Glossary

Table of Contents

Introduction

Welcome to the comprehensive glossary of digital freight forwarding, logistics, shipping, and fulfillment terms. This jargon resource aims to provide a clear and concise understanding of the key concepts and terminology used in today’s dynamic world.

In today’s interconnected world, efficient and reliable movement of goods is essential for businesses to thrive and meet customer expectations. Digital freight forwarding, logistics, shipping, and fulfillment are integral components of this process, each playing a unique role in the supply chain ecosystem. This glossary will help you have a better understanding of the terminologies associated with the industry. This glossary enables you to be familiar with the global updated knowledge to make informed decisions and effectively communicate within this specialized domain.

As technology continues to transform the transportation and logistics landscape, our focus extends beyond traditional definitions that is we have also provided the galaxefi platform-related jargon.

Throughout this glossary, you will find explanations of key terms, concepts, and acronyms commonly used in the industry. Each entry provides a clear and concise definition to enhance your understanding.

1

10PL

10th Party Logistics – Supply Chain Becomes Aware and Runs Itself

1PL

2

1st Party Logistics – Shipper

2PL

2nd Party Logistics – Traditional Transportation Provider

3

3PL

3rd Party Logistics – Integrated Logistics Service Provider

4

4PL

4th Party Logistics – Higher Level Logistics/IT Consulting

5

5PL

5th Party Logistics – Consulting for Higher Level Logistics/IT Consultants

6

6PL

6th Party Logistics – Artificial Intelligence Driven Supply Chain Management

7

7PL

7th Party Logistics – Autonomous Competitor Created to Test Alternative Supply Chain Strategies

8

8PL

8th Party Logistics – Super Committee Created to Analyse Competitors’ Result

A

Abandonment

The act of relinquishing ownership of cargo to the carrier or consigne

Absorption

The act of a carrier absorbing the cost of an expense

Acceptance of Goods

The act of the consignee accepting delivery of goods

Ad Valorem

A fee charged as a percentage of the value of the goods being transported

Advance against Documents

Financing provided to the exporter based on the documents related to the shipment

Advanced Filing Rules (AFR)

Regulations that require carriers to submit electronic cargo information to customs authorities in advance of cargo loading

Advice Note

A document issued by a carrier or forwarding agent to the shipper advising that goods have been shipped

Advice of Fate

A notification that advises the consignee of the estimated time of arrival of goods

Advising Bank

A bank that advises the beneficiary of a letter of credit

Affreightment

A contract between a ship owner and a charterer for the hire of a ship

Airway Bill (AWB)

The air waybill or air consignment note is a receipt issued by an international airline for goods that have been shipped. This document of title proves the contract of carriage between the airline and the customer. It is non-negotiable

All Risk Insurance

Insurance coverage that protects against loss or damage to cargo from all external causes

AMS

Automated Manifest System

Annexure – I

Statement of Freight Collected and/or Payable Abroad Against Shipments Made During the Month Ended

Annexure – II

Statement of Freight Payable against Imports on Consolidated Basis by Air/ Sea During the Month Ended

Approved Continuous Examination Program (ACEP)

A program under which customs authorities grant faster clearance of cargo to importers who comply with certain security requirements

Arbitrage

The practice of taking advantage of price differences between different markets

Arrival Notice

A document that notifies the consignee of the arrival of a shipment

Assignment

The transfer of ownership of goods or rights from one party to another

Assignment of Proceeds

The transfer of the right to receive payment for a shipment from the beneficiary of a letter of credit to a third party

Assured Party

The party that is insured under a marine insurance policy

Average Adjusters

Experts who calculate the amount of contribution each party must make to general average

Average Clause

A provision in a marine insurance policy that covers losses caused by general average

B

B2B

Business to Business

B2B2C

Business to Business to Customer

B2G

Business to Government

Back Letter

A letter of credit that is issued by the beneficiary in favor of the applicant

Bale Space

The space available in a ship for carrying cargo

Ballast

Heavy material carried by a ship to improve stability

Bank Draft

A payment instrument used to transfer funds between bank

Bank Guarantee

A guarantee issued by a bank that ensures payment will be made if the beneficiary fulfils certain obligations

Bank Release

The release of cargo by a carrier or customs authority upon receipt of payment or other security

Bareboat Charter

A charter agreement under which the charterer hires a ship without crew or provision

Barge

A flat-bottomed boat used to transport cargo on inland waterways

Bay

An area on a ship where cargo is stowed

Bay Plan

A plan showing the location of cargo in a ship’s bays

Beneficial Cargo Owner (BCO)

