Fair value: The value of the carrier’s property; original cost minus depreciation, replacement cost, and market value were included in the calculation basis.
FAK freight All kinds
FAS free along side: The seller agrees to deliver the goods to the dock next to the overseas vessel which is to bring the shipment. The seller covers the costs of bringing the shipment to the dock; from that point on the buyer contracts the carrier obtains the paperwork and assumes all responsibility
FCA Free carrier : The seller arranges products with an invoice, packaging, export license, customs formalities when exporting and costs up to the delivery of the goods to the carrier (the carrier), as stipulated by the purchaser and in compliance with the mode of transport. The seller shall deliver the cleared goods and shall pass them to the carrier appointed by the buyer at the agreed location or site.
FCL Full container load: Complete Container Load means that all items are listed on a single Bill of Lading in the container and as such are owned by a single party. How complete the container is, doesn’t matter. Payment is made from a big container.
Feeder: A feeder or barge is a small vessel from/on which a large vessel transports goods. In general, the large vessel can not enter a river or canal.
Fender: Fender is a cushion to prevent damage, positioned between ships, or between a ship and a pier.
Fenex: FENEX aims to create a climate in which affiliated participants can, under favorable conditions, carry out their activities in the most efficient way. An important goal is developing and maintaining healthy relationships within the forwarding business. The provision of information and advice and the organization of training programs has a high priority in order to improve the quality of the services provided by the members.
FEU Forty foot equivalent, a standard size intermodal container
FI fairway Information
FIATA On an international level, forwarding agents are united in the FIATA (the International Federation of Freight Forwarders Associations), established in Zurich
Field Finished Goods: Inventory that is stored outside the factory’s four walls (i.e., distribution center or warehouse) at locations.
Field Warehouse: A warehouse that stores goods in the property of the owner of the goods while the goods are under the custody of a bona fide manager of the public warehouse. The owner uses the receipts for a loan from the public warehouse as collateral.
FIFO First in first out: This refers to the practice of using products from inventory depending on what was first obtained and used first, in inventory control and financial accounting.
Fill rates by order: If orders are issued and delivered regularly, or released from a blanket purchase order, this metric measures the percentage of ship-from-stock orders delivered within 24 hours of “sale” order. Make-to-stock schedules aim to postpone the delivery of finished goods to suit the customer orders or releases forecast. There are various records of orders that were not delivered within 24 hours due to duplication but were available for shipment within 24 hoursWhile measuring elapsed time for order fill levels, the period starts at ship release and ends while the shipment of material is consigned.
FILO Free In/Liner Out: The cargo loading on board the vessel is not included in the freight rate. Nonetheless, unloading to the destination is. In this scenario, the shipper has to pay separately for loading the goods onto the container.
Final Assembly: The commodity installed at the highest level, as it is delivered to clients. This terminology is usually used when goods consist of many features and choices that can only be combined when an order is actually placed
Final assembly schedule (FAS)
Final Destination: The last stopping point for a shipment
FIOS Free In out and Stowed: In the case of FIOS (Free In Out and Stowed), the freight rate is for the actual transport only. The freight rate does not include either the loading, unloading or storage of the goods onboard the ship. Those expenses are to be charged separately by both the shipper and the receiver.
FIOT Free in Out and Trimmed: The freight rate in the case of FIOT (Free In Out and Trimmed) only includes the actual transport. The freight rate does not include either the loading, unloading or trimming of the goods onboard the ship. These charges are to be charged separately by both the shipper and the receiver.
FIPS Federal information processing standards
FIS Fairway Information Service
Fiscal Rrepresentation: Embassy Logistic Services will act on behalf of European and Dutch companies in case of clearing products for import. Because VAT on imports must be converted to a non-Netherlands VAT number, a special customs procedure is followed in which we serve as a tax representative. Before commencing this process, the international customer must approve the forwarding agent in writing.
Flatpacking : Flatpacking is the packed and secured cargo to be viewed as an integral device.
Flat rack: Flat Rack containers, suitable for conveying items from the gauge. Flat Rack containers can be equipped with drop-ends, allowing for better and quicker terminal processing.
Fleet management: Ordinary management and integration at a logistics company of self-owned cars, facilities, workshop and infrastructure systems This include all the operations for vehicles, vehicle equipment, and driver statuses such as necessary venue, times and layover locations.
FLEGT-licence Forest law Enforcement, Governance and Trade: A license requirement for the import of several types of wood, wood products, paper and pulp from Indonesia has come into force from 15 November 2016 onwards. Such products can only be imported if you possess a FLEGT-license
Flexi-bag: The flexibag is a good substitute to a tank container, ISO tanks, bottles, and other non-hazardous liquid ornon-hazardous powder packaging materials. A flexibag is a plastic bag that can be held in a 20 ft, 40 ft or reefer norm and can even be loaded onto a truck. The flexibag’s possibilities are without limit.
