A
Air Waybill (AWB)
An air waybill (AWB) is a non-negotiable, legally binding document issued by an air carrier or freight forwarder to acknowledge receipt of a shipment and serve as a contract to transport goods.
Anti-Dumping Duties
Anti-dumping duties are extra taxes imposed by the U.S. CBP on imported goods that are sold below their “fair market value” (dumping).
Automated Export System (AES)
The Automated Export System (AES) is the automated system for filing U.S. Shipper’s Export Declarations.
B
BAF (Bunker Adjustment Factor)
The Bunker Adjustment Factor (BAF) is a surcharge in ocean freight shipping that adjusts for fluctuations in the cost of bunker fuel—the fuel used to power vessels.
Bill of Lading (BOL)
A bill of lading is a shipping document that outlines the journey of your shipment from origin to destination.
Blank Sailing
A blank sailing is a sailing that the container line has canceled when demand for space is low or because of industry altering events.
Bobtail Fee
A bobtail fee is a cost incurred when the trucker drops off a container at your warehouse and then returns to pick it up after it has been unloaded.
Bonded Goods
Bonded cargo refers to goods for which U.S. customs duties and taxes have not yet been paid. These goods are stored under customs supervision, often in a bonded warehouse, or transported by a licensed bonded carrier to a different facility within the country or to a final destination in another country.
C
Cargo Insurance
Cargo insurance is a type of insurance coverage that a cargo owner purchases to protect against loss or damage to goods being transported by land, air, or sea.
CFR Incoterm
The CFR Incoterm (Cost and Freight) means the seller pays the cost of transporting goods to the named port of destination.
CFS (Container Freight Station)
A container freight station is a warehouse that specializes in the consolidation and deconsolidation of cargo.
Chassis
A chassis is a piece of wheeled trucking equipment used to move ocean containers.
Chassis Split
A chassis split fee is charged if the trucker has to make an additional trip to pick up a chassis, from a separate location.
CIF Incoterm
Under the CIF Incoterm, the seller covers all costs to deliver the goods to the buyer’s destination, including insurance.
D
E
F
G
H
I
Importer of Record (IOR)
The Importer of Record (IOR) is the party legally responsible for ensuring that goods entering a country comply with all import laws and regulations.
J
K
L
M
N
O
P
Q
R
S
T
Test Glossary 1
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U
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X
Y
Z