Refers to the importer of record who takes physical possession of goods at their destination, rather than acting as a third party in the transportation of those goods

Berth

A designated location in a port where a ship can dock

Bill Of Lading (BOL)

A document setting out the terms of a contract between a shipper and a carrier for the carriage of goods between named ports for a specified fee. This is usually prepared by the shipper on forms issued by the carrier which serve as the title deed, contract of carriage and cargo receipt

Blank Sailing

The cancellation of a scheduled ship departure

Bonded Goods

Dutiable imported goods stored in bonded warehouses under customs supervision. Goods under bonded cargo are released for re-export or importer after assessment and payment of import duties, taxes and other charges

Bonded Warehouse

A bonded warehouse is a building or other secure area in which dutiable goods can be stored, manipulated or manufactured duty-free. It can be managed by the state or a private company. In the latter case, the customs bond must be deposited with the government

BookIn

Booking Module in galaxefi

Break Bulk

The handling of cargo that is not in containers or other standardized units

Break Bulk Cargo

Cargo that is not in containers or other standardized units. General cargo or containerized cargo that are:– Manufactured– Semi-manufactured– Processed– Semi-processed

BORN

Booking Request Number in galaxefi

Bulk Cargo

Vassalized cargo that are:– Produce (Agriculture)– Land resources (Minerals)– Coal– Crude Oil etc

Bull Rings

Rings on a ship’s deck used to secure cargo

Bunker

Fuel used to power a ship

Bunker Adjustment Factor (BAF)

The bunker adjustment factor, bunker surcharge or BAF, is the fluctuating portion of ocean freight that represents a surcharge associated with the price of fuel. Sometimes also called Fuel Adjustment Factor (FAF) or Fuel Surcharge

C

C.O.G.S.A.

The Carriage of Goods by Sea

C&F

Cost and Freight (Port). Please also refer CNF, CFR

C2B

Consumer to Business

C2C

Consumer to Consumer

Cargo Carriers

A company that transports goods by ship, plane, or other large vehicle

Cargo Containers

A freight container is a container of sufficient strength to withstand transportation, storage and handling

Cargo Restriction Code

A code that indicates the type of goods that are being shipped and any restrictions or regulations that apply to their transportation

Carnet ATA

A document that allows goods to be temporarily imported into a country without paying duties or taxe

Carrier Haulage

Also known as SD and/or Store Door

Carrier Lanes

Also referred to as a “freight lane”, a carrier lane is simply a route that’s routinely served by a specific carrier

Cash Against Documents (CAD)

A payment method in which an importer pays for goods before receiving them, but the payment is released to the exporter only when certain documents are presented

CASS

Airline registered in CAS

CBM

Cubic Metres

CC

Customer Central in galaxefi

Certificate of Classification

A document that certifies that a vessel meets certain classification standards set by a classification society

Certificate of Manufacture

A document that certifies that a product was manufactured according to certain specifications

Certificate of Origin

A document that certifies the country where a product was manufactured

CFR

Cost and Freight (Port). Please also refer C&F, CNF

CFS

Container Freight Station

Charter Party

A contract that outlines the terms and conditions of a charter agreement between a shipowner and a charterer

Charterer

A person or company that charters a vessel from a shipowner

CIF

Cost, Insurance and Freight (Port)

CIP

Carriage and Insurance Paid (Place)

Classification Societies

Organizations that classify and certify vessels according to certain standards of safety, construction, and maintenance

Clean Bill of Lading

A bill of lading that indicates that the goods were received in good condition and were not damaged or lost during transport

Client

Client is the one who pays against galaxefi packages and has a contract with galaxefi

CLRN

Container Lease Request Number

CNF

Cost and Freight (Port). Please also refer C&F, CFR

Collaboration

galaxefi collaboration module

Collaborator

galaxefi collaborator mobile app

Collecting Bank

A bank that collects payment on behalf of an exporter from an importer’s bank

Collection Papers

Documents required by banks for payment to be made on a letter of credit, including bills of lading, invoices, and other shipping documents

Conference

Shipowners organize themselves into cartels, popularly known as Conference

Confirmed Letter of Credit

A letter of credit that has been confirmed by a bank other than the issuing bank, providing an additional level of security for the exporter

Consignee

The consignee is the recipient of the goods being shipped. A consignee is a customer or client

Consignor

The consignor is the sender of a consignment

Consumer

Who is the end-user

Container Freight

Shipments that fill containers that may be ventilated, insulated, refrigerated, open top, liquid-fill body, or equipped with other devices or racks

Container Number

A unique identification number assigned to a shipping container

Container Yard

A container yard (CY) is a physical facility from which ocean carriers accept and deliver ocean containers, as well as issue and receive back empty containers

