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Shipping Glossary
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Shipping Glossary
AdventureShipment of goods on shipper’s own account. A bill of adventure is a document signed by the master of the ship that carries goods at owner’s risk |
Advice of ShipmentA notice sent to a local or foreign buyer advising that shipment has gone forward and containing details of packing, routing, etc. A copy of the invoice is usually enclosed and sometimes, if desired, a copy of the bill of lading |
Advice, Letter ofThis document is sent by one party to another to whom a shipment has been sent, on consignment or otherwise. It involves a description of the goods sent, the carrier or other type of transportation being used, the date of departure, and any additional pertinent data. (Bankers use the term letter of advice when notifying interested parties of such actions as the opening of credits, the drawing of drafts and the payment or nonpayment of drafts) |
AFCADDITIONAL FORWARDER COMPENSATION |
AFDBAfrican Development Bank |
Affreightment, Contract ofAn agreement by an ocean carrier to provide cargo space on a vessel at a specified time and for a specified price to accommodate an exporter or importer |
AFLTAfloat |
AftMovement toward the stern (back end) of a ship |
AGAustralia Group |
Agency FeeA commission which is paid in money by the shipowner to the pertinent port agent for services rendered. These commission payments are usually laid down in an agency contract between the shipowner and the port agent. Syn: Agent's Commission |
