C/Y Container yard.
CAF Currency Adjustment Factor.
Carnet Customs document, issued under the terms of a convention, that permits the holder to carry or send merchandise temporarily into foreign countries ( for display, demonstration, or similar purpose) without paying duty or posting bond. Examples are ATA (Admission Temporaire) and TIR ( Transport International Routier). Violation of any of the privileges of CARNET will result in assessment of duty and charges for damage. Click here for more info.
Carrier Certificate and Release Order Used to advise Customs of the shipment’s details. By means of this document, the carrier certifies that the firm or individual named in the certificate is the owner or consignee of the cargo.
CBM Cubic Meter (m3).
Certificate of Origin The document certifies that goods were manufactured in the Australia. It is signed by the shipper and may also be a certified by a local Chamber of Commerce, notarized, and even visaed by a resident foreign consul. A Certificate of Origin may be required by a foreign government for control purposes, or by the foreign importer to ensure that he receives Australian goods.
CFR (Cost and Freight) The Shipper is responsible for clearing the goods for export and for the costs to deliver the goods to the port of destination. Actual transfer occurs when the goods are brought over the ship’s rail, and, from the point that the goods cross the threshold of the vessel at the port of embarkation, the risk of loss or damage to the goods and any additional costs incurred while on the vessel are the responsibility of the Buyer. (This term is not appropriate for containerized cargo or for cargo carried aboard a roll on/roll off ro-ro vessel to which CPT should be used).
CFS Container Freight Station.
CFS/CFS Container Freight Station to Container Freight Station.
Chargeable Weight The shipment weight used in determining air freight charges. The chargeable weight may be the dimensional weight or for container shipments, the gross weight of the shipment less the tare weight of the container.
Charterparty A Charterparty is a contract signed between a ship owner and a charter who hires the vessel for a period of time (Time Charter) or for a particular voyage (Voyage Charter).
CIF (Cost, Insurance, and Freight) The Shipper has the same obligations as in CFR with the additional responsibility to provide at least minimum insurance coverage to protect the Buyer’s risk during ocean transport. The parties can agree for the purchase of insurance coverage greater than the minimum. (This term is not appropriate for containerized cargo or for cargo carried aboard a roll on/roll off ro-ro vessel to which CPT should be used).
CIP (Carriage and Insurance Paid to) The Shipper has the same obligations as in CPT with the additional responsibility to provide at least minimum insurance coverage to protect the Buyer’s risk during transport. As in CIF, the parties can agree to additional insurance coverage.
Clean On-Board B/L A Bill of Lading issued without exceptions.
COD Collect on Delivery.
Collect Freight Freight payable to the carrier at the port of discharge or ultimate destination. The consignee need not pay if the cargo does not arrive at destination.
Commercial Invoice A commercial invoice is the basic statement of the seller to the buyer for payment of the goods shipped. It must conform to any Letter of Credit requirements and foreign government requirements. It is used as one of the primary documents in the collection process, and is the main document used by foreign Customs for control, valuation of the goods, pricing, terms of sale, payment and delivery, credit numbers, import license numbers, shipper and consignee names, and shipping marks and numbers. Commercial invoices are usually signed by the exporter.
Commercial Value Assessment of monetary value of manufactured goods including production costs, packaging, shipping, overhead and profit margin; used to determine duty.
Commodity Any article or goods of commerce.
Conference Rates Published rates which are applied equally by all the lines belonging to that particular conference for a specific commodity.
Consignee The receiver of the shipment.
Consular Invoice Prepared from the information on the commercial invoice by the buyer’s consulate or embassy in the shipper’s country, these documents are usually stamped with an official seal. They may be specific forms required by the destination country’s government or simply copies of the Commercial Invoice. Consular Invoices are required for control of certain commodities and to ensure valuation control.
Consularizaiton A document certified by the Consular of some foreign countries verifying the value, quantity and nature of a shipment.
Country of Transshipment The country through which a shipment must pass and be re-sorted to reach its ultimate destination.
Country of Ultimate Destination Final country, as known by an exporter, where goods are scheduled to arrive.
CPT (Carriage Paid To) The Shipper is responsible for clearing the goods for export and for all risk and costs incurred in delivering the goods to their named destination. Additional costs incurred after the goods are in possession of the Carrier are transferred to the Buyer after the goods are in the possession of the Carrier. The definition of Carrier under this term refers to any mode or combination of modes used to transport the goods.
Customs Broker A firm that represents importers in dealings with Customs. Normally responsible for obtaining and submitting all documents for clearing merchandise through Customs, arranging inland transport, and paying all charges related to these functions.
Customs Clearance International procedure of declaring goods at the Customs Office to gain authorized entry of those goods into a country.
Customs Invoice Certain countries require special invoices containing specific information for the Customs clearance and valuation of imported shipments. These documents contain most of the elements of the Commercial Invoice, and are usually in the language of the importing country.
Customs Value The value of a shipment as declared by the shipper or appraised by Customs to enable determination of accurate import duties.
CY/CY Container Yard to Container Yard. A type of steamship line service in which freight is transported from origin container yard to destination container yard.