Contractual Carrier

A carrier that is named in a contract to transport goods

Correspondent Bank

A bank that provides services on behalf of another bank, such as processing payments, exchanging currencies, or handling letters of credit

CPT

Carrier Paid To (Place)

CRO

Container release order

CSRN

Container Sale Request Number in galaxefi

Currency Adjustment Factor

The Currency Adjustment Factor is a surcharge that carriers charge NVOCCs, freight forwarders or shippers as a way to offset any current or potential changes to currency fluctuations that may change freight rates

Currency Charge (CCH)

The fee charged by banks for converting one currency into another when processing payments between countries

Customer

A customer can be anyone who comes on the galaxefi platform

Customs-Trade Partnership against Terrorism (C-TPAT)

A U.S. government program that works with businesses to secure their supply chains against terrorism and other threats

Cut off date

Cut-Off – Last possible date cargo may be delivered to vessel

CY

Container Yard

D

D2C

Direct to Consumer

Dangerous Goods (DG)

Goods that pose a risk to health, safety, or property during transportation

Dangerous Goods Declaration

A document that lists the dangerous goods being transported, their classification, and any special handling requirements

DAP

Delivered At Place (Place)

DAT

Delivered At Terminal (Port/Place)

DDP

Delivered Duty Paid (Place)

Deadweight (DWT)

The weight of cargo, fuel, provisions, and other supplies that a vessel can carry when fully loaded, minus the weight of the vessel itself

Declared Value for Carriage

The value of goods declared by the shipper for the purposes of determining the carrier’s liability in the event of loss or damage to the goods

Deconsolidation

The process of breaking down a consolidated shipment into individual consignments for delivery to different destinations

Devanning

The process of unloading goods from a container

DO

Delivery order

DocStoc

DMS – Document Management System in galaxefi

Documentary Credit

A letter of credit that requires certain documents to be presented before payment is made

Double Blind Shipment

A type of shipment where neither the buyer nor the seller know the identity of the carrier being used for transportation

Drayage

Short term transport services at port

Drop

The act of delivering a shipment to a specific location, often a transportation hub, for further distribution or storage

Drop Deck

A lower deck system on a particular kind of specialized freight equipment rolls onto an upper deck

Drop Fee

A charge assessed by a carrier or warehouse for delivering a shipment to a specific location, often in addition to standard transportation fees

Drop Shipping

When the merchandise is delivered to the end-user on behalf of the consignor by the manufacturer, a wholesaler, or another retailer (like Amazon)

Dry Van

A closed cargo trailer for transporting items that don’t need refrigeration or other special equipment

DWT

Deadweight Metric Tonnage

E

eBay Freight Shipping

Freight shipping options for eBay sellers

ECT

European Combined Transport, a form of intermodal transportation that combines multiple modes of transportation, such as rail, barge, and truck

EDI

Electronic data information

Electronic Data Interchange for Administration, Commerce and Transport (EDIFACT)

A standard format used for electronic data interchange in the transportation

Emergency Bunker Surcharge (EBS)

A surcharge assessed by carriers to cover the increased cost of fuel during times of high demand or when fuel prices rise unexpectedly

Endorsement

A legal term that refers to the transfer of ownership of a negotiable document, such as a bill of lading, from one party to another

Entry Summary Declaration (ENS)

A customs declaration is required for goods entering the European Union, which provides information on the goods being imported, the shipper, and the consignee

EORI

Economic Operators Registration and Identification number, which is a unique identification number used for customs purposes within the European Union

Equipment Shipping

Transport for large machinery and heavy equipment, such as Articulated Trucks, Boom Lifts, Dozers, etc.

ESI

Electronic shipping instruction

Estate Shipping

Residential freight shipping for goods purchased at an estate sale or auction

Expedited Freight

Freight that must be delivered quickly and with guaranteed service is classified as “Expedited Freight”. This type of freight requires specialized handling to meet stringent delivery deadlines

Export Control Classification Number (ECCN)

A code used to classify and control exports of goods from the United States, based on the potential national security, nuclear proliferation, or anti-terrorism implications of the goods

Export Declaration

A customs document that provides information on goods being exported, the exporter, and the destination country

Export License

A government-issued license that grants permission to export certain goods to a specific country, subject to certain conditions or restrictions

Express Bill of Lading

A bill of lading that is issued and transmitted electronically, without the need for a paper copy

EXW

Ex Works (Place)

F

FAK

For All Kind

FAL

Facilitation of International Maritime Traffic, a convention that provides standard procedures for the clearance of ships and cargo through customs and other regulatory agencies

