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Industry Terminology
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Ad Valorem
Ad valorem is a duty, tax or tariff applied to the value of an item. An ad valorem freight rate is a determined by the value of the items of freight. An ad valorem bill of lading, is a fee that is charged by the carrier, based on the value specified on the documentation for the cargo.
Agent
An agent is a person or company who is authorized to act on behalf of another person or company (in this case, in relation to the logistics of your shipment).
AQIS (Australian Quarantine Inspection Service)
AQIS manages quarantine controls for Australian borders to minimise the risk of exotic pests and diseases entering the country. AQIS also provides import and export inspection and certification to help retain Australia's highly favourable animal, plant and human health status and wide access to overseas export markets.
Arbitrary
An additional rate that may sometimes need to be applied in addition to other costs of the shipment.
BAF (Bunker Adjustment Factor)
This is a fee that is added (-or in some cases reduced), by the carrier in reflection of current prices for shipping fuel and/or oil.
B/L (Bill of Lading)
A bill of lading is both a receipt and a contract. It documents the goods that are being sent and the terms of the shipment.
Booking Space
CFF will organise the booking of space for warehouse facilities and air, ocean or inland transport.
Bonded Warehouse
A secure warehouse where cargo is stored until it has been released by customs.
Break Bulk
Cargo that is shipped but not containers. For example, in some cases, machinery.
CAF (Currency Adjustment Factor)
An additional fee charged on ocean freight to compensate for currency exchange fluctuations.
CABAF (Currency and Bunker adjustment factor)
CAF and BAF calculated in combination together.
CAN/PRA (Customs Authority Number/Pre Receival Advice)
CAN is a number provided by customs when goods are cleared for export.
PRA is electronic notification of a container, coming into a destination port.
Cargo Insurance
CFF is fully insured and can help you organise your insurance for the goods to be transported.
Cartage
Cartage is a term used for haulage of goods. (Usually via trucks.)
CO (Certificate of Origin)
A document used in international trade, stating the country of where the goods are made (normally issued by the Chamber of Commerce or Embassy).
CFR (Cost and Freight)
An incoterm where the seller includes the cost of freight within the price of the goods.
(Also known as C&F or freight pre-paid.)
CFS (Container Freight Station)
A place for packing and unpacking cargo from containers.
CIF (Cost, Insurance and Freight)
An Incoterm, where the seller pays for goods, transportation and marine insurance.
CMI (Comite Maritime International)
An international organization concerned with maritime law and commercial practices.
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