Acceptance of Goods = The process of receiving a consignment from a consignor, usually against the issue of a receipt. As from this moment and on this place the carrier's responsibility for the consignment begins.

Agency Fee = Fee payable by a ship owner or ship operator to a port agent.

B/L = Bill of Lading; A document which evidences a contract of carriage by sea.

Break Bulk Cargo = General cargo conventionally stowed as opposed to unitized, containerized and Roll On-Roll Off cargo.

Broker = Person who acts as an agent or intermediary in negotiating contracts.

BAF = Bunker Adjustment Factor = Adjustment applied by liner conferences to offset the effect of fluctuations in the cost of bunkers.

CAD = Cash Against Documents
 
CAF = Currency Adjustment Factor = Adjustment applied by lines or liner conferences on freight rates to offset losses or gains for carriers resulting from fluctuations in exchange rates of tariff currencies.

Cargo = Goods transported or to be transported, all goods carried on a ship covered by a B/L.
Any goods, wares, merchandise, and articles of every kind whatsoever carried on a ship, other than mail, ship's stores, ship's spare parts, ship's equipment, stowage material, crew's effects and passengers' accompanied baggage (IMO). Any property carried on an aircraft, other than mail, stores and accompanied or mishandled baggage Also referred to as 'goods' (ICAO). 

Carriage = The process of transporting (conveying) cargo, from one point to another.

Carrier = The party undertaking transport of goods from one point to another.
 
Carrier Haulage = The inland transport service, which is performed by the sea-carrier under the terms and conditions of the tariff and of the relevant transport document.

Carriers' Lien = When the shipper ships goods 'collect', the carrier has a possessory claim on these goods, which means that the carrier can retain possession of the goods as security for the charges due.

Certificate of Classification = A certificate, issued by the classification society and stating the class under which a vessel is registered. 
 
Certificate of Delivery = A certificate, indicating the condition of a vessel upon delivery for a charter including ballast, available bunkers and fresh water.

Chassis = A wheeled carriage onto which an ocean container is mounted for inland conveyance. The part of a motor vehicle that includes the engine, the frame, suspension system, wheels, steering mechanism etc., but not the body.
 
Classification = Arrangement according to a systematic division of a number of objects into groups, based on some likeness or some common traits.
 
Classification Society = An organization, whose main function is to carry out surveys of vessels, its purpose being to set and maintain standards of construction and upkeep for vessels, their engines and their safety equipment. A classification society also inspects and approves the construction of containers.
 
Clean Bill of Lading = A Bill of Lading which does not contain any qualification about the apparent order and condition of the goods to be transported (it bears no stamped clauses on the front of the B/L). It bears no superimposed clauses expressly declaring a defective condition of the goods or packaging (resolution of the ICS 1951).
 
Clean on Board = When goods are loaded on board and the document issued in respect to these goods is clean. 

Combined Transport = Intermodal transport where the major part of the journey is by one mode such as rail, inland waterway or sea and any initial and/or final leg carried out by another mode such as road.

Congestion = Accumulation of vessels at a port to the extent that vessels arriving to load or discharge are obliged to wait for a vacant berth.

Consignee = The party such as mentioned in the transport document by whom the goods, cargo or containers are to be received.

Consignor = Shipper = The merchant (person) by whom, in whose name or on whose behalf a contract of carriage of goods has been concluded with a carrier or any party by whom, in whose name or on whose behalf the goods are actually delivered to the carrier in relation to the contract of carriage.

CY = Container Yard = A facility at which FCL traffic and empty containers are received from or delivered to the Merchant by or on behalf of the Carrier.
Note: Often this yard is used to receive goods on behalf of the merchant and pack these in containers for FCL traffic.

Dangerous Goods = Goods are to be considered dangerous if the transport of such goods might cause harm, risk, peril, or other evil to people, environment, equipment or any property whatsoever.
 
Dangerous Goods Declaration = Document issued by a consignor in accordance with applicable conventions or regulations, describing hazardous goods or materials for transport purposes, and stating that the latter have been packed and labelled in accordance with the provisions of the relevant conventions or regulations.

Demurrage = A variable fee charged to carriers and/or customers for the use of Unit Load Devices (ULD's) owned by a carrier beyond the free time of shipment. Additional charge imposed for exceeding the free time, which is included in the rate and allowed for the use of certain equipment at the terminal. 

Detention Charge = Charges levied on usage of equipment exceeding free time period as stipulated in the pertinent inland rules and conditions.

Endorsement = The transfer of the right to obtain delivery of the goods of the carrier by means of the consignee's signature on the reverse side of a bill of lading. If the name of the new consignee (transferee) is not stated, the endorsement is an open one which means that every holder of the document is entitled to obtain delivery of the goods.