FAS

Free Along Ship (Port)

FBG

Facilitated by galaxefi

FBS

Facilitated by Service Provider

FC & S

Free of Capture and Seizure, a term used in marine insurance policies to indicate that coverage includes losses resulting from piracy or other acts of violence

FCA

Free Carrier At (Place)

FCL

Full container load

FI

Free In, a term used in shipping contracts to indicate that the carrier is responsible for the cost of unloading the goods at the port of destination

Final Mile

The delivery of products (and passengers) the last leg of transportation

FirstMile

FirstMile carrier includes an inner pickup from the origin and packaging. After the freight is picked up and packaged, the provider will take it to its destination

FiTial

Financial Module in galaxefi

FMC

Federal maritime commission

FOB

Free On Board (Port)

Foul Bill of Lading

A bill of lading that indicates that the goods were damaged or in bad condition when received by the carrier

Free In / Liner Out (FILO)

Indicates that the ocean carrier is responsible for the cargo while it is onboard the ship, but not responsible for loading or unloading it

Free In and Out (FIO)

A term used in shipping contracts to indicate that the carrier is responsible for the cost of loading and unloading the goods at the port of origin and destination

Free In Out Stowed (FIOS)

A term used in shipping contracts to indicate that the carrier is responsible for the cost of loading, unloading, and stowing the goods at the port of origin and destination

Free Out (FO)

A term used in shipping contracts to indicate that the carrier is responsible for the cost of unloading the goods at the port of destination, but not for loading the goods at the port of origin

Free Trade Zone (FTZ)

A designated geographic area where goods can be stored, handled, and manufactured without being subject to customs duties or other taxes

Freeze Protection Services

Numerous carriers offer freeze protection as a service to safeguard freight from being exposed to freezing temperatures

Freight

The amount to be paid for carrying goods

Freight Agency

A brokerage that acts as a liaison among customers and freight vendors or forwarders

Freight Agents

A broker authorized to transact business on behalf of another individual or organization

Freight Bill Audit

An inspection of the bill to a customer, and from a carrier to determine an ultimate stability or difference in cost of services rendered

Freight Broker

A freight broker is an intermediary between shippers and carriers, who arranges and coordinates the transportation of freight by matching shipments with carriers that can transport them

Freight Carrier

A person or an organization, legally permitted and specialized in transporting cargo from one place to another

Freight Class

A range of a number between 50 and 500 that classifies or codes the goods inside a shipment

Freight Companies

Another name for a transportation company or common carrier

Freight Consolidation

Combines multiple shipments in a single container, truck or aircraft

Freight Cost

The amount paid to a carrier company for the transportation of goods from one point to another point

Freight Forwarder

A company that acts on behalf of a customer to transport goods around the globe

Freight Hauling

Transporting goods weighing in excess of 150 lbs or more or with a dimension greater than 4 feet in most cases

Freight Liability

Every booked freight shipment comes with included limited liability coverage. This amount is determined by the carrier and dependent on the commodity type

Freight Lines

Another name for a transportation company

Freight Load

Another term for cargo or shipment

Freight Matching

Automated technology that matches the specific details of a shipment with the corresponding capabilities of a freight company

Freight Quote

A projected shipping cost for goods provided prior to pick up, before the shipment is weighed and measured

Freight Rates

The fundamental tariff or contracted rate imposed by a carrier

Freight Services

The service provided by brokers, forwarders, and carriers for the transportation of goods through multiple modes, such as LTL (Less Than Truckload), TL (Truckload), rail/intermodal, cargo container, and air freight

Freight Shipping

Refer Freight. The amount to be paid for carrying good

Freight Shipping Calculator

A calculator customer can calculate shipping charges

Freight Shipping Quotes

Refer Freight Quote. A projected shipping cost for goods provided prior to pick up, before the shipment is weighed and measured

Freight Shipping Rates

Refer Freight Shipping Services. The cost of shipping goods using a freight service

Freight Shipping Services

Refer Freight Shipping Rates. Services that transport items and packages typically weighing over 150 pounds or having dimensions greater than 4 feet

Freight Terminal

A location where a carrier accepts incoming freight which is then prepared for reloading onto a truck, railcar, vessel, or plane

Freight Transportation

Refer Freight Shipping, Moving Freight. The amount to be paid for carrying goods

Freightways

A freightway is a truck lane, a highway section, or a series of related highways on which heavy vans travel while delivery goods from one region to another

Full Interests Admitted (FIA)

