14/08/2018
Agent - A person authorized to transact business for and in the name of another person or company.
BAF - Bunker Adjustment Factor. Adjusts the freight to reflect current cost of bunkers (fuel for ships).
B/L (Bill of Lading) – acts as a receipt for the cargo and contains the terms of the contract of carriage and is a document of title to the goods.
Bonded Warehouse - A place of security approved by the custom authorities for the deposit, keeping and securing of goods liable to excise duty, without payment of this duty.
Break Bulk - Goods shipped loose in the vessels hold and not in containers.
CAF - Currency adjustment factor – adjusts the freight to reflect currency exchange fluctuations.
CABAF - Currency and Bunker adjustment factor, a combination of CAF and BAF.
CAN/PRA - CAN (Customs Authority Number) It's the number given by customs upon the clearance of export goods. PRA (Pre Receival Advice) It's the electronic lodgment to the wharf for notification of a container coming in for export.
Cartage - Refers to the intra-city haulage of goods on drays (heavy side less cart) or trucks.
Certificate of Origin - A document certifying the country of origin of goods which is normally issued or signed by a Chamber of Commerce or Embassy
CFR (Cost and freight) - An Incoterm where the seller includes the cost of transportation in the price for his goods (freight pre-paid). Formerly known as C & F.
CFS (Container Freight Station) – a place for the packing and unpacking of LCL consignments.
CHIEF (Customs Handling of Import and Export Freight) – a customs computer system.
CIF (Cost, insurance and freight) - An Incoterm where the seller arranges and pays for the main carriage to the port of destination and organizes the insurance cover for the cargo, while in transit.
