

When freight appears to be free of damage after being assessed it is said to be in apparent good order.

Notification provided by the carrier when a shipment has arrived to the consignee or notify party.

Means either "behind a ship" or "to move a ship in reverse direction."

With regards to exporting, companies are strongly encouraged to maintain an audit trail documenting their compliance screenings in order to demonstrate due diligence in case of an audit. Having an audit trail may protect your company from fines or penalties in the case of an export compliance violation.

A satellite system used by ships and vessel tracking service (VTS) to identify and locate ships.

Cargo carried on a return journey.

Freight that is low weight but high volume (light but bulky).

The width of a ship.

A document issued by a carrier or their agent acknowledging receipt of cargo for shipment. Often abbreviated as BOL, BoL, B/L or BL.

A document that confirms transfer of goods in exchange for money.

The party paying for goods or services in a transaction.

Wood or metal supports used to secure cargo while in transit. Also called dunnage.

Loading cargo close together to minimize movement of goods while in transit.

A piece of equipment attached to a chassis or railcar to secure the container.

The initial port of entry where a vessel transporting goods first arrives at a country.

Arrangements made with a carrier for the movement of cargo; space reservation.

The front of a vessel.

Empty space in a container not occupied by cargo.

Cargo that is shipped loose as opposed to being shipped in packages or containers. Grain and coal are examples of goods usually shipped as bulk cargo.

A device attached to the floor of a container which is used to secure cargo.

Transport of goods between two places in the same country by a transporter from another country.

Any goods being transported, regardless of the mode of transport.

Information submitted prior to, upon arrival or upon departure of an international shipment required by a country’s customs authority.

A document detailing the cargo carried on a ship, often provided to a customs authority.

A document permitting the holder to temporarily send goods to certain foreign countries for display or demonstration purposes without having to pay duties.

A carrier is a party that transports goods for another person or company and is responsible for any possible loss of or damage to the goods during transport. A common carrier provides transportation services to the public in return for compensation.

A label indicating cargo conforms to standards established by the Chinese government.

A label indicating cargo conforms to standards established by the European Union.

A document issued by an authorized party that states that a particular product meets relevant standards of quality and performance.

A document certifying that merchandise is in good condition immediately prior to being shipped.

A document certifying where goods were originally made. A COO specific to a particular free trade agreement may be used to claim preferential duty treatment. A generic certificate of origin may be requested by the customs authority of the country of import, in which case the COO must be stamped by a chamber of commerce.

CFR is an Incoterm for sea and inland waterway transport. Seller clears the goods for export and delivers them when they are on board the vessel at the port of shipment. Seller bears the cost of freight to the named port of destination. Buyer assumes all risks for the goods from the time the goods have been delivered on board the vessel at the port of shipment.

An association of businesses that may serve several functions, including advocating or lobbying for their member companies, organizing business-related programming and events in their communities, and, perhaps most relevant for exporters, providing document certification services.

The base frame of a wheeled vehicle, used to secure a container prior to movement.

Material (often wood) placed next to cargo to prevent excessive movement of the cargo during transit in order to avoid damage.

CIF is an Incoterm for sea and inland waterway transport. Seller clears the goods for export and delivers them when they are on board the vessel at the port of shipment. Seller bears the cost of freight and insurance to the named port of destination. The seller is required to purchase the minimum level of insurance under Clause C of the Institute Cargo Clauses. Buyer is responsible for all costs associated with unloading the goods at the named port of destination and clearing goods for import. Risk passes from seller to buyer once the goods are on board the vessel at the port of shipment.

CIP is an Incoterm for any mode of transport. Seller clears the goods for export and delivers them to the carrier or another person stipulated by the seller at a named place of shipment, at which point risk transfers to the buyer. Seller is responsible for the transportation costs associated with delivering goods and procuring insurance coverage to the named place.

