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FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
Given freight is intangible, there is no physical delivery. Rather, the contracts settle in cash against the arithmetic average price of spot freight published by the Baltic Exchange. The Baltic Exchange, on a daily basis, publishes a number of freight assessments for various shipping routes reflecting the prevailing level of shipping rates.
The freight interline system is a system of relations between trucking companies, rail, and airline networks. Interline freight is cargo that moves between different transportation companies on its journey from origin to consignee .
The word "call" is a shortened form of "call for", which means "to come and get", so "will call" literally means "(the customer) will call for (come and get) the goods." [ 1 ] In a linguistic process similar to initial-stress derived nominalization , the first syllable of the noun phrase is usually stressed (" will call") rather than the second ...
A waybill is a document issued by a carrier acknowledging the receipt of goods by the carrier and the contract for shipment of a consignment of that cargo. [1] Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination, and route.
This means that the air waybill is a receipt for goods and a contract for transportation only and does not transfer ownership of merchandise mentioned in the box "nature and quantity of goods". An ocean bill of lading, if consigned "to order of" the consignee and negotiated, may transfer ownership of the goods and must be endorsed by the party ...
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The term break bulk derives from the phrase breaking bulk—the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ship's holds. These goods may not be in shipping containers. Break bulk cargo is transported in bags, boxes, crates, drums, or barrels.