Freight forwarders usually ship under their own bills of lading or air waybills (called house bill of lading or house air waybill) and their agents or associates at the destination (overseas freight forwarders) provide document delivery, deconsolidation, and freight collection services. (b) Freight is also used to denote goods which are in the process of being transported from one place to another. They also issue bills of lading and accept responsibility for goods. (On a vessel for instance 6 gangs can be ordered to discharge or load.). GDSM - Abbreviation for "General Department Store Merchandise." The above details describes about terms called in freight forwarding such as freight forwarder,freight release,freight prepaid, freight,fuel-surcharge,foreign trade zone,fumigation,general rate increase,gateway city etc These phrases may help importers and exporters on their day to day business activities. General Agreement on Tariffs and Trade: GATT Major international agreement on trade and tariffs between many nations all over the world. FAK (Freight All Kinds) Shipping industry term for a carrier's tariff classification for all kinds of goods that are pooled and shipped together at one freight rate. This is a document that acts as a contract between a shipper and carrier. FREIGHT STATUS ANSWER (FSA): A standard CargoIMP message identifier used to reply to a Status Request (FSR) indicating latest status, or statuses, in the movement of the nominated shipment. Out of gauge cargo requires special permits, and special chassis equipment. It is a process required by many importing countries for the importation of wood and related products. Freight Payable at Destination:When the ocean freight of a shipment is paid at the time of delivery at the foreign port. Full Truck Load (FTL): A term which defines a shipment which occupies at least one complete truck trailer, or allows for no other shippers goods to be carried at the same time. Sidoman is an experienced carrier in the industry that can help you transport your goods and shipments safely. Therefore, learning some of the most commonly used terms in freight and forwarding is critical. FTL: See EUV Fulfillment Agent: May be designated as an agent to plan, schedule, or control the process of executing the logistics chain. Out of gauge cargo requires special permits, and special chassis equipment. 1000kg = 1 m3)to which the freight rate is applied and from which the freight amount is calculated. Another purpose is to promote trade through tariff concessions. (b) Freight is also used to denote goods which are in the process of being transported from one place to another. A broker basically arranges transportation by road, rail or ocean on behalf of a shipper, consignee or freight forwarder. FREIGHT PAYABLE AT DESTINATION :Method of paying the freight often used for shipment of bulk cargoes whose weight is established on discharge from the ship. Often times, bulk freight comes in the form of liquid or a granular form such as sand or crude oil. GDSM - Abbreviation for "General Department Store Merchandise." CargoMaster is an Australian based international freight forwarding company.With over 30 YEARS EXPERIENCE in national and international freight forwarding, you can be sure that our team has the knowledge, skills and technology to meet all your shipping needs. Forwarders contract with a carrier or often multiple carriers to move the goods.. A forwarder does not move the goods but acts as an expert in the logistics network. BLANKET WRAPPED FREIGHT Blanket Wrapped Freight involves wrapping thick blankets around goods to cover and cushion them during shipment. It refers to shipments that are larger than a parcel or small package. FREIGHT STATUS UPDATE (FSU): Standard CargoIMP message identifier used to notify/update interested parties with a (change of) status of a shipment as recorded in the system of the handling party. A freight broker is an individual that acts as a go-between between the customer and the carrier or shipper. This site uses Akismet to reduce spam. // , The information provided here is part of Export Import Training course online. // ]]> “In gauge” is commonly used when describing the nature of cargo that is non- containerized, not over sized, denoting that no special provisions are needed for over the road transportation. [CDATA[ The readers can also add more information about terms used in freight forwarding trade below this post. The discussions are now held by the WTO. FUEL SURCHARGE: A surcharge imposed to help offset increased fuel costs – applied as a percentage to freight charges. This commodity structure occurs only in service contracts, and is often no longer accepted as a valid description of cargo. 5th Floor, Office Number 506, opposite Myspace. FRT: Freight. Export Declaration. FSC: Fuel Sur Charge. A freight forwarding firm is also referred to as a non-vessel operating common carrier or NVOCC. Furthermore, when you learn what the most frequently used trading terms are, you can use them for later reference if you need to establish who is in charge of arranging and paying for what in the shipping process. Fulfillment includes order management, picking, packaging, and shipping. Gateway City:Key cities of entry/departure for international shipments, strategically located for the most efficient movement of goods. Gap analysis: The process of determining and documenting the variance (gap) between goals and current performance. 3. 1000kg = 1 m3)to which the freight rate is applied and from which the freight amount is calculated. 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