In the context of logistics, a claim is a demand made by a customer to a transportation company for payment in order to compensate for loss or damage of goods.

CM (uppercase) stands for “cubic meters,” while cm (lowercase) stands for “centimeters.”

A fundamental document for an international transaction with details including what goods are being shipped, who is the shipper and who is the ultimate consignee. Serves as the basis for all other documents related to the shipment.

Any commercial good that is shipped.

Shortage of or damage to goods shipped that is not immediately evident upon delivery.

A carrier which acts as an intermediary between two or more other carriers.

The person or place to whom a shipment will be transferred. The ultimate consignee is the final recipient of the goods, while an intermediate consignee takes possession of the goods for a portion of the time that they are in transit.

Refers to the exporter or shipper from which the goods originate.

When cargo from multiple shippers is combined in a single container.

A truck trailer loaded with cargo that can be detached for loading onto a vessel or railcar. Different types of containers exist for different shipping needs. For example, a container may be ventilated, refrigerated, insulated, dehumidified or equipped with special devices used to secure certain types of cargo. A container shipment is a large shipment, typically over 20,000 pounds.

A load large enough in volume or weight to fill a container.

A document stating the contents of a container, its point of origin and point of destination. Vessels may be required by law to produce a manifest for every container being transported.

Prohibited cargo such as illegal drugs or unauthorized weapons.

Additional duties imposed by an importing country to offset government subsidies in an exporting country when the subsidized imports cause material injury to domestic industry in the importing country.

Where an item was made, mined, grown, manufactured or substantially transformed. Most items imported into the United States require a country of origin marking, also known as C/O marking,

CPT is an Incoterm for any mode of transport. Seller clears the goods for export and delivers them to the carrier or another person stipulated by the seller at a named place of shipment. Seller is responsible for the international transportation costs associated with delivering goods to the named foreign place of destination. The transfer of risk, on the other hand, transfers from the seller to the buyer as soon as the goods are delivered to the international carrier. That means the buyer assumes the risk of loading the goods on the carrier and during the international transport of the goods.

A government office where duties are paid and import and export paperwork are filed.

A customs authority, or customs for short, refers to the agency within a government that is responsible for collecting duties and enforcing import and export regulations.

A warehouse authorized by customs to receive duty-free goods.

An individual or organization who helps a shipper navigate customs requirements.

The process in which a customs authority assesses a shipment being imported in their country in order to ensure compliance with their country’s import regulations. A shipment that has been approved by the customs authority and allowed to enter the commerce of their country is said to have cleared customs.

A document that traditionally accompanies exported goods bearing information like the nature of the goods, their value, the consignee, and their ultimate destination.

A document required by a country’s customs authority, which serves the same purpose as a standard commercial invoice but also contains additional information such as a certificate of origin.

A phrase referring to local rules and practices that may impact a shipment

Some shipments involve no actual monetary transaction between the exporter and the ultimate consignee, such as shipments for repair under warranty, or shipments of items used for display at trade shows. These shipments are still subject to duties and taxes, and exporters must list the monetary value of the items in the shipment on the customs invoice to enable the customs authority in the country of import to assess how much duty the importer must pay. In these cases, the exporter should include a customs value only statement on the invoice.

The latest time cargo may be delivered to a terminal for loading.

A product may be considered a dangerous good if it is corrosive, flammable, poisonous, toxic, explosive, etc. Shipping dangerous goods may require special documentation or packaging to ensure safety.

A document required when shipping dangerous goods (also known as hazardous materials or HazMat). There are two main versions: the DG IATA form for air transport and the DG IMO form for inland and ocean transport. There is a third version specifically for shipments of lithium batteries, which is called a Lithium Battery Declaration.

DAP is an Incoterm for any mode of transport. Seller clears the goods for export and bears all risks and costs associated with delivering the goods to the named foreign destination not unloaded. DAP means the buyer is responsible for all costs and risks associated with unloading the goods and clearing customs to import the goods into the named country of destination.

