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FALSE BILLING
Describing
freight on shipping documents so as to misrepresent the actual contents of
the shipment.
FAVORED NATION
The
status that is given to countries in which the United States has normal
trade relations.
FEDERAL REGISTER
Government
publication that prints rules/regulations of federal agencies daily.
FEEDER
In
intermodal moves, a pickup/delivery vehicle or ship.
FIRST IN, FIRST OUT
Warehouse
term meaning first items stored are the first used.
FLAT RACK
Open
sided container usually designed with corner posts.
FLUCTUATION RISK
The
risk inherent in international transactions due to due to currency
fluctuations
FOB DESTINATION
A
term of sale whereby freight cost is paid by seller to destination point.
FOB FACTORY
A
term of sale whereby the price of goods includes the loading of goods
aboard a carrier's vehicle at the seller’s factory.
FOB VESSEL
A
term of sale whereby the price of goods includes the transportation to,
and loading of goods aboard a vessel.
FORCE MAJEUR
French
for "Superior Power." Circumstances beyond ones control,
excusing fulfillment of contract. Condition in contract that
relieves either party from obligation where major unforeseen events
prevent compliance with provisions of agreement.
FOREIGN TRADE ZONE ACT
Covers
how and where zones are established, how they are administered, and what
actions are permitted and forbidden in them.
FOREIGN TRADE ZONE
Importers
may temporarily house imported merchandise in a free trade zone before it
is processed through the Customs Service. The importer does not pay duties
while the merchandise is in the foreign trade zone.
FORTY FOOT EQUIVALENT UNIT
Commonly
describes a 40-foot container.
FORWARD
Towards
the bow or front of the vessel.
FORWARDER
1)
Individual/company that accepts LTL shipments and consolidates them into
truckload lots on for-hire basis. 2) Agent who helps expedite shipments by
preparing necessary documents/making other arrangements for moving
freight.
FORWARDING AGENT
Firm
specializing in shipping goods abroad. Payments made for insurance
and other expenses are charged to foreign buyer.
FREE ALONGSIDE
Selling
term in international trade whereby the selling party quotes a price
including delivery of goods alongside overseas vessel at port of export.
FREE ALONGSIDE SHIP
A
selling term that indicates that the quoted price includes the cost of
delivering the goods alongside a designated vessel.
FREE IN AND OUT
Cargo
to be loaded and discharged free of charge to vessel.
FREE IN OUT AND STOW
Cargo
to be loaded, discharged and stowed free of charge to vessel.
FREE ON BOARD
A
term of sale whereby the price of goods includes the loading of goods
aboard a carrier's vehicle.
FREE TIME
The
period of time allowed for loading or unloading before charges for
detention or demurrage of equipment become effective.
FREE TRADE AREA
A
designated trade area where tariffs on imported goods are reduced or
eliminated for certain countries.
FREEZABLE FREIGHT
Freight
that will be damaged if it is subjected to freezing temperatures.
FREIGHT BILL
Carrier's
invoice for payment of transportation services rendered.
FREIGHT CHARGE
The
charge assessed for transportation of freight.
FREIGHT CLAIM
A
demand made upon a carrier for payment of overcharge, loss, or damage
sustained by shipper or consignee.
FREIGHT CONFERENCE
See
"Conference".
FREIGHT FORWARDER
A person who arranges the shipping and export clearance of imported
merchandise.
FREIGHT MANIFEST
A
mirror of the vessel's cargo manifest that also shows freight
charges. For internal accounting and customer service use only.
FREIGHT OF ALL KINDS
A
uniform rate irrespective of commodity.
FUEL ADJUSTMENT FACTOR
An
ancillary charge on some ocean freight shipments to account for
fluctuations in fuel costs. Also referred to as BAF or bunker
adjustment factor.
FULL CONTAINER LOAD
Shipment of a full container.