Trade reference

Import-export glossary.

Plain-language definitions for the terms that appear in freight quotes, customs files, shipping documents, and route conversations.

Airway Bill (AWB)

The transport document used for air cargo. It records shipment and carriage details but is generally not a document of title.

Bill of Entry

The import declaration used in India for customs assessment and clearance.

Bill of Lading (B/L)

A carrier transport document for sea freight that can evidence receipt, the contract of carriage, and in some forms title to goods.

Bonded warehouse

A customs-controlled facility where goods may be stored under bond before duty payment or authorised disposal.

CBM

Cubic metre, a volume measure commonly used to rate and plan cargo.

Certificate of Origin

A document stating the country of origin of goods, sometimes used for customs, buyer, or trade-agreement purposes.

CFS

Container Freight Station, a facility used for activities such as consolidation, deconsolidation, customs handling, and container-related cargo operations.

CHA / Customs Broker

An authorised customs intermediary that supports declaration and clearance processes. Current Indian terminology commonly uses customs broker.

Chargeable weight

The weight used to calculate freight, often the higher of actual weight and a mode-specific volumetric weight.

Commercial invoice

The seller’s transaction document showing parties, goods, quantity, value, currency, and agreed commercial terms.

Consignee

The party named to receive a shipment under the transport document.

Customs valuation

The process of determining the value used to assess customs duty and taxes under applicable rules.

DDP

Delivered Duty Paid, an Incoterms 2020 rule placing extensive delivery and import responsibilities on the seller.

Demurrage

A charge commonly associated with container or cargo remaining at a terminal beyond allowed free time; exact usage varies by provider and location.

Detention

A charge commonly associated with carrier equipment kept outside the terminal beyond allowed free time; exact terms vary.

EORI

An Economic Operators Registration and Identification number used for customs interactions in the EU and, under separate arrangements, the UK.

FCA

Free Carrier, an Incoterms 2020 rule where delivery occurs to the buyer’s nominated carrier at the named place.

FCL

Full Container Load, where a shipper uses a container as a dedicated transport unit, regardless of whether it is physically full.

FOB

Free On Board, a sea or inland-waterway Incoterms 2020 rule where risk transfers when goods are on board the vessel at the named port of shipment.

Freight forwarder

A logistics intermediary that arranges transport and related shipment services across one or more carriers and modes.

HS code

A Harmonized System classification code used as the basis for tariff and trade-statistics classification, extended differently by countries.

ICD

Inland Container Depot, an inland facility supporting container handling and customs processes away from a seaport.

IEC

Importer Exporter Code, an Indian trade identification issued by the Directorate General of Foreign Trade, subject to applicable rules.

Incoterms

ICC rules defining specified delivery, cost, and risk responsibilities between seller and buyer.

Landed cost

The total cost of acquiring and bringing goods to a destination, potentially including product, freight, insurance, duty, taxes, handling, and delivery.

LCL

Less than Container Load, where multiple shipments share container space through consolidation.

Letter of Credit

A bank undertaking subject to stated terms and compliant document presentation.

Packing list

A document describing how goods are packed, including packages, contents, quantities, dimensions, and weights as applicable.

Phytosanitary certificate

An official plant-health certificate used for regulated plants and plant products where required.

Shipping Bill

The export declaration used in India for customs processing of export goods.

TEU

Twenty-foot equivalent unit, a standard measure of container capacity.

Transshipment

Movement through an intermediate hub where cargo transfers between conveyances before the final destination.

VGM

Verified Gross Mass, the verified weight of a packed container required under applicable SOLAS rules before vessel loading.

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