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FOB (shipping) 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 ...
Standard Carrier Alpha Code. The Standard Carrier Alpha Code (SCAC) is a privately controlled US code used to identify vessel operating common carriers (VOCC). It is typically two to four letters long. The National Motor Freight Traffic Association developed the SCAC code in the 1960s to help road transport companies computerize data and records.
COB – Close of Business. COC – Cost of Credit [2] or Cost of Capital [3] COD – Cost of Debt [4] or Cash on Delivery. COE – Center of Excellence or Cost of Equity [5] COGS – Cost of Goods Sold. Corp. – Corporation. COO – Chief Operating Officer. CPA – Certified Public Accountant. CPI – Consumer Price Index.
A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of cargo. [1] Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination, and route. Most freight forwarders and trucking companies use an in-house waybill called a ...
AAW An acronym for anti-aircraft warfare. aback (of a sail) Filled by the wind on the opposite side to the one normally used to move the vessel forward.On a square-rigged ship, any of the square sails can be braced round to be aback, the purpose of which may be to reduce speed (such as when a ship-of-the-line is keeping station with others), to heave to, or to assist moving the ship's head ...
Buy online, pick up in store. ICYMI. An abbreviation meaning “in case you missed it”. FOMO. Fear of missing out. FWIW. An abbreviation meaning “for what it’s worth”. LASER. Light ...
Less-than-truckload shipping or less than load (LTL) is the transportation of an amount of freight sized between individual parcels and full truckloads. Parcel carriers handle small packages and freight that can be broken down into units less than approximately 150 pounds (68 kg). Full truckload carriers move entire semi-trailers.
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. [ 1 ] The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air (International English: "carriage") as well.