A document used when the exporter extends credit to the buyer. It specifies a date when the payment is due rather than a time period as with a Time Draft.

Abbreviation for “dangerous and hazardous” cargo.

The sale by an exporter directly to an importer located in another country.

DDP is an Incoterm for any mode of transport. The seller bears all risks and costs associated with delivering the goods to the named place of destination ready for unloading and cleared for import.

Location where cargo is separated in preparation for delivery.

Transmission of controlled technology, source code or information to a foreign national at home or abroad. Export regulations apply to deemed exports as well.

A document signed and dated by a consignee or their authorized agent confirming receipt of goods and stating the condition of the goods upon delivery.

Demurrage is a charge to be paid by a shipper or consignee to the carrier as penalty for delaying the carrier’s cargo beyond the allowed free time. Detention is the same as demurrage except that instead of applying to delays in cargo, detention applies to delays in equipment.

When documents presented do not conform to the requirements of the letter of credit. Banks will not accept letters of credit that have discrepancies.

Diversion refers either to 1) a change made to the route of a shipment or to the route of the entire vessel or 2) the transfer of goods from the intended end-user to some other party.

For road transportation, a platform from which trucks are loaded and unloaded. For sea transportation, a cargo handling area adjacent to the shoreline where a ship ties up.

DPU is an Incoterm for any mode of transport. Previously named Delivered at Terminal (DAT), this Incoterm has been renamed Delivered at Place Unloaded (DPU) because the buyer and/or seller may want the delivery of goods to occur somewhere other than a terminal. DPU is very similar to DAP except that the seller must pay for unlading the goods. Like DAP, the seller clears the goods for export and bears all risks and costs associated with delivering the goods to the named place, which can be a port or other named location in the foreign destination. Buyer is responsible for all costs and risks from this point forward including clearing the goods for import at the named country of destination.

A partial refund of an import fee, usually given if goods are re-exported from the country that collected the fee.

Transport of goods over a short distance. Some definitions specify that drayage is the transport of goods in which both the trip origin and destination are within the same urban area. Also called cartage.

A form of retail business in which the seller takes orders from customers but does not keep the items in stock. Instead, it passes on the order to a manufacturer, wholesaler, another retailer or a fulfillment house that ships the order directly to the customer.

Importing goods into a country at a price less than the fair market value.

The amount on which a customs duty is calculated.

Taxes collected on importing and exporting goods. Also called tariffs.

The electronic transmission of business documents such as invoices, purchase orders and bills of lading.

Sanctions are prohibitions designed to protect economic or national security and may include trade barriers, tariffs and restrictions on financial transactions. Embargoes are similar but usually refer to more severe restrictions such as travel bans or blockades.

Stands for empty repositioning; refers to the movement of empty containers.

The ultimate recipient of a shipment. Generally synonymous with ultimate consignee. This may be different from the party being billed for the shipment.

A legal signature that signals transfer of rights from one party to another.

In the context of importing, an entry is an official statement made to Customs regarding details of a shipment entering the country. It is usually completed by a customs broker acting on behalf of the importer.

A document used when transferring a container from one carrier to another, or from one terminal to another.

Estimated time of arrival, completion, departure, readiness or sailing.

A delivery in which the driver or recipient notes a problem on the delivery receipt before signing is referred to as an exception. An exception is usually related to shortage or damage of goods.

A shipper may pay a premium rate to obtain exclusive use of a trailer. This means the container will only be filled with the shipper’s goods and not those of any other party, even if there is additional space on the trailer.

The official interpretation of the Harmonized System (HS) at the international level, the Explanatory Notes are published by the World Customs Organization and provide a commentary on the scope of each heading, providing a list of products included or excluded, with technical descriptions of the items and guidance for their identification.

Shipment of goods out of a country. Opposite of import.

Refers to licenses, permits and other authorizations that may be required from a government to legally export or import something.

