Freight Glossary

  • Bill of Lading (B/L) – This serves as the receipt of a shipment of goods delivered to a predetermined destination. This is also a proof of ownership of the cargo and provides the terms and conditions of the contract of carriage. Information concerning the goods such as the condition, number of units, insurance, delivering point and freight payment will all be stated on it.
  • FCR (Forwarder’s Certificate of Receipt) – It is an official acknowledgement of the goods received and the operator assumes responsibility for the delivery upon signing.
  • FIATA Forwarding Instruction (FFI) – This contains information and instructions given by the customer.
  • FIATA SDT – This is a declaration of hazardous goods. The forwarder is to classify and adhere to regulations governing each mode of transport.
  • Brokerage Fee – The fee paid to an agent to facilitate transactions between a buyer and a seller. This is a percentage of the amount received by the ship-owner.
  • C & F/ CFR or Cost and Freight – A method which requires the seller to pay for the loading costs and ocean freight, and to provide the buyer with necessary documents to obtain the cargo from the carrier.
  • ETA – Estimated Time of Arrival
  • ETD – Estimated Time of Departure
  • ETR – Estimated Time of Readiness
  • Laycan / LC, or Laydays and Cancelling – The period during which the ship-owner must inform the charterer that the ship has arrived and is ready to load.
  • SATSHEX – Saturdays, Sundays & Holidays Excluded
  • SHINC – Sundays & Holidays Included
  • SHEX – Sundays & Holidays Excluded
  • Air Waybill – It is a bill of lading for shipments via domestic and international flights. The receipt, which states the air carrier’s acceptance of goods and obligation to transport them to the destination airport, is given to the shipper.
  • Payload – The total weight that an aircraft can carry.
  • Allotment – It refers to the space in which the airline has reserved for the shippers.
  • DDP – Deliver Duty Paid
  • DDU – Deliver Duty Unpaid
  • Transhipment – It is the shipping of an exported product through an intermediate country before routing it to the intended destination country.


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