Glossary

Foreign Principal Party of Interest The party to whom final delivery or end use of the exported goods will be made, usually the buyer.

The seller must deliver the goods to a pier and place them within reach of the ship’s loading equipment. See Terms of Sale.

An astray shipment (a lost shipment that is found) sent to its proper destination without additional charge.

An Incoterm of sale meaning the seller has delivered when the cargo is given to the carrier nominated by the buyer at the named place.

Cost of loading and unloading a vessel is borne by the charterer/shipper.

A marine insurance term meaning that the assurer will not allow payment for partial loss or damage to cargo shipments except in certain circumstances, such as stranding, sinking, collision or fire.

Shipped under a rate that includes costs of delivery to and the loading onto a carrier at a specified point. • FOB Freight Allowed: The same as FOB named inland carrier, except the…

See Terms of Sale.

Cost of unloading a vessel is borne by the charterer.

A restricted area at a seaport for the handling of duty–exempted import goods. Also called a Foreign Trade Zone.