Freight, shipping and chartering glossary

A contract to optimize the flow of services provided by enterprises to consumers, rendered to each other by partners in the supply chain, as well as intra-company flows.

An authorized person (individual or firm) performing certain actions on behalf of another person (principal) on his behalf and in his interests.

An intermediary that facilitates the execution of retail transactions between interested parties (customers) on their behalf and at their expense.

Reserve stock, below which the level of stocks for this product should not fall.

A load of goods sent by sea, road, train, or air.

Unused material that has a market value and can be sold.

A specific location from where goods will depart for movement.

Defective material that has no market value and cannot be sold.

A firm that primarily matches up small shipments, especially single-traffic piggyback loads, to permit shippers to use twin-trailer piggyback rates.

Surcharge related to airport terminal screening.

A note from the exporter to the freight forwarder with instructions on how a shipment is being sent and where it is going.

Transport document used in shipping. The cargo is issued to a specific consignee specified in the sea waybill if he can document his identity, and at the same time, he doesn’t need to present his original copy of this waybill.

A document that breaks down the individual legs of a shipment and the surcharges each will incur, as per your freight quote.

The importer or their agent is required to electronically submit information relating to the shipment. This term is used in the USA.

Different levels of service that you will use to fulfill your orders.

A cost that a company can directly assign to a particular segment of the business.