A term used in marine insurance policies to indicate that coverage includes all parties with an insurable interest in the shipment, such as the buyer, seller, and any intermediaries involved in the transaction. A term used in marine insurance policies to indicate that coverage includes all parties with an insurable interest in the shipment, such as the buyer, seller, and any intermediaries involved in the transaction

G

G2B

Government to Business

galax

galaxbot, name of the BOT in galaxefi

GD

Goods declaration

gef

Short form of galaxefi Platform

General Average (G/A)

A principle of maritime law that requires all parties involved in a sea voyage to share the losses proportionately in the event of a voluntary sacrifice of cargo or expenditures made to save the voyage

General Average Act (York-Antwerp Rules)

A set of rules that govern the application of general average in maritime law

General Average Bond

A financial instrument that serves as a guarantee that a cargo owner will pay their share of general average expenses if required

General Average Contribution

The amount that each party involved in a sea voyage must contribute to cover the general average expenses

General Average Security

A deposit or guarantee that serves as a commitment by a cargo owner to pay their share of general average expenses if required

General Average Statement

A document that outlines the general average expenses incurred during a sea voyage and the share of those expenses that each party involved must contribute

Ground Freight

A service that entails the transportation of goods by truck over roads and highways

H

Hague Rules

A set of international regulations that govern the liability of ocean carriers for cargo lost, damaged, or delayed during transit

Hague-Visby Rules

An update to the Hague Rules that was adopted in 1968 and includes additional provisions for the carriage of goods by sea

Hamburg Rules

An international convention that sets out the rights and responsibilities of carriers and cargo owners in the carriage of goods by sea

Handling Unit

A handling unit refers to each individual piece of packaged freight that will be transported using a forklift, pallet jack, or manually

Harbor Maintenance Fee (HMF)

A fee charged by US ports to cover the cost of maintaining and improving their infrastructure

Hatch Cover

A cover used to seal the opening in the deck of a ship where cargo is loaded and unloaded

Hatchway

The opening in the deck of a ship where cargo is loaded and unloaded

HAWB

House airway bill

Hazardous Materials (Hazmat)

Substances or materials that pose a risk to health, safety, or the environment during transportation

Hazmat

Any substance that is potentially dangerous and can pose an unreasonable threat to human health, the environment, or safety during transportation, usage, or if not correctly stored or contained, is categorized as a hazardous material. Examples of hazardous materials include fuels, bio-chemicals, and pharmaceuticals

HBL

House bill of lading

Heavy Freight

Freight that weighs more than 8,000 pounds and occupies the maximum weight and space of an entire truck

Heavy-Lift Vessel

A specialized type of cargo ship designed for the transportation of oversized or overweight cargoes

High Cube Container (HC)

A type of shipping container that is taller than standard containers, allowing for more cargo to be loaded

Home Port

The port where a vessel is registered and where it is considered to have its permanent residence

HS Codes

Harmonized Codes used to identify commodity worldwide by customs

I

IATA

The International Air Transport Association

IMF/IWF

International Monetary Fund / International Woodworkers Federation

Incoterms

International commercial terms that define the rights and obligations of buyers and sellers in international trade transactions, including the delivery of goods and transfer of risks and costs

InfoTic

Informatics Module in galaxefi

Inherent Vice

A property of goods that makes them susceptible to damage or loss during transport due to their nature, such as perishable or fragile items

Inland Clearance Depot (ICD)

A facility located inland that is designated by a customs authority for the handling of containerized cargo

Inland Waterways Bill of Lading

A document used for the transportation of cargo by inland waterways

Inside Delivery and Inside Pickup

A special handling service where the carrier picks up or delivers the shipment beyond the curb

Institute Cargo Clause (ICC)

A set of standardized clauses that define the insurance coverage and liabilities for cargo being transported by sea

Intermodal

Separate contracts for different modes of transport

International Association of Classification Societies (IACS)

A non-governmental organization that sets technical standards for the design, construction, and maintenance of ships and other marine structures

International Chamber of Shipping (ICS)

An association of national shipowners’ associations that represents the global shipping industry and promotes the adoption of international shipping standards

International Convention for Safe Containers (CSC)

An international treaty that sets standards for the construction, testing, and certification of shipping containers

International Freight Shipping

Goods that are being transported from one country to another

International Maritime Dangerous Goods Code (IMDG Code)

A set of international regulations that govern the safe transportation of dangerous goods by sea

International Maritime Organization (IMO)

A specialized agency of the United Nations that is responsible for the safety and security of shipping and the prevention of marine pollution by ships

International Ship and Port Facility Security Code (ISPS Code)

A set of international regulations that establish minimum security requirements for ships and ports to prevent acts of terrorism against maritime transport