A government-issued permit that authorizes a shipper to export a certain good or to export to a certain country or party.

Specific restrictions or ceiling imposed by an exporting country on the value of volume of certain exports typically designed to protect domestic producers and consumers from temporary shortages of goods or to bolster their price in world markets.

Government penalities or other financially quantifiable benefits provided to domestic producers or exporters contingent on the export of their goods and services.

EXW is an Incoterm for any mode of transport. The seller fulfills its obligations by having the goods available for the buyer to pick up at its premises or another named place (i.e. factory, warehouse, etc.) on a date agreed upon by both parties or within an agreed-upon timeframe. The seller needs to provide the buyer the information they need to take delivery of the goods at that time. With Ex Works, the buyer bears all risk and costs starting when the goods are made available to the buyer at the seller’s location or other named place until the products are delivered to its location. Seller has no obligation to load the goods or clear them for export.

Abbreviation for “freight all kinds.” Typically refers to a full container loaded with mixed cargo.

Misrepresenting freight information on shipping documents.

FAS is an Incoterm for sea and inland waterway transport. Seller clears the goods for export and delivers them when they are placed alongside the vessel at the named port of shipment. Buyer assumes all risks/costs for goods from this point forward.

FCA is an Incoterm for any mode of transport. The seller is responsible for either making the goods available at its own premises or at a named place. In either case, the seller is responsible for loading the goods on the buyer's transport and is responsible for delivery to the port and export clearance including security requirements. Risk transfers once the goods are loaded on the buyer’s transport.

A standard 40-foot shipping container, measuring approximately 40 feet long, 8 feet wide and 8.1 feet high. One standard FEU can hold 22 to 23 pallets. The container can carry approximately 58,930 pounds, depending on the shipping line's limitations. One FEU has the capacity of two TEUs.

FOB is an Incoterm for sea and inland waterway transport. Seller clears the goods for export and delivers them when they are on board the vessel at the named port of shipment. Buyer assumes all risks and costs for goods from this moment forward.

A common clause included in contracts that exempts parties for not fulfilling their obligations due to events beyond their control, such as natural disasters or war.

The direction on a ship parallel to the center line.

Areas where commodities can be manufactured, modified or stored under specific customs regulations and generally not subject to customs duties. May be abbreviated FTZ and sometimes called a free trade zone or free port.

The amount of time that a carrier’s equipment may be used without incurring additional charges.

Any product(s) being transported.

A person who arranges transportation on behalf of a shipper. Typically a freight broker will connect small shippers to carriers who can move their goods.

A company that arranges the transportation of goods on behalf of a shipper. A freight forwarder may have its own in-house carriers or may contract with external carriers. Freight forwarders often specialize in consolidating LTL freight from multiple shippers.

Free trade agreements are made between countries in an effort to reduce barriers to trade between the participating countries. They usually involve lowering of duty rates for shipments between participating countries, but may also include provisions for intellectual property rights, environmental protection, dispute resolution and more.

A full truckload carrier is a carrier that contracts the entirety of a truck’s carrying capacity to a single customer. Often referred to as a truckload carrier.

A legal agreement between many countries which promoted international trade by eliminating trade barriers such as tariffs and quotas. It was succeeded by the World Trade Organization (WTO) in 1995, with the original GATT text remaining part of the WTO framework.

The total value of all goods and services produced by a country.

The total weight of a vehicle including the weight of the vehicle itself and any attached containers.

A place where ships stop to resupply and load or unload cargo.

An official responsible for overseeing harbor operations.

The opening on the deck of a ship that gives access to the cargo hold.

May be used interchangeably with the term “dangerous goods,” hazardous materials are goods that may pose a threat to safety because they are poisonous, toxic, corrosive, explosive, flammable, etc.

Harbor maintenance fee.