FIFO = First In First Out = The method whereby the goods which have been longest in stock (first in) are used, delivered (sold) and/or consumed first (first out).

FILO = Free In Liner Out = Transport condition denoting that the freight rate is inclusive of the sea carriage and the cost of discharging, the latter as per the custom of the port. It excludes the cost of loading and, if appropriate, stowage and lashing.
 
FIO = Free In and Out = Transport condition denoting that the freight rate excludes the costs of loading and discharging and, if appropriate, stowage and lashing.

FCL = Full Container Load = A container stuffed or stripped under risk and for account of the shipper and/or the consignee. A general reference for identifying container loads of cargo loaded and/or discharged at merchants' premises. 

Gen-set = Motor generator set as power source for, e.g., thermal containers.

General Cargo = Cargo, consisting of goods, unpacked or packed, for example in cartons, crates, bags or bales, often palletized. General cargo can be shipped either in breakbulk or containerized.
Any consignment other than a consignment containing valuable cargo and charged for transport at general cargo rates (air cargo). 

Haulage = The inland carriage of cargo or containers between named locations/points.
Merchant inspired Carrier Haulage or customer nominated Carrier Haulage or shipper preferred Carrier Haulage service performed by a sub-contractor of the merchant.
Carrier inspired Merchant Haulage means Haulage service performed by a sub- contractor of the Carrier 

Husbanding = Taking care of a vessel's non cargo related operations as instructed by the master or owner of such vessel.

Intermodal Transport = The movement of goods (containers) in one and the same loading unit or vehicle which uses successively several modes of transport without handling of the goods themselves in changing modes.

LIFO = Liner In Free Out = Transport condition denoting that the freight rate is inclusive of the sea carriage and the cost of loading, the latter as per the custom of the port. It excludes the cost of discharging.

LCL = Less than Container Load = A general reference for identifying cargo in any quantity intended for carriage in a container, where the Carrier is responsible for packing and/or unpacking the container. For operational purposes a LCL (Less than full container load) container is considered a container in which multiple consignments or parts thereof are shipped. 

L/C = Letter of Credit = A written undertaking by a bank (issuing bank) given to the seller (beneficiary) at the request, and on the instructions of the buyer (applicant) to pay at sight or at a determinable future date up to a stated sum of money, within a prescribed time limit and against stipulated documents.

LOLO = Lift-On Lift-Off Vessel = Vessel of which the loading and discharging operations are carried out by cranes and derricks.

Lump-sum = An agreed sum of money, which is paid in full settlement at one time. This term is often used in connection with charter parties.
 
Lump-sum Charter = A voyage charter whereby the ship owner agrees to place the whole or a part of the vessel's capacity at the charterer's disposal for which a lump-sum freight is being paid.

Merchant = For cargo carried under the terms and conditions of the Carrier's Bill of Lading and of a tariff, it means any trader or persons (e.g. Shipper, Consignee) and including anyone acting on their behalf, owning or entitled to possession of the goods.

Out of Gauge Cargo = Cargo which dimensions are exceeding the normal dimensions of a 20 or 40 feet container, e.g. overlength, overwidth, overheight, or combinations thereof.

Precarriage = The carriage of goods (containers) by any mode of transport from the place of receipt to the port (place) of loading into the ocean vessel (main means of transport).

Pro Forma Invoice = Draft invoice sent to an importer by the exporter prior to order confirmation and shipment to assist in matters relating to obtaining import licenses or foreign exchange allocations, or simply to advise the value of a consignment so that letters of credit can be opened.

STC = Said to Contain = Term in a Bill of Lading signifying that the master and the carrier are unaware of the nature or quantity of the contents of e.g. a carton, crate, container or bundle and are relying on the description furnished by the shipper.

Transshipment = A shipment under one Bill of Lading, whereby sea (ocean) transport is 'broken' into two or more parts. The port where the sea (ocean) transport is 'broken' is the transshipment port.
Transfer of cargo from one means of transport to another for on-carriage during the course of one transport operation.

Voyage Charter = A contract under which the ship owner agrees to carry an agreed quantity of cargo from a specified port or ports to another port or ports for a remuneration called freight, which is calculated according to the quantity of cargo loaded, or sometimes at a lump-sum freight.

War Risk = Perils of war or warlike operations, such as capture, seizure, arrests, restraints of kings, princesses and people, hostilities, civil war, mines, torpedo's. War risks are not covered under a policy for marine perils and must therefore be covered under a separate policy for war risks.

Wharfage = The fee charged for the use of a wharf for mooring, loading or discharging a vessel or for storing goods.