Free on Board (FOB) – Total price includes transportation to the local port; buyer pays shipping from there to the port of discharge.
Cost Insurance Freight (CIF) – Total price includes transportation to the port of discharge plus insurance costs.
Cost and Freight (C&F, CNF, CFR) – Total price includes transportation to the port of discharge without insurance.
2. Transportation & Cargo
Freight – Cargo transportation itself or the charge for it.
Aboard – Cargo is successfully loaded onto the ship.
Chassis – Body of a vehicle including engine and wheels.
Cargo – Goods transported by ship, plane, or vehicle.
Cargo Manifest – Document listing transportation details and all bills of lading.
Vanning – Process of loading cargo into a container for shipping.
Freight – Cargo transportation itself or the charge for it.
Aboard – Cargo is successfully loaded onto the ship.
Chassis – Body of a vehicle including engine and wheels.
Cargo – Goods transported by ship, plane, or vehicle.
Cargo Manifest – Document listing transportation details and all bills of lading.
Vanning – Process of loading cargo into a container for shipping.
Commercial Invoice – Customs document identifying true value for duty calculation.
Bill of Lading (B/L) – Agreement between shipper and carrier.
Bill of Lading Status (B/L Status):
Surrendered – Released (buyer can collect goods).
Not Surrendered – Not released (buyer cannot collect goods).
Amended Bill of Lading – Conditions can be changed without extra costs.
Air Waybill (AWB) – Document sent with packages transported by airplane.
Manifest – Transport document showing summary of bills of lading for a vessel.
Letter of Credit (L/C) – Authorization for a foreign bank to collect payment.
Irrevocable Letter of Credit – Importer’s bank guarantees payment to exporter on demand.
Advising Bank – Bank in exporter’s country that verifies the authenticity of a letter of credit.
Issuing Bank – Importer’s bank that issues the letter of credit in favor of exporter’s bank.
Correspondent Bank – Bank that provides services on behalf of a foreign bank.
Bank Guarantee – Bank promises to pay debts if the debtor defaults.
Remittance – Money sent as a payment to another party.
Beneficiary – Person or entity receiving money or benefits.
Agency Tariff – Service costs charged by an agency.
Freight Forwarder – Company specializing in shipping and receiving goods.
Broker – Person/company handling buy or sell orders for commission.
Brokerage – Broker’s fee or commission.
Inland Carrier – Domestic transport between ports and inland locations.
Supply Chain – System of moving goods from origin to end customer.
Consignee – Person or company receiving the shipment.
Bonded Warehouse – Storage for goods until duty is paid.
Foreign Trade Zone – Duty-free area (often at ports/airports) where goods can be stored or purchased.
Yard – Designated storage area for goods.
Bureau Veritas – Organization that inspects and rates vessels globally.
Certificate of Inspection – Confirms goods were in good condition upon leaving the port.
Certificate of Origin – Shows where goods were produced.
Import Licence – Government authorization to import specific goods.
