Understanding The Lingo

Understanding some of your shipping agents terms and acronyms.

Like all businesses and professions, shipping agents have their own terms and acronyms. When using Shiprite International we want you to understand what were doing and why.

To help you with that, below are a few of the terms and acronyms we use so you can gain a brief understanding and know what we are talking about.

Please note: These terms are intended as a brief guide:

• ACA – Air Cargo Automation
• DDP – Deliver Duty Paid
• C & F – Cost and Freight
• DUMPING – A tariff imposed to discourage sale of foreign goods at less than a fair market price that would be detrimental to local manufacturers
• CIF – Cost, Insurance and Freight
• DO – Delivery Order
• FCL – Full Container Load
• L/C – Letter of Credit
• LCL – Less Than Container Load
• LOLO – Lift On Lift Off
• Consignor – The company or person shown on the bill of lading as the shipper
• Consignee – Name and address of the buyer of the goods
• HS – an international document called the Harmonized Commodity Description and Coding System. Also commonly referred to as the Harmonized System (HS), which is used. by all of Australia’s major trading partners.
• TA – Tariff Advice
• ABN – Australian Business Number
• WTO – Customs determines the value of goods imported into Australia based on the World Trade Organization (WTO) Valuation Agreement. This valuation system is used by most trading nations.
• GST – GST applies to most imported goods. There are few exemptions from the GST, the main ones being certain foodstuffs, some medical aids and appliances and imports that qualify for certain customs duty concessions.
• WET – Wine Equalization Tax
• FOB – Free On Board
• EXW – Ex Works is you paying to get that product to your door, or your seller
• ROO – Rules Of Origin
• LCT – Luxury Car Tax
• AHECC – The Australian Harmonized Export Commodity Classification
• SCA – Sea Cargo Automation
• THC – Terminal Handling Charge
• W/M – Weight or Measure (whichever is greater)
• PSC – Port Service Charge

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