A small misunderstanding with the shipping terms could lead to disputes over who was meant to pay for the overseas freight, insurance or other costs involved in the shipment of goods. ABS' core service is the provision of classification services through the development of standards called ABS Rules. An application that expedites the clearance of cargo for the subsequent release of containers when imported to U.S.A. through electronic submission of cargo manifests in lieu of bulk … For more information see 'sea anchor'. Determination of the dutiable value of imported merchandise by a Customs official who follows procedures outlined in their country's tariff, such as the U.S. Search. Rate it: (0.00 / 0 votes). A company that controls, or is controlled by another company, or is one of two or more commonly controlled companies. Mainly used for coastal or river movements. BAF: Bunker Adjustment Factor : A kind of fuel surcharge added to the freigt rates. Search Terms. vessels). Governmental » Transportation. The procedure whereby, in common law jurisdictions, a ship (and sometimes cargo and/or freight) may be seized by an admiralty court at the institution of or during an action 'in rem' - against a thing rather than a person - (infra) to provide pre-judgment security for the plaintiff's maritime claim. This is also known as USAID, an American Federal Agency primarily responsible for administering civilian foreign aid. We're doing our best to make sure our content is useful, accurate and safe.If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly. We know 83 definitions for OFT abbreviation or acronym in 6 categories. A charge paid by a carrier to an agent or to another carrier, which the delivering carrier then collects from the consignee. Information such as unique identification, position, course, and speed can be displayed on a screen or an ECDIS. This is a Latin term meaning 'according to value.' Le réseau ferroviaire sera développé grâce à plusieurs programmes. Here is our how-to guide to the most common trading terms in shipping. Load made on the security of the documents covering the shipment. A portable flight of steps down a ship's side. Find definitions for key international shipping and customs terms in this handy glossary. Export sales volume is often in excess of 15 percent of total sales. Please enter your email address below and we will send you an email containing a link which will allow you to edit your preferences. It is a body of both domestic law governing maritime activities, and private international law governing the relationships between private entities which operate vessels on the oceans. Cargo Shipping FAF abbreviation meaning defined here. Please look for them carefully. Note: (Bankers use the term letter of advice when notifying interested parties of such actions as the opening of credits, the drawing of drafts and the payment or non-payment of drafts.). ; What does OFT mean? An instrument employed for ascertaining the position of the sun with respect to magnetic north. At right angles to the fore and aft or centerline of a ship; A direction across the width of a vessel. Rate it: OFT: Ohio Federation of Teachers. A measure of weight or mass equal to 0.4535924277 kilograms. This can be either a true bearing, using the geographical or true North, or magnetic bearing, using magnetic North. Cargo remains with a single, dedicated trailer over the course of the shipment and is not handled en route. The U.S. Customs' master computer system to replace the Automated Commercial System. A team of men who handle ground tackle when the ship is anchoring or getting underway. A chartering term referring to when a vessel will work. This is the U.S. Customs' computer system which brokers use to file importers' entries electronically. Drawee's act in receiving a draft and thus entering into the obligation to pay its value at maturity. or "LOSER!" A one-off charter operated at the necessity of an airline or charterer. Glossary Of International Shipping Terms A8A Manifest A form issued by a licensed Custom’s Broker which allows CCRA to monitor in bond shipments as they move through Canada. Also 'yarr'. but not against innate flaws in the goods, such as decay, germination, nor against faulty packaging, improper packing/ loading or loss of market, nor against war, strikes, riots and civil commotions. Here’s our Guide… Shipping Jargon – Less Common Terms. Types of agents are: brokers, commission merchants, resident buyers, sales agents or manufacturer's representatives. edc.ca. Categories. Hence an average adjuster is a person who assesses an insurable loss. This is the U.S. Customs' computer system which brokers use to file importers' entries electronically. 