Interstate Freight

Interstate Freight refers to any shipment of freight, whether it’s a full truckload or less than a truckload, that moves from one state to another

Interstate Truckers

A truck driver who transports freight on a domestic interstate highway

Irrevocable Letter of Credit

A letter of credit that cannot be modified or cancelled without the consent of all parties involved

ISF

Importer security file

J

Jettison

The act of intentionally throwing goods overboard from a ship in order to lighten the load and prevent the vessel from sinking

K

Keel

The central structural member of a ship that runs along the bottom from bow to stern

L

Last Free Day

The last day that a container can be picked up from a port without incurring storage charges

LCL

Loose container load

Letter of Indemnity (LOI)

Letter of Indemnity (LOI)

Lift Gate At Pickup Or Delivery

A liftgate is a platform used to load and unload freight. If a shipment requires a liftgate at pickup or delivery

Lighter

A small barge or boat used for transporting cargo between a larger vessel and the shore or between two vessels

Limited Access

Limited access refers to delivery locations that are more difficult to access than a standard commercial location. These may include places such as schools, military bases, construction sites, residential areas, and other locations that require special equipment or procedures to access

Liner Conference

A group of shipping companies that agree to work together to provide scheduled services on a particular route and to regulate rates and capacity

Liner in Free Out (LIFO)

A type of shipping service in which the carrier is responsible for loading the cargo onto the vessel but the consignee is responsible for unloading it

Liner Service

A regular scheduled shipping service that operates between specific ports or regions

LL/LOLO

Lift on Lift off

Lloyd’s Register of Shipping (LR)

A British classification society that provides independent technical and business assurance services to the maritime industry

Logistics Companies

Logistics companies are businesses that specialize in providing logistics services, such as transportation, Warehousing, inventory management, and supply chain solutions, to other businesses or individuals

LTL

Less than Truckload

LTL Trucking

LTL (Less Than Truckload) trucking refers to the transportation of freight that is larger than a parcel but smaller than a full truckload

M

MAFI Trailer

A type of trailer used for transporting cargo on and off a ship, typically used for heavy or oversized cargo

Marine Insurance Policy

A type of insurance policy that covers loss or damage to goods while they are being transported by sea

Mate’s Receipt

A document issued by the mate (deck officer) of a ship acknowledging the receipt of goods for shipment

Material Safety Data Sheet (MSDS)

A document that provides information about the hazards of a particular substance or product, including its chemical makeup, physical properties, and safety precautions

MAWB

Master airway bill

MBL

Master bill of lading

Merchandise Processing Fee (MPF)

A fee charged by US Customs and Border Protection for processing goods entering the US

Merchant Haulage

Also known as CY and/or Container Yard

Minimum Quantity Commitment (MQC)

A commitment by a shipper to use a minimum amount of shipping services from a particular carrier

MOQ

Minimum Order Quantity that is the minimum requirement to avail the service

Motor Freight

Transportation of cargo by road using trucks or other motor vehicles

Motorcycle Shipping

Transportation of motorcycles from one location to another

Moving Companies

Moving companies are businesses that specialize in helping individuals or organizations relocate their belongings from one place to another

Moving Freight

Refer Freight Shipping, Freight Transportation. The amount to be paid for carrying goods

MQC

Minimum Quantity Commitment

Multi-Purpose Vessel

A type of vessel that can be used to carry a variety of different types of cargo, including containers, bulk cargo, and breakbulk cargo

Multimodal

One contract for all modes of transport

N

NAC

Named Account

Net Tonnage

The total internal volume of a ship, measured in units of 100 cubic feet, after certain deductions are made for spaces that are not used for carrying cargo

NON-CASS

Airline is not registered in CASS

Not Otherwise Indicated (NOI)

The contents of a package or shipment are not classified under any specific hazardous material category

Notice of Abandonment

A notice given by a shipowner or insurer that a ship or cargo has been abandoned, and that the owner or insurer is claiming a constructive total loss

Notify Address

The address to which a carrier sends a notification when a shipment arrives at its destination

Notify Party

The person or entity designated to receive notification of the arrival of a shipment

NVOCC

Non-vessel operating common carrier

O

Oil Bulk Ore Vessel (OBO)

A type of vessel that is designed to carry a variety of different types of cargo, including oil, bulk cargo, and ore

On Board Bill of Lading

A bill of lading that indicates that the goods have been loaded on board the ship

On Deck Bill of Lading

A bill of lading that indicates that the goods have been stowed on deck, rather than below deck

OpCus

Operation and Customer Service Module in galaxefi

Order Bill of Lading

A bill of lading that is made out to the order of a named party, rather than to a specific consignee

