Shipping Terms
Acronym for a vessel that can transport cargo by “rolling on and rolling off”
Ro-Ro Ship
Shipment of goods out of a country
Export
A place for the storage, consolidation and distribution of cargo
Warehouse
Taxes collected on importing and exporting goods.
Tariff
U.S. agency within the executive branch that oversees transportation in the U.S.
DOT Department of transportation
A port employee tasked with loading and unloading ships.
Longshoreman
international trade left to its natural course without tariffs, quotas, or other restrictions.
Free Trade
A method of inventory control which minimizes warehousing by having supplies arrive when they are needed. Arriving on schedule is crucial.
Just in time "JIT"
Material (often wood) placed next to cargo to prevent excessive movement of the cargo during transit in order to avoid damage
Chock
The collective term used to refer to new ideas, inventions, designs, writings, films and so on that are protected by copyright, patent or trademark.
Intellectual Property (IP)
the movement of goods via more than one type of transportation (e.g. air, rail, sea, truck, etc.). A container is one that can be used in different modes of transport without having to unload the goods and reload them at each point at which the mode of transport changes.
Intermodal
The total value of all goods and services produced by a country.
Gross Domestic Product (GDP)
A system of interconnected organizations and activities involved in the movement of goods from a supplier to a customer
Supply Chain
A situation in where a carrier is forced to drive with an empty trailer
Dead-Heading
A term used in marine transportation referring to the time it takes between arrival of a ship and its departure.
Turnaround
The latest time cargo may be delivered to a terminal for loading.
Cut-Off Time
This agreement was established in 1994 to harmonize trade between the United States, Canada and Mexico. Companies located in these countries may be eligible for reduced duty rates when importing if their goods qualify under the terms of the agreement. It was replaced on July 1, 2020, by the United States-Mexico-Canada Agreement (USMCA).
NAFTA
The process of sourcing, purchasing, receiving, and inspecting all of the goods and services your business needs to operate – everything from raw manufacturing materials to software to office supplies.
Procurement
An embargo enforced by a government against another country
Sanction
Also called a documentary collection and often abbreviated as LC or L/C, it is a written commitment by a bank issued after a request by an importer that payment will be made to an exporter.
Letter of Credit
A form of retail business in which the seller takes orders from customers but does not keep the items in stock. Instead, it passes on the order to a manufacturer, wholesaler, another retailer or a fulfillment house that ships the order directly to the customer.
Drop Shipping
An intergovernmental organization that regulates and facilitates international trade between countries.
World Trade Organization (WTO)
The management of the flow of products as they are transported from the point of origin to their final destination.
Logistics
A restriction placed on an operation in order to protect public health and safety.
Quarantine
A common clause included in contracts that exempts parties for not fulfilling their obligations due to events beyond their control, such as natural disasters or war.
Force Majeure