A house bill of lading (HBL) is a document issued by a freight forwarder or a non-vessel operating company (NVOCC) to a shipper to acknowledge receipt of their items for shipment. In other words, it's a receipt for the goods. This is different from the Master Bill of Lading, which is issued by the carrier and is a contract of carriage for the goods.

The Harmonized System is an internationally accepted system used to classify products. The first six digits of an HS code are universal across all countries, but each country will add additional digits to further specify products. HS codes play a role in determining import and export controls as well as duty rates. The code for a particular product is often called its tariff classification, as is the process for finding the right code.

International Maritime Dangerous Goods code; the regulations established by the International Maritime Organization (IMO) for the international transport of dangerous goods.

Shipment of goods into a country. Opposite of export.

Information submitted by an importer or their agent to their country’s customs authority before or upon importation of goods, such as the contact details of the importer, how the goods are being transported and the tariff classifications and values of the items on the shipment.

A government-issued permit authorizing a party to import a good into the country.

An import or export shipment that has not yet cleared customs is referred to as in bond.

Incoterms are universal trade terms published by the International Chamber of Commerce (ICC.) They consist of three-letter codes that are intended to clearly communicate the tasks, costs and risks associated with the transportation and delivery of goods in an international transaction. They describe how responsibility is allocated between the seller and the buyer for different parts of the transaction.

A sale by an exporter to the buyer through a domestically located intermediary, such as an export management company or an export trading company.

A document required by some purchasers and countries to attest to the specifications of the goods shipped. The inspection is usually performed by a third party.

A document prepared by the exporter or freight forwarder as evidence that insurance against loss or damage has been obtained for the goods.

A location where freight is transferred from one carrier to another.

Intermodal transportation is the movement of goods via more than one type of transportation (e.g. air, rail, sea, truck, etc.). An intermodal container is one that can be used in different modes of transport without having to unload the goods and reload them at each point at which the mode of transport changes. In the context of international trade, intermodal container is usually synonymous with container.

The ICC plays a role in rule setting, dispute resolution, and policy advocacy in international trade, supporting the commerce goals of the United Nations and the World Trade Organization.

A document listing all cargo entering a country. Required by all world ports and is the primary source from which import duties are assigned.

Abbreviation for "just in time." A method of inventory control which minimizes warehousing and in which the container itself acts as a movable warehouse and arriving on schedule is crucial.

Loaded aboard a vessel.

The total cost of an international shipment, found by adding the price paid by the buyer to the seller, shipping costs, shipment insurance and all applicable import duties and fees.

A medium shipment, typically between 150 pounds and 20,000 pounds. An LTL carrier mixes freight from several customers in a single truckload. May also be called less-than-container (LCL).

Also called a documentary collection and often abbreviated as LC or L/C, a letter of credit is a written commitment by a bank issued after a request by an importer that payment will be made to an exporter provided that the terms of the letter of credit have been met as evidenced by the presentation of certain documents.

Certain criteria may be met that allow an exporter to export a product without an export license in cases where an export license would normally be required.

An arrangement in which a company sells the rights to use its products or services but retains some control.

In the context of importing, liquidation is the process in which the customs authority finalizes its review of an entry and calculates the exact duties owed.

The amount that a vessel tilts from the vertical, measured in degrees.

The management of the flow of products as they are transported from the point of origin to their final destination. A logistics company is a general term for a company that provides logistics services, which may include freight forwarding, customs brokerage and/or consulting services.

A port employee tasked with loading and unloading ships.

In the context of shipping, malpractice refers to situations in which a carrier illegally gives preference to a customer in order to attract their business.

Relating to transport by sea.

Letters, numbers or other symbols placed on packaging used for identification purposes.

A bill of lading issued by a carrier to a freight forwarder acknowledging receipt of container for shipment. This is different from a house bill of lading which is issued by a freight forwarder to a shipper, acknowledging receipt of their items for shipment.

Not elsewhere classified, not elsewhere specified.

