Terminology
L/C
Letter of Credit – Mode of payment.
B/L
Bill of Lading - a receipt that lists the merchandise and serves as the property title.
EXPRESS RELEASE
Issuance of a non-original Bill of Lading (B/L).
SURRENDER B/L
Issuance of original Bill of Lading (B/L) and validated as an express release (the copy serves as the original).
SEAWAYBILL
Issuance of a non-original Bill of Lading (B/L).
SHIPPER
The exporter or shipper.
CONSIGNEE
El importador o receptor de la mercancía.
NOTIFY
To whom the arrival shall be reported.
ETD
Date of expected departure.
ETA
Date of expected arrival.
TT TRANSIT TIME
Time in transit.
THC
Terminal handling charge – cost of handling at the origin or destination port.
GRI
General rate increase - General increase of fleets
CAF
Current adjustment factor.
BAF
Bunker adjustment factor - adjustment due to modifications of the crude price.
PSS
Peak season surcharge - surcharge for high season due to the lack of space on the boats
SC, CANAL DE SUEZ
Surcharge for boat passage through the Suez Canal.
ISPS
International Ship and Port Facility Security – security surcharge.
RECARGO IMO
Surcharge for dangerous merchandise
OWS
Over-weight surcharge - surcharge for transporting heavy containers, generally applied at 20'.
LCL
Less container load - partial load of a container (groupage).
FCL
Full container load.
FEEDER
A boat that moves merchandise to the main port and connects it to the ocean liner.
REEFER
A container adapted to transporting refrigerated and/or frozen merchandise.