| F.D.A. |
|
| Food
and Drug Administration. |
|
| F.P.A. |
|
| See
"Free of Particular Average." |
|
| Factor |
|
| A
factor is an agent who will, at a discount (usually five to
8% of the gross), buy receivables. |
|
| FAK |
|
| Abbreviation
for "Freight All Kinds." Usually refers to full
container loads of mixed shipments. |
|
| False
Billing |
|
| Misrepresenting
freight or weight on shipping documents. |
|
| FAS |
|
| Abbreviation
for "Free Alongside Ship." |
|
| FCL |
|
| Abbreviation
for "Full Container Load." |
|
| FD |
|
| Abbreviation
for "Free Discharge." |
|
| Feeder
Service |
|
| Cargo
to/from regional ports are transferred to/from a central hub
port for a long-haul ocean voyage. |
|
| Feeder
Vessel |
|
| A
short-sea vessel which transfers cargo between a central
"hub" port and smaller "spoke" ports. |
|
| FEU |
|
| Abbreviation
for "Forty-Foot Equivalent Units." Refers to
container size standard of forty feet. Two twenty-foot
containers or TEU's equal one FEU. |
|
| Fifth
Wheel |
|
| The
semi-circular steel coupling device mounted on a tractor
which engages and locks with a chassis semi-trailer. |
|
| FIO |
|
| See
Free In and Out. |
|
| Firkin |
|
| A
capacity measurement equal to one-fourth of a barrel. |
|
| Fixed
Costs |
|
| Costs
that do not vary with the level of activity. Some fixed
costs continue even if no cargo is carried. Terminal leases,
rent and property taxes are fixed costs. |
|
| Flat
Car |
|
| A
rail car without a roof and walls. |
|
| Flat
Rack/Flat Bed Container |
|
| A
container with no sides and frame members at the front and
rear. Container can be loaded from the sides and top. |
|
| FMC
(F.M.C.) |
|
| Federal
Maritime Commission. The U.S. Governmental regulatory body
responsible for administering maritime affairs including the
tariff system, Freight Forwarder Licensing, enforcing the
conditions of the Shipping Act and approving conference or
other carrier agreements. |
|
| FOB |
|
| See
Free On Board. See also Terms of Sale, FOB. |
|
| FOB
Freight Allowed |
|
| the
same as FOB named inland carrier, except the buyer pays the
transportation charge and the seller reduces the invoice by
A like amount. |
|
| FOB
Freight Prepaid |
|
| the
same as FOB named inland carrier, except the seller pays the
Freight charges of the inland carrier. |
|
| FOB
named point of Exportation |
|
| seller
is responsible FOR the cost of placing the goods at A named
point of exportation. Some European buyers use This Form
when they actually mean FOB vessel. |
|
| FOB
vessel |
|
| seller
is responsible FOR goods and preparation of export
documentation until actually placed aboard the vessel. |
|
| FOR |
|
| Abbreviation
for "Free on Rail." |
|
| Force
Majeure |
|
| The
title of a common clause in contracts, exempting the parties
for non-fulfillment of their obligations as a result of
conditions beyond their control, such as earthquakes, floods
or war. |
|
| Fore
and Aft |
|
| The
direction on a vessel parallel to the center line. |
|
| Foreign
Sales Corporation |
|
| Under
U.S. tax law, a corporation created to obtain tax exemption
on part of the earnings of U.S. products in foreign markets.
Must be set-up as a foreign corporation with an office
outside the USA. |
|
| Foreign
Trade Zone |
|
| A
free port in a country divorced from Customs authority but
under government control. Merchandise, except that which is
prohibited, may be stored in the zone without being subject
to import duty regulations. |
|
| Fork
Lift |
|
| A
machine used to pick up and move goods loaded on pallets or
skids. |
|
| Forwarder
Compensation |
|
| See
Brokerage. |
|
| Foul
Bill of Lading |
|
| A
receipt for goods issued by a carrier with an indication
that the goods were damaged when received. Compare Clean
Bill of Lading. |
|
| Four-Way
Pallet |
|
| A
pallet designed so that the forks of a fork lift truck can
be inserted from all four sides. See Fork lift. |
|
| Free
Alongside (FAS) |
|
| The
seller must deliver the goods to a pier and place them
within reach of the ship's loading equipment. See Terms of
Sale. |
|
| Free
Astray |
|
| An
astray shipment (a lost shipment that is found) sent to its
proper destination without additional charge. |
|
| Free
In and Out (FIO) |
|
| Cost
of loading and unloading a vessel is borne by the charterer/shipper. |
|
| Free
of Particular Average (FPA) |
|
| A
marine insurance term meaning that the assurer will not
allow payment for partial loss or damage to cargo shipments
except in certain circumstances, such as stranding, sinking,
collision or fire. |
|
| Free
on Board (FOB - U.S. Domestic Use) |
|
| Shipped
under a rate that includes costs of delivery to and the
loading onto a carrier at a specified point. |
|
| Free
on Board (Int'l Use) |
|
| See
Terms of Sale. |
|
| Free
Out (FO) |
|
| Cost
of unloading a vessel is borne by the charterer. |
|
| Free
Port |
|
| A
restricted area at a seaport for the handling of
duty-exempted import goods. Also called a Foreign Trade
Zone. |
|
| Free
Sale Certificate |
|
| The
U.S. government does not issue certificates of free sale.
However, the Food and Drug Administration, Silver Spring,
Maryland, will issue, upon request, a letter of comment to
the U.S. manufacturers whose products are subject to the
Federal Food, Drug and Cosmetic Act or other acts
administered by the agency. The letter can take the place of
the certificate. |
|
| Free
Time |
|
| That
amount of time that a carrier's equipment may be used
without incurring additional charges. (See Storage,
Demurrage or Per Diem.) |
|
| Free
Trade Zone |
|
| A
port designated by the government of a country for duty-free
entry of any non-prohibited goods. Merchandise may be
stored, displayed, used for manufacturing, etc., within the
zone and re-exported without duties. |
|
| Freight |
|
| Refers
to either the cargo carried or the charges assessed for
carriage of the cargo. |
|
| Freight
Bill |
|
| A
document issued by the carrier based on the bill of lading
and other information; used to account for a shipment
operationally, statistically, and financially. An Invoice. |
|
| Freight
Forwarder |
|
| A
person whose business is to act as an agent on behalf of the
shipper. A freight forwarder frequently makes the booking
reservation. |
|
| Freighters |
|
| See
Ships. |
|