Oversize Freight

Shipments that exceed the maximum size limits or legal dimensions for standard transport vehicles such as trucks, trailers, or shipping containers

Overweight Freight

Exceed the maximum weight limits or legal weight restrictions for standard transport vehicles such as trucks, trailers, or shipping containers

P

Panamax Size

The maximum size of a ship that can pass through the Panama Canal, which is currently around 965 feet long, 106 feet wide, and 39.5 feet deep

Parcel Shipping

Transportation of smaller, lighter packages or parcels, typically weighing up to 150 lbs

PC

Partner Central in galaxefi. The users are Warehouse Providers, Transporters, Insurance Providers, Inspection Providers, Clearing Agents and Agents (Representatives)

PCS

PCS is Port Community System is a digital community where all the stakeholder specifically the service providers are connected digitally to facilitate the cross border trade. This includes all modes air, sea, rail and road. PCS refers to an open and neutral platform that connects multiple systems, thus enabling the secure and intelligent exchange of information between the different organizations

PDC

Post Dated cheque

Peak Season Surcharge (PSS)

An additional fee charged by carriers during periods of high demand, such as the peak shipping season

Per Diem Charge

A charge for the use of equipment or facilities, calculated on a daily basis

Perils of the Sea

A term used in marine insurance to refer to accidents or events that occur at sea and are beyond the control of the shipowner or crew

Perishables

Goods that are likely to deteriorate or spoil if not transported quickly, such as fresh produce or meat

POD (Document)

Proof of delivery

POD (Place)

Port of Discharge

Port Log

A record kept by a ship’s captain or crew of the ship’s activities while in port, including cargo handling, repairs, and maintenance

Pounds Per Cubic Feet (PCF)

To determine the weight and volume of a particular shipment. It is calculated by dividing the weight of a shipment (in pounds) by its volume (in cubic feet

Pre-Carriage

The transportation of goods from the shipper’s facility to the port of embarkation

Pre-Shipment Inspection (PSI)

An inspection of goods before they are shipped to ensure that they meet the specified quality and quantity requirement

Proof Of Delivery

Proof of Delivery (POD) is a document or electronic record that serves as evidence of the delivery of a shipment, including the date and time of delivery, the recipient’s name and signature, and other relevant information

Prosumer

Consumer and/or individual customers converted to Service Provider in galaxefi

Protection and Indemnity Club (P & I Club)

A mutual insurance association that provides protection and indemnity insurance for ship owners, operators, and charterers for liability and risks not covered by hull and machinery insurance

Q

Quay

A structure built along the water’s edge for loading and unloading ships

Quotation

An estimate of the cost of goods or services provided by a supplier

Quotation Expiration Date

The date on which a quotation provided by a supplier expires and is no longer valid

R

Red Clause Letter of Credit

A letter of credit that allows for the beneficiary to receive a partial payment in advance of the shipment of goods

Reefer Freight

Refrigerated Freigh

Refrigerated Freight

Transportation of temperature-sensitive goods that require a temperature-controlled environment, such as perishable food, pharmaceuticals, and certain chemicals

Revocable Letter of Credit

A letter of credit that can be revoked or modified by the issuing bank without prior notice to the beneficiary

S

Said to Contain (STC)

A term used on a bill of lading or other shipping documents to indicate that the contents of a container are as stated by the shipper and have not been verified by the carrier

Salvage

The act of rescuing a ship or its cargo from danger, such as from a shipwreck or fire, in exchange for a reward or a percentage of the value of the saved property

SD

Store Door

Sea Cargo Container

A sea cargo container is a large standardized shipping container designed for transporting goods by sea, typically ranging in length from 20 to 40 feet

Segregation

The act of keeping different types of cargo separate to prevent contamination or damage during transportation

SelIn

Sales Management Module in galaxefi

Shipper’s Load and Count (SLC)

A term used on a bill of lading or other shipping documents to indicate that the cargo has been loaded and counted by the shipper and not verified by the carrier

Shippers

A shipper is a person or business that sends or arranges for the transportation of goods or freight via a carrier or logistics provider

Shipping

The process of transporting goods and products from one location to another, whether it be domestically or internationally

Shipping Companies

Shipping companies are businesses that provide transportation services for goods and products through various modes such as air, sea, rail, or road

Shipping Cost

Refer Freight Shipping Cost. The actual cost of shipping cargo

Shipping Labels

Shipping labels are adhesive labels that are affixed to packages or products to be shipped. They typically include information such as the recipient’s name and address, the sender’s name and address, a tracking number, and any special instructions or requirements for the shipment

