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Act of God
Advice of Shipment
Bill of Exchange
Bill of Lading (B/L)
– Amended B/L: B/L requiring updates that do not change financial status. Slightly different from corrected B/L.
– B/L Terms & Conditions: Defines what the carrier can and cannot do, including the carrier’s liabilities and contractual agreements.
– B/L’s Status: States whether the Bill of Lading has been rated, reconciled, printed, or released to the customer.
– B/L’s Type: Refers to the type of B/L being issued. Some examples are: Memo (ME), Original (OBL), Non-negotiable, Corrected (CBL) or Amended (AM) B/L.
– Canceled B/L: Signifies a processed B/L that has been cancelled, usually on the shipper’s request. Different from voided B/L.
– Clean B/L: A B/L which has no superimposed clause or notation which declares a defective condition of the goods and/or the packaging.
– Combined B/L: B/L that covers cargo moving over various transports.
– Consolidated B/L: B/L combined or consolidated from two or more B/L.
– Corrected B/L: Updated B/L resulting in financially-related changes.
– Domestic B/L: Non-negotiable B/L, primarily containing routing details. Usually used by truckers and freight forwarders.
– Duplicate B/L: Another original Bill of Lading set if first set is lost. Also known as re-issued B/L.
– Express B/L: Non-negotiable B/L where there are no hard copies of originals printed.
– Freight B/L: A contract of carriage between a shipper and forwarder (who is usually a NVOCC). A non-negotiable document.
– House B/L: B/L issued by a freight forwarder or consolidator covering a single shipment containing the names, addresses and specific description of the goods shipped.
– Intermodal B/L: B/L covering cargo moving via multi-modal means. Also known as Combined Transport B/L or Multimodal B/L.
– Long Form B/L: B/L form with all Terms & Conditions written on it. Most B/L’s are short forms which incorporate the long form clauses by reference.
– Memo B/L: Unfreighted B/L with no charges listed.
– B/L Numbers: U.S. Customs’ standardized B/L numbering format to facilitate electronic communications and to make each B/L number unique.
– Negotiable B/L: A negotiable B/L is a title document issued to the shipper, whose endorsement is required to effect a negotiation. Thus, a shipper’s negotiable B/L can be bought, sold, or traded while goods are in transit and is commonly used for letter-of-credit transactions. The buyer must submit the original B/L to the carrier in order to take possession of the goods.
– Non-Negotiable B/L: See Straight B/L. Also referred to a as a file copy of a B/L.
– “Onboard” B/L: B/L validated at the time of loading for transportation. Onboard Air, Boxcar, Container, Rail, Truck and Vessel are the most common types.
– Optional Discharge B/L: B/L covering cargo with more than one discharge point option possibility.
– “Order” B/L: See Negotiable B/L.
– Original B/L: The part of the B/L that has value, especially when negotiable.
– Received for Shipment B/L: Validated when the cargo is received by ocean carrier to commence movement but before being validated as ‘Onboard’.
– Reconciled B/L: B/L set which has completed a prescribed number of edits between the shipper’s instructions and the actual shipment received. This produces a very accurate B/L.
– Short Term B/L: A form of B/L without the Terms & Conditions written on it. The terms are incorporated by reference to the long form B/L.
– Split B/L: One of two or more B/L’s which have been split from a single B/L.
– Stale B/L: A B/L which has passed the time deadline of the L/C and is void.
– Straight (Consignment) B/L: Indicates the shipper will deliver the goods to the consignee. It does not convey title (non-negotiable). Most often used when the goods have been pre-paid.
– To Order B/L: See Negotiable B/L.
– Unique B/L Identifier: U.S. Customs’ standardization: four-alpha code unique to each carrier placed in front of nine digit B/L number; APL’s unique B/L Identifier is ‘APLU’; Sea-land uses ‘SEAU’. These prefixes are also used as the container identification.
– Voided B/L: Related to Consolidated B/L. The B/Ls’ absorbed in the combining process. Different from Cancelled B/L.
Bill of Sale
Blocking or Bracing
Bridge Point / Bridge Port
Cash Against Documents (CAD)
Certificate of Origin
Clean Bill of Lading
Confirmed Letter of Credit
Container Freight Station
Customs Bonded Warehouse
Discrepancy Letter of Credit
Documents Against Acceptance (D/A)
Documents Against Payment (D/P)
Ex – “From”
Foul Bill of Lading
Harmonized System of Codes (HS)
Insurance with Average-clause
Insurance, Particular Average
Irrevocable Letter of Credit
Less Than Truckload
Letter of Credit (LC)
– Back-to-Back :A new letter of credit issued to another beneficiary on the strength of a primary credit. The second LC uses the first LC as collateral for the bank. Used in a three-party transaction.
– Clean: A letter of credit that requires the beneficiary to present only a draft or a receipt for specified funds before receiving payment.
– Confirmed: An LC guaranteed by both the issuing and advising banks of payment so long as seller’s documents are in order, and the LC terms are met. Only applied to irrevocable LCs’. The confirming bank assumes the credit risk of the issuing bank.
– Deferred Payment: A letter of credit issued for the purchase and financing of merchandise, similar to acceptance-type letter of credit, except that it requires presentation of sight drafts payable on an installment basis.
– Irrevocable: An instrument that cannot be modified or cancelled without the agreement of all parties concerned.
– Non cumulative: A revolving letter of credit that prohibits the amount not used during the specific period from being available afterwards.
– Restricted: A condition within the letter of credit which restricts its negotiation to a named bank.
– Revocable: An instrument that can be modified or cancelled at any moment without notice to and agreement of the beneficiary. Rarely used since there is no protection for the seller.
– Revolving: An irrevocable letter issued for a specific amount. Renews itself for the same amount over a given period.
– Straight: A letter of credit that contains a limited engagement clause which states that the issuing bank promises to pay the beneficiary upon presentation of the required documents at its counters or the counters of the named bank.
– Transferable: A letter of credit that allows the beneficiary to transfer in whole or in part to another beneficiary any amount which, in aggregate, of such transfers does not exceed the amount of the credit. Used by middlemen.
– Unconfirmed: A letter of credit forwarded to the beneficiary by the advising bank without engagement on the part of the advising bank.
Letter of Indemnity
* Various types issued for export (general, validated) and import as mandated by government(s).
Non-Vessel Operating Common Carrier (NVOCC)
Ocean Bill of Lading (Ocean B/L)
Open Insurance Policy
Open Top Container
Original Bill of Lading (OBL)
Place of Delivery
Place of Receipt
Point of Origin
Port of Discharge
Port of Entry
Port of Exit
Pro Forma Invoice
Shipper’s Load & Count (SL&C)
Statute Of Limitation
Uniform Customs and Practices for Documentary Credits (UCP)