Flexitanks: Flexitanks are used to reduce bulk goods (both solid and liquid) transportation costs. It ranges from solid bulk 10-50 kg to dry bulk container liners and liquid bulk flexitanks for use in containers from 20′ to 40′, in reefer containers and on regular truck trailers for volumes from 10,000 to 28,000
Floor-Ready Merchandise(FRM): Products delivered by manufacturers to retailers with all required tags, costs, security devices, etc. already attached so that products can be easily docked or purchased directly in store via retail DCs
FOB free on Board: A term of sale specifying who is to incur shipping charges, who is to control the movement of shipments, or where title to the products passes on to the purchaser; originally meant “free on board ship”
FOB Designation: Title passes at the destination, and the seller is fully liable before shipment is shipped.
FOB Origin: Title passes at root, and whilst in shipping, the buyer has sole responsibility for the goods.
Forklift Truck: A machine-powered tool used to increase and raising freight and to transfer freight to various warehouse locations
Form A: A certificate is written proof of origin from certain developing countries for goods used to receive a discount or exemption from import duties.
Forwarding Agent: If you need foreign shipping for your goods, you would like to make sure they arrive in perfect condition at their destination. It means more than you might imagine. In its capacity as logistics service provider, the forwarding agent is a professional who can take care of this on behalf of his client. He addresses logistical problems and is mindful of the elusive demand for transport.
FOT Free of truck: FOT means Free on Truck, and refers to truck-borne goods. The word should be used only when transporting goods by truck. When the items are loaded onto the vehicle, the possibility of loss or damage is passed on to the customer.
Free On Board: Contractual terms between a buyer and a seller which determine where the transfer of title occurs.
Free time: The time allowed to delete or accumulate the cargo before charges become available.
Freight: Goods are transported from one location to another.
Freight Bill: Rendered invoice from the carrier for the purchase of transport services.
Freight All kinds: An approach to rate making by which the ante is based only on the weight and distance of the shipment; commonly used in TOFC service.
Freight Carrier: Companies that carry freight also called carriers “for-hire.” Transportation strategies include shipping by buses, railroads, airlines, and seaborne.
Freight Charge: The rate established for transporting freight.
Freight Collect: The freight and charges to be paid by the consignee
Freight Forwarder: An agency that offers logistics services, usually on international shipments, as an intermediary between shipper and carrier. Freight forwarders provide the ability to react to evolving customer and market demands and international shipping (import / export) requirements quickly and efficiently.
Freight Forwarders institute: The freight forwarder industry association.
Freight Prepaid: The freight and charges to be paid by the consignor.
Freight Quotation: A quotation from a carrier or forwarder which covers transportation costs between two specified locations.
Freight rate: The demand for transportation of goods to the desired destination.
Fronthaul: The first leg of the truck ride includes transportation to selected destinations of a load or several loads.
FTKs Freight in tonne Kilometres
FTZ Foreign trade zone and free trade zone
Fuel Surcharge: Since diesel is one of the most expensive road transport costs, and the price of diesel is constantly changing, we decided to impose a fuel surcharge (in percentages) on the transport prices. This percentage is determined beforehand and may change every month.
Fulfilment : The process of getting a customer order fulfilled. Completion involves order storage, selection, packing, and delivery.
Full Container load (FCL): Complete Container Load means that all goods are listed on one Bill of Lading in the container and as such are owned by one party. It doesn’t matter how complete the container is. Payment shall be rendered using one container.
Full Linear terms: The Full Liner Terms (FLT) are the terms of service for shipping by sea of goods. From the shipping company’s point of view they express what is and what is not included in the freight price. The freight rate involves the washing, lashing, trimming, self-transport and cargo unloading.
Full truckload(FTL): Same as Full Container load, but in reference to motor carriage instead of containers.
Fumigated Pallets: The fumigated packaging products are used in such a way as to exterminate all the vermin. These will also carry a label and have a certificate accompanying them. A fumigation certificate shall only be given in conjunction with a valid invoice and directions from the Bill of Lading. You may get into major trouble without the appropriate certificates and packaging materials, and face high additional storage costs or product confiscation. The costs of removal are passed back to the shipper and will be payable.
Fumigation: A fumigation certificate shall only be given in tandem with a suitable invoice and directions from the Bill of Lading. You may get into major trouble without the appropriate certificates and packaging materials, and face high additional storage costs or product confiscation.