A negotiable instrument is a document that can be transferred from its original holder to a third party. A non-negotiable document cannot be transferred to another party. An inland or ocean bill of lading may be either negotiable or non-negotiable; a bill of lading consigned “to order” or “to order of shipper” is negotiable once it is endorsed on the back by the shipper or their representative. Air waybills are always non-negotiable.

The weight of goods not including the weight of their packaging.

Required by some countries to ensure protection against dumping of certain products.

A non-vessel operating common carrier behaves like a carrier except it doesn’t provide the actual transportation service itself. Instead, a NVOCC buys space from carriers and sells this space to shippers.

The ocean bill of lading serves as both a contract for carriage and a document of title for the cargo. The bill of lading identifies the parties on both ends of the shipment, as well as a description of the goods and routing instructions.

A notation on a bill of lading indicating that cargo has been loaded on a ship.

A notation on a bill of lading indicating that cargo has been stowed on the open deck of a ship.

A transaction in which goods are shipped to a foreign buyer without guarantee of payment.

A measure of operating efficiency based on a comparison between a carrier’s operating expenses and its net sales.

Can mean 1) location where a shipment starts its journey, or 2) country where goods were originally manufactured.

When the number of units received is greater than the quantity stated on the export documents. Opposite of shortage.

A standard document that accompanies a shipment. Also called a packing slip, this document lists the products on a shipment along with packaging information but does not include prices.

A platform on which packages may be loaded. Facilitates easier handling by a lift truck.

A small shipment, typically less than 150 pounds.

The party paid in a transaction; the seller.

The party paying money in a transaction; the buyer.

Terms that describe how money will be paid in a transaction. Typically, the shipper is responsible for payment for prepaid shipments, while the consignee is responsible for payment for collect shipments, unless a third party is indicated as the payor on the shipping documents.

A document issued by the Department of Agriculture certifying that a shipment has been inspected and is free from harmful pests and plant diseases. Used to meet import requirements of other countries.

A structure perpendicular to the shoreline to which a ship is secured in order to load or unload cargo.

Location where cargo leaves the custody of a carrier.

Location where cargo enters the custody of a carrier.

Abbreviation for 1) port of discharge, 2) port of destination, or 3) proof of delivery, a document provided by the carrier required to receive payment.

The location where a shipment is transferred from a shipper to a carrier.

Abbreviation for 1) port of loading or 2) petroleum, oil and lubricants.

May refer to 1) a harbor with piers or docks, 2) the left side of a ship (when facing forward, opposite of starboard), or 3) an opening in the side of a ship used for handling freight.

Port where a ship discharges or receives traffic.

Port where cargo is unloaded and enters a country.

Port where cargo is loaded and leaves a country.

Principal party of interest.

A document that acts as a formal quote, produced by the seller and given to the potential buyer before a transaction is finalized.

The quantity of goods that may be imported without restrictions over a set period of time.

Usually called a quote, an offer to sell goods at a stated price under stated conditions.

The formula of specific factors that play a role in determining freight rates.

Request for proposal, request for quotation.

Under ICC and common law, the requirement that a freight rate not be higher than what is necessary to reimburse the carrier and allow a fair profit.

The transfer of containers from one ship to another when both ships are controlled by the same carrier.

Funds sent by one person to another as payment.

Also called RORO or ro-ro for short, these are vessels designed to carry wheeled cargo, such as vehicles and trailers. This is in contrast to lift-on/lift off (LoLo) vessels which use a crane to load and unload cargo.

An embargo enforced by a government against another country.

Equipment such as rigging or cranes used on a ship for loading or unloading cargo.

In the context of international trade, shipper is used to identify the company selling the goods to a foreign market. The shipper may also be called the exporter or consignor in this case.

A document provided by an exporting company to their freight forwarder outlining instructions for the freight forwarder. If the freight forwarder is filing through the Automated Export System (AES) on behalf of the exporter, the SLI includes the information they need to complete the filing.

