TRANSPORT GLOSSARY

  • BAE: (French: “bon à enlever” or “release document”) the BAE is a document issued by the customs authorities, which permits the importer to access their goods.
  • BAF: Bunker Adjustment Factor: maritime transport tariff surcharge, in the event of a rise in fuel prices.
  • CAD: Cash against Document: transit documents are lodged with a bank, with an instruction for the delivery thereof to the importer only upon payment.
  • CAF: Currency Adjustment Factor: maritime transport tariff surcharge, in the event that exchange rate movements have been unfavourable to the carrier since the establishment of the tariff scale.
  • Clean: English term indicating that the transport document is free of reservations.
  • Clean on board: term indicating that goods have been embarked without reservations.
  • CMR: road haulage agreement, corresponding to a title of transport and a goods consignment note.
  • Congestion: obstruction or traffic jam at the entry to a port.
  • Bill of Lading: (or B/L) maritime transport document, simultaneously a negotiable deed of ownership and a goods consignment note.
  • Documentary credit: an international payment technique, involving payment by the bank of the purchaser (or by their own bank, if confirmed) rather than by the client. This thus provides an excellent guarantee, at the expenses of a degree of administrative complexity. For more information, visit the website: http://www.credoc.info
  • CTR: abbreviation for “container”.
  • ETA: Expected time of arrival.
  • ETD: Estimated time of departure.
  • FCL: Full Container Load.
  • FCL/FCL: Full container at the place of departure and the place of arrival, i.e. one dispatcher and one recipient.
  • FCL/LCL: Full container at the place of departure, for delivery to a number of recipients upon arrival; deconsolidation is required at the place of destination, i.e. one dispatcher and a number of recipients.
  • Consolidation: technique involving the combination of goods from a number of dispatchers, in order to execute a primary transport operation in a single load unit (generally a maritime container).
  • IATA: International Air Transport Association.
  • IFP: Interim Fuel Participation, a surcharge equivalent to the BAF, in the event of a rise in fuel prices
  • Incoterms: terms defining international conditions of sale. These contractual terms are standardized by the International Chamber of Trade, and permit the definition of the obligations of the vendor and the purchaser in the transport chain.
  • ISPS: rules have been imposed upon carriers and terminals for the enhancement of security in vessels and ports, in the face of international terrorism. These rules have generated additional costs (for risk assessment, the deployment of additional security measures, associated administrative and operational expenditure, and ISPS certification).
  • LCL: Less than a Container Load, or consolidation/deconsolidation.
  • LCL/FCL: container loaded with batches of goods from different suppliers, but for the same recipient.
  • LCL/LCL: container loaded with batches of good from different suppliers, for different recipients.
  • Standby letter of credit: guarantee of payment constituted for a specific sum, should the debtor fail to execute their obligations of settlement.
  • Airway Bill (AWB): air transport contract established in triplicate by the shipper.
  • Liner-terms: standardized terms defining the element of loading/unloading operations included in a maritime freight operation.
  • NVOCC: Non Vessel Operating Common Carrier: maritime transport agent operating in the same way as a ship-owner, but who has no vessel of their own (they lease spaces on vessels belonging to actual ship-owners).
  • Pallet: platform which permits the easier handling of goods. Standardized dimensions are as follows: 100 mm x 1200 mm (ISO) and 800 mm x 1200 mm (CEN).
  • Panamax: vessel of a size which can be accommodated by the Panama Canal: maximum length 295 m, maximum overall width 32.25 m, maximum draught 13.50 m.
  • Reservations: term designating the discrepancies observed between documents presented to the bank and the documentary instructions contained in CREDOC (documentary credit).
  • Ro/Ro (Roll-on/roll-off): combined transport technique allowing a road vehicle to board a vessel which is specially designed for this type of freight.
  • Demurrage: additional time permitted by the ship-owner for loading or unloading, in the event of an overrun of laytime. This additional time will give rise to the settlement of compensation.
  • THC: charge included in quotations, and corresponding to handling services provided during loading and unloading operations in port and airport terminals.
  • UP: unit of payment; maritime freight tariff unit – 1 tonne or 1 m3, in favour of the vessel concerned.
  • WAR RISK: surcharge for the risk of war.