Shipping Rates

Shipping rates are the fees charged by carriers for the transportation of goods, based on various factors such as weight, dimensions, distance, and mode of transportation

Shipping Service

Refer Freight Shipping Service. Services that transport items and packages typically weighing over 150 pounds or having dimensions greater than 4 feet

SO

Shipping order

SPC

Service Provider Central in galaxefi. The users are Freight Forwarders and NVOCCs

Special Drawing Rights (SDR)

A type of currency used by the International Monetary Fund (IMF) as a unit of account for international transactions

Stack

A group of containers that are stacked on top of each other for transportation

Stacking

The act of placing containers on top of each other for transportation

Stackweight

The maximum weight that can be placed on a stack of containers without causing damage

Starboard

The right-hand side of a ship when facing forward

Stem (Front)

The front part of a ship

Stem (Back)

The back part of a ship

Stevedore

A person or company that loads and unloads cargo from ships

Store Door

At store door or SD carrier bear the responsibility of transporting the container(s) to the designated port from the load address

Straight Bill of Lading

A bill of lading that is made out to a specific consignee and is not negotiable

Surcharge

An additional fee charged for a specific service or due to unforeseen circumstances

Sweeper

A ship that follows a convoy or fleet to clear mines or other obstacles from the water

SyndiCate

Syndicate Module in galaxefi

T

Tallyman

A person who counts and records the number of packages or pieces of cargo being loaded or unloaded from a ship

Tank Container

A container that is designed to transport liquid or gas cargo in bulk

Tanker

A ship that is designed to transport liquid cargo, such as oil or chemicals, in bulk

TEUS

Twenty Equivalent Units – One 20 Feet container

THC

Terminal handling charges

Through Bill of Lading

A single bill of lading that covers the transportation of cargo from its point of origin to its final destination, including any transhipment points

Time Charter

A charter party agreement in which the charterer hires a ship for a specific period of time and pays for the use of the ship and its crew

Tramp Vessel

A ship that does not operate on a regular schedule or route and is available for charter for specific voyages

Transferable Letter of Credit

A letter of credit that can be transferred by the beneficiary to a third party, allowing for the third party to receive payment

Transhipment

The transfer of cargo from one ship to another during transportation

Transportation Brokers

Refer Freight Broker, Trucking Broker. A freight broker is an intermediary between shippers and carriers, who arranges and coordinates the transportation of freight by matching shipments with carriers that can transport them

Transportation Companies

Transportation companies are businesses that specialize in providing transportation services for people, goods, or materials

Trucking

Transporting goods over the road (OTR) via truck

Trucking Broker

Refer Freight Broker, Transportation Broker. A freight broker is an intermediary between shippers and carriers, who arranges and coordinates the transportation of freight by matching shipments with carriers that can transport them

Trucking Business

A trucking business is a company that specializes in providing transportation services for freight, goods, or other cargo via trucks

Trucking Companies

Trucking companies are businesses that specialize in providing transportation services for various types of freight, using trucks as the primary mode of transportation

Trucking Cost Per Mile

The cost incurred for each mile that goods are transported by trucks

Trucking Rates

Refer Freight Rates. The fundamental tariff or contracted rate imposed by a carrier

Trucking Service

Trucking is a mode of transportation that involves the use of trucks or lorries to transport goods from one location to another

U

UNCTAD

United Nations Conference on Trade and Development

Uniform Customs and Practice for Documentary Credits (UCP)

A set of rules established by the International Chamber of Commerce (ICC) to govern the use of documentary credits in international trade

V

Value Added Tax Number (VAT Number)

An identification number used to calculate and track value-added tax (VAT) payments for businesses registered to pay VAT

Value Surcharge

A fee added to a shipment’s freight charges to cover the value of the goods being shipped

Value-Added Services

Additional services provided by a logistics or transportation provider to enhance the value of their core services, such as customs clearance, packaging, and insurance

Value-Added Tax (VAT)

A consumption tax assessed on the value added at each stage of production or distribution of goods and service

Valued Bill of Lading

A bill of lading that specifies the value of the goods being shipped, often used for insurance purposes

Vessel Utilization

The amount of cargo carried on a ship as a percentage of its total capacity

VOCC

Vessel Operating Common Carrier or Shipping Lin

W

Wharf

A structure along a waterfront used for loading and unloading ships

Y

York / Antwerp Rules

A set of international rules governing general average, which is the apportionment of loss in the event of voluntary sacrifice of cargo or equipment in order to save a vessel and its remaining cargo. These rules were first established in York, England, and later revised in Antwerp, Belgium