Paperwork that accompanies a shipment as it makes its way to the final destination, such as packing lists or bills of lading.

When the number of units received is less than the quantity stated on the shipping documents. Opposite of overage.

A document used when the exporter wishes to retain title to the shipment until it reaches its destination and payment is made. Before the shipment can be released to the buyer, the original "to order" ocean bill of lading must be properly endorsed by the buyer and surrendered to the carrier.

Devices placed beneath boxes or packages in order to raise them off the floor to permit access by a forklift.

Safety of Life at Sea Convention is enforced by the International Maritime Organization (IMO). Under SOLAS, exporters are required to provide a verified weight of the goods before they are loaded onto a ship for transport.

The procurement of goods or services from a particular entity or country, as well as the business process of vetting potential suppliers to determine which will give the greatest strategic advantage.

Placing a container in a position from which it can be loaded or unloaded.

The right side of a ship (when facing forward). Opposite of port.

The backside of a ship. Opposite of bow.

Said to contain.

Individual or company that employs longshoremen and contracts for the loading and unloading of ships.

Removing cargo from a container.

Putting cargo into a container.

Said to weigh.

A system of interconnected organizations and activities involved in the movement of goods from a supplier to a customer.

An extra or additional charge.

An extra or additional tax.

Backside of a container or trailer. Opposite of front or nose.

The weight of a container while empty.

A tax imposed on a product when it is imported into a country. Some foreign countries apply tariffs to exports.

Terms that define the obligations, risks and costs of the buyer and seller involving the delivery of goods that comprise an export transaction. These terms are commonly known as Incoterms.

Also called a container terminal, a location where containers are picked up, dropped off, maintained and kept.

A charge for a service carried out in a carrier’s terminal area.

A standard 20-foot shipping container, measuring approximately 20 feet long, 8 feet wide and 8 feet high. One standard TEU can hold 9 to 11 pallets. The container can carry approximately 56,000 pounds, depending on the shipping line's limitations. Two TEUs have the capacity of a single FEU.

A company that provides logistics services to other companies, such as warehousing and transportation.

A document used when the exporter extends credit to the buyer. The draft states that payment is due by a specific time after the buyer accepts the time draft and receives the goods. By signing and writing "accepted" on the draft, the buyer is formally obligated to pay within the stated time.

A company that specializes in exporting and importing goods produced or provided by other companies.

A container attached to the back end of a truck.

The transfer of cargo from one carrier to another or from one vehicle to another at an intermediate point during the goods’ journey to the final destination.

The weight (in tons) of a shipment transported by truck.

A term used in marine transportation referring to the time it takes between arrival of a ship and its departure.

The space not filled with liquid in a drum or tank.

Freight that has not been called for or picked up by the owner or ultimate consignee.

Packages loaded onto a pallet, in a crate or in some other way that allows for the goods to be handled as a single unit. This process is called unitization.

A consumption tax assessed by most countries that increases at every point in the supply chain where value is added to it.

A seafaring vehicle; a boat or ship.

A document listing details regarding the crew and cargo onboard a vessel.

A traffic monitoring system used by harbor or port authorities used to monitor ships, similar to air traffic control used to monitor aircraft.

Insurance coverage for losses resulting from an act of war.

A place for the storage, consolidation and distribution of cargo. Warehousing is the storage of cargo.

A receipt identifying the commodities deposited in a recognized warehouse. It is used to transfer accountability when the domestic carrier moves the export item to the port of embarkation and leaves it with the ship line for export.

A structure built on the shore of a harbour which facilitates the docking of ships.

An intergovernmental organization that plays a role in standardizing customs processes across the world, including maintaining the Harmonized System (HS) nomenclature for commodity classification.

An intergovernmental organization that regulates and facilitates international trade between countries. The WTO succeeded and expanded on the General Agreement on Tariff and Trade (GATT).