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Shipping Glossary

Shipping Glossary

Terminal Ports

Main ports directly touched by the members of a Conference which serve as the basis for the calculation of freight for those ports which are only served by transhipment

Termination Fee

Fee accruing with the return of rented containers for administration, wear etc

Terms of Payment

Terms regulating payment transactions between the buyer and the seller of goods. Terms which are advantageous for the seller are also called hard terms, whereas terms which are advantageous for the buyer are called soft terms. Decisive for the choice of terms is the market position held by the seller and/or buyer

Terms of Sale

The point at which sellers have fulfilled their obligations so the goods in a legal sense could be said to have been delivered to the buyer. They are shorthand expressions that set out the rights and obligations of each party when it comes to transporting the goods. The following are the thirteen terms of sale in international trade as reflected in the International Chamber of Commerce Terms of Trade (INCOTERMS), effective July, 1990:

Terrestrial Navigation

Navigation which orients itself by prominent landmarks. It is therefore only possible close to the coast

Territorial Waters

Coastal waters to which the riparian states have full sovereign rights. According to the International Convention on the law of the Sea, the territorial waters constitute a zone of 12 nautical miles along the coast of a state. Exception: Germany has a right to a zone 16 nautical miles off the island of Helgoland

TEU

Twenty-foot equivalent unit container. Used to measure a vessel's capacity

TFS

TEMPORARY FEEDER SURCHARGE

Through B/L

Blanket documentation when multiple carriers of various transport modes are involved

Through Container Service

Continuous container traffic from the forwarder to the consignee. Syn.: Through transport, door to door or multimodal transport

오시는 길

서울특별시 강서구 마곡중앙 8로 78(마곡동, SM R&D 센터) 5, 6층
지하철 5호선 발산역 1, 9번 출구