FAK:
Freight All Kinds - uniform
airline charging scale
applying to a number of
commodities; as opposed
to SCR (Specific Commodity
Rate) applying to one
commodity only.
FAS
(free alongside ship):
Seller is responsible
for inland freight costs
until goods are located
alongside the vessel/aircraft
for loading. Buyer is
responsible for loading
costs, ocean /air freight
and marine/air insurance.
Fathom:
(Nautical) Conversion
equivalents: 6 feet; 1.83
meters.
F.C.L.:
Full container load, full
car load.
F.c.s.:
Free of capture and seizure.
f.c.s.r.c.c.:
Free of capture, seizure,
riots and civil commotions.
F.&.D.:
Freight and demurrage.
FEU:
Forty foot equivalent
FIATA:
International Federation
of Freight Forwarders
Associations.
Fifth
Freedom Flight:
Where cargo is carried
by an airline between
two countries in neither
of which it is based.
F.i.b.:
Free in bunkers; free
into barge.
Flag
Carrier: An airline
of one national registry
whose government gives
it partial or total monopoly
over international routes.
FOB
(free on board):
Seller is responsible
for inland freight and
all other costs until
the cargo has been loaded
on the vessel/aircraft.
Buyer is responsible for
ocean/air freight and
marine/air insurance.
F.o.d.:
Free of damage
Folded:
An article folded in such
a manner as to reduce
its bulk 33 1/3% from
its normal shipping cubage
when not folded.
Force
Majeure: The title
of a standard clause found
in marine contracts exempting
the parties for nonfulfillment
of their obligations by
reasons of occurrences
beyond their control,
such as earthquakes, floods
or war.
Foreign
Trade Zone: A
free port in the United
Stated divorced from Customs
authority but under Federal
control. Merchandise,
except that which is prohibited,
may be stored in the zone
without being subjected
to the United States tariff
regulation. Also called
Free Trade Zone.
Foreign
Trade Zone Entry:
A form declaring goods
which are brought duty
free into a Foreign Trade
Zone for further processing
or storage and subsequent
exportation.
Forwarder,
Freight Forwarder, Foreign
Freight Forwarder:
An independent business
that dispatches shipments
for exporters for a fee.
The firm may ship by land,
air, or sea, or it may
specialize. Usually it
handles all the services
connected with an export
shipment; preparation
of documents, booking
cargo space, warehouse,
pier delivery and export
clearance. The firm may
also handle banking and
insurance services on
behalf of a client. The
U.S. forwarder is licensed
by the Federal Maritime
Commission for ocean shipments.
Foul
Bill of Landing:
A receipt for goods issued
by a carrier with an indication
that the goods were damaged
when received.
F.P.A.A.C.
F.p.a. (A.C.):
Free of Particular Average,
American Conditions- (Marine
Insurance Term). The American
form of clause commonly
used, as distinguished
from that used by the
English underwriters.
Under the American clause
the underwriter does not
assume responsibility
for partial losses unless
caused by stranding, sinking,
burning or collision with
another vessel whereas
under the English clause,
the underwriter assumes
responsibility for partial
losses if the vessel be
stranded, sunk, burnt
or in collision even though
such an event did not
actually cause the damage
suffered by the goods.
Conditions (See F.P.A.A.C.).
F.P.A.:
Free of Particular Average
(Marine Insurance Term).
A term used in marine
insurance policies to
indicate that while the
underwriter is unwilling
to assume liability for
ordinary partial losses
due to the peculiar qualities
of the particular article
or to its form of package,
he is willing to bear
partial losses, the direct
result of stranding, sinking,
burning, collision, or
other named peril
Free
Alongside: Quoted
price includes the cost
of delivering the goods
alongside a designated
vessel.
Free
In (F.I.): Cost
of loading a vessel is
borne by the charterer.
Free
In and Out (F.I.O.):
Cost of loading and unloading
a vessel is borne by the
charterer.
Free
of Capture and Seizure
(F.C.& S.):
An insurance clause providing
that loss is not insured
if due to capture, seizure,
confiscation and like
actions, whether legal
or not , or from such
acts as piracy, civil
war, rebellion and civil
strife.
Free
of Particular Average
(F.P.A.): A marine
insurance clause providing
that partial loss or damage
is not insured American
conditions (F.P.A.A.C.).
Partial loss is not insured
unless caused by the vessel
being sunk, stranded,
burned, on fire, or in
collision. English conditions
(F.P. A.E.C.). Partial
loss not insured unless
a result of the vessel
being sunk, stranded,
burned, on fire, or in
collision.
Free
Out (F.O.): Cost
of unloading a vessel
is borne by the charterer.
Free
Port: A port which
is a foreign trade zone,
open to all traders on
equal terms; more specifically
a port where merchandise
may be stored duty-free,
pending re-export or sale
within that country.
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,
within the zone and re-exported
without duties being paid.
Duties are imposed on
the merchandise (or items
manufactured from the
merchandise) only when
the goods pass from the
zone into an area of the
country subject to the
Customs Authority.
Freight
Forwarder: An
individual or company
, acting on the behalf
of a shipper, who arranges
all necessary details
of shipping and documentation
for a manufacturer or
exporter, which includes
employing the services
of a carrier of carriers.
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