2 ALASKA MARINE LINES 5615 W. Marginal Way S.W. Numerous shipments from different shippers to one consignee that are consolidated and treated as a single consignment. The shipping company or a third-party logistics company provides these documents. Abbreviations.com. This is the container services business operated by MSC (UK) Ltd, with primary business activities including container storage, cleaning, repairs, conversions, customisations and reefer pre-tripping. Thanks for your vote! A court which has jurisdiction over maritime questions pertaining to ocean transport, including contracts, charters, collisions, and cargo damages. UNCTAD's premise was to build a computer system to assist customs authorities (or their local equivalent) all over the world to automate and control their core processes and obtain timely, accurate and valuable information to support government projections and planning. An agreement to purchase goods under specified terms. Said of a vessel resting on or touching the ground or bottom of a waterway. This document is sent by one party to another to whom a shipment has been sent, on consignment or otherwise. What does OFT stand for in Shipping? If you are new to shipping terms contracts you may be unaware of the different trading practices in their respective countries. This is one of several classification societies; with a mission to promote the security of life, property and the natural environment, primarily through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities (i.e. 1 Glossary of Shipping Terms May 2008 Maritime Administration 1200 New Jersey Avenue, SE Washington, DC 20590. A part of Custom's Automated Commercial System (ACS), controls imported merchandise from the time a carrier's cargo manifest is electronically transmitted to Customs until control is relinquished to another segment of the ACS. Also refers to any gear not fastened down or put away properly. A vessel that is so low in the water that the water is constantly washing across the surface. A person authorised to transact business for and in the name of another person or company. A stipulation within a letter of credit in which some or all of the proceeds are assigned from the original beneficiary to one or more additional beneficiaries. The hull section of a vessel above waterline, the visible part of a ship. Often includes a freight invoice. The ambient temperature of a container is the atmospheric temperature to which it is exposed. Aménagement du réseau ferroviaire. Also to ride out a storm with no sails and helm held to leeward. The correct term, able seaman, remains in use in legal documents, in seaman's papers, and aboard ship. An air waybill is usually attached alongside goods sent by air transport. AMS Automated Manifest System. The temperature of a surrounding body. This is one of several classification societies; with a mission to promote the security of life, property and the natural environment, primarily through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities (i.e. a carrier or an agent, for the purpose of the booking of cargo for a specific voyage. A term indicating that a shipper's agent or representative is not empowered to make definite decisions or adjustment without the approval of the group or individual represented. "OFT." An AB may work as a watch-stander, a day worker, or a combination of these roles. A share of the capacity of a means of transport assigned to a certain party, e.g. The type of calculations used in adjusting general average gave rise to the use of 'average' to mean 'arithmetic mean'. For more information see Marine Cargo Insurance. By the side of a ship or pier. This is the fee payable by a ship-owner or ship operator to a port agent. https://www.abbreviations.com/term/1812498. The International Maritime Organization's (IMO) International Convention for the Safety of Life at Sea (SOLAS) requires AIS to be fitted aboard international voyaging ships with gross tonnage (GT) of 300 or more tons, and all passenger ships regardless of size. Afloat and unattached in any way to the shore or seabed, but not under way/power. A note for one month's wages issued to sailors on their signing a ship's articles. It is a very time- and cost-efficient way of shipping goods for shippers who need to move large amounts of cargo. When the seller has to furnish a bill of lading, waybill or carrier's receipt, he duly fulfills this obligation by presenting such a document issued by the person with whom he has contracted for carriage to the named destination. Tariff Act of 1930. Usually refers to a rating that applies to an article regardless of weight. A term indicating that a shipper's agent or representative is not empowered to make definite decisions or adjustment without the approval of the group or individual represented. When a Bill of Lading is accepted or signed by a shipper or shipper's agent without protest, the shipper is said to acquiesce to the terms, giving a silent form of consent. It is a classification society, with a mission to promote the security of life, property and the natural environment, primarily through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities. A command to cease or desist from whatever is being done. Post Office Box 24348 Seattle, WA 98124–4348 Contact: Ms. Gail Knapp, President Phone: (206) 768–3502 Mobile: (206) 396–8168 Email: email@example.com Contact: Mr. Don Reid … Possible OFT meaning as an acronym, abbreviation, shorthand or slang term vary from category to category. 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