Incoterms
Trade Terms (Incoterms)
EXW / FCA / FAS / FOB
From ex-works to free on board — seller obligations increase progressively. FOB is commonly referred to as "free alongside ship."
CFR / CIF
Seller pays freight to the destination port (CIF includes insurance); risk typically transfers at the ship's rail at the port of loading.
DAF / DES / DEQ / DDU / DDP
In the delivered-at-destination series, DDP places the maximum obligation on the seller (delivered duty paid) — the opposite of EXW.
Ocean Glossary
Ocean Freight Terminology
| Abbrev. | English | Description |
|---|---|---|
B/L | Bill of Lading | Ocean bill of lading |
FCL / LCL | Full / Less Container Load | Full container / consolidated cargo |
CY / CFS | Container Yard / Freight Station | Container yard / CFS warehouse |
POL / POD | Port of Loading / Destination | Origin port / destination port |
O/F | Ocean Freight | Base ocean freight charge |
BAF / CAF | Bunker / Currency Adjustment | Fuel / currency surcharge |
THC | Terminal Handling Charges | Terminal handling fee |
PSS | Peak Season Surcharges | Peak season surcharge |
TEU / FEU | Twenty / Forty-Foot Equivalent | 20' / 40' container unit |
NVOCC | Non Vessel Operating Common Carrier | Non-vessel operating common carrier |
HBL / MBL | House / Master B/L | House bill / master bill of lading |
ETD / ETA | Estimated Time of Departure / Arrival | Estimated departure / arrival |
D/O | Delivery Order | Port delivery order |
C/O | Certificate of Origin | Certificate of origin |
W/M | Weight or Measurement | Chargeable by weight ton or measurement ton, whichever is greater |