Shipping Terms

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Accessorial Charges are additional charges applied to the base tariff rate as bunkers, currency exchange, demurrage, detentions etc.

Acquiescence is accepting the Bill of Lading without protest by a shipper or shipper’s agent, the shipper is giving his consent.

Acquittance is a written receipt discharging from all claims.

Ad Valorem Latin term meaning “according to value.”, import duty of the cargo will be certain percentage of the goods value.

Advising Bank is a bank that handles letter of credit on behalf of foreign bank

Affreightment is contract between carrier and importer or exporter for specific commodity, price, and shipping time.

Agent is a person or company acting as broker and earning commission for his service.

Aggregate Shipment is numerous shipments consolidated and assign to one consignee and considered as one shipment.

Air Waybill is receipt for the freight issued from the forwarding agent or the carrier and stating the terms and the parties in the shipment.

All In is term showing the total transportation price from origin to destination.

AMS “Automated Manifest System.” The U.S. Customs’

Appraisement is dutiable value of imported goods determined by the US customs.

Arrival Notice is carrier notification of the consignee or notify party for ship arrival. The notify parties are listed in the Bill of Lading.