The process of receiving a consignment from a
consignor, usually against the issue of a receipt.
As from this moment and on this place the carrier's
responsibility for the consignment begins.
Act of
God
Accidents of a nature beyond human control such as
flood, lightning or hurricane usually quoted as
'force majeure'.
Ad Valorem
In proportion to the value: A phrase applied to
certain freight or customs duties levied on goods,
property, etc. set as a percentage of their value.
Advice Note
A written piece of information e.g. about the status
of the goods.
Agency Fee
Fee payable by a ship owner or ship operator to a
port agent.
Agent
A person or organization authorized to act for or on
behalf of another person or organization
An Agent is a corporate body with, which there is an
agreement to perform particular functions on behalf
of them at an agreed payment. An Agent is either a
part of the organisation or an independent body.
Air Waybill
Abbreviation: AWB
A document made out by or on behalf of the
carrier(s) confirming receipt of the goods by the
carrier and evidencing the contract between the
shipper and the carrier(s) for the carriage of goods
as described therein.
Allotment
A
share of the capacity of a means of transport
assigned to a certain party, e.g. a carrier or an
agent, for the purpose of the booking of cargo for a
specific voyage.
American Bureau of Shipping
Abbreviation: ABS
American classification society which has
established rules and regulations for the
classification of seagoing vessels or equipment.
Arbitration
The
process of referring to an agreed person for
judgement on issues of dispute, without requiring
the use of courts.
Arrival Date
The
date on which goods or a means of transport is due
to arrive at the delivery site of the transport.
Arrival Notice
A notice sent by a carrier to a
nominated notify party advising of the arrival of a
certain shipment or consignment.
Assignment
The transfer of certain rights
from one party to another.
Authorised Consignee / Consignor
A trader
authorized by the European Commission (regulation
2454/93) to receive or dispatch consignments under
transit procedures without having to present goods
and documents directly at the customs office.
Authorization
The commission to a certain person or body to act
on behalf of another person or body. The person or
body can be authorized e.g. to issue Bills of Lading
or to collect freight.
Average
In marine
insurance: a loss or damage to or in respect of
goods or equipment
The numerical result obtained by dividing the sum of
two or more quantities by the number of quantities
Average Adjusters
In general average
affairs average adjusters are entrusted with the
task of apportioning the loss and expenditure over
the parties interested in the maritime venture and
to determine which expenses are to be regarded as
average or general average.
Rushabh Sealink - A Division of Pankaj Transport Pvt. Ltd.
