F

 

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.