Supply Chain Q4

Liability for Loss or Damage to Goods

Carriers are liable for any loss or damage to goods while in their possession

FEU

Forty foot equivalent containers

TEU

Twenty-foot equivalent containers

Bill of Lading

A document issued by the carrier to the shipper at the time the carrier takes possession of the goods

Truckload (TL)

A for-hire trucking company that moves larger shipments (entire trailers) from shipper to consignee without unloading and reloading at intermediate facilities

Less-Than-Truckload (LTL)

A for-hire trucking company that transports smaller shipments by consolidating shipments from many shippers and moving them through a network of intermediate facilities

Shippers' Association

A non-profit organization that performs, for its members, services similar to those offered by freight forwarders

Owner-Operator

A person who owns a truck, and contracts with a carrier, shipper, or consignee to provide trucking services to the carrier or shipper or consignee, typically at an agreed rate per unit distance

Transportation Intermediary

A third party hired by the shipper, consignee, or carrier to arrange transportation and/or perform certain activities related to the movement of a shipment

Freight Forwarder

Accepts small shipments from many shippers and consolidates them into larger loads, tenders these larger loads as a single shipment, arranges for delivery of individual shipments, provides advice and expertise

Expeditor

An organization that focuses on transporting rush and emergency shipments between customer-specified points

Fuel Surcharge

Automatic rates to cover inflation or fast acting clauses that add a fuel surcharge

All-Commodity Rate/Freight-All kinds (FAK) Rate

Charge a certain amount per unit rate regardless of what is being shipped

Container Rate

Charge is a fixed amount per container moved, regardless of what is in the container or how full it is

Accessorial Charge

Charged for services not included in the linehaul charge, such as pick up and delivering, loading and unloading, use of equipment etc

Linehaul Charge

Charged for the basic linehaul movement of the shipment

Surcharge

Compensate the carrier for recent changes in major costs

Loss

Complete loss

Claim

Formal process of attempting to recover from the carrier the financial loss incurred by the complete or partial loss of a shipment during transportation

Containerized Freight

Freight transported in a container, which is a large steel box resembling a truck trailer without wheels

Break-bulk Service

General cargo being moved by number or count

Air Freight

Large shipments that tend to be price sensitive, easily shifted to other models (if possible) and must be delivered between 24 and 48 hours

Transportation Broker

Negotiate for, bring together, shippers and consignees who have freight to be moved and carriers who have empty space on their vehicle

Damage

Partial loss

Freight Classification

Products are classified based on physical characteristics of the product, into a small number of groups/classes

Detention

Refer to a charge for the keeping of a carriers vehicle beyond a specified length of time for loading, unloading etc (motor vehicles)

Demurrage

Refer to a charge for the keeping of a carriers vehicle beyond a specified length of time for loading, unloading etc (rail cars)

Rail Unit Train

Refers to a train that is transporting a single product directly from a single shipper to a single consignee

Tracing

Refers to attempts to locate a shipment that has been lost or delayed

Expedited Service

Refers to shipments being moved through the logistics system faster than usual

Landbridge

Refers to substituting land transportation in place of a segment of ocean transportation

Rail Carload Service

Refers to the movement of freight in a train where that train consists of railcars destined for many different consignees

Intermodal Transportation

Refers to the use of two or more transportation modes to move a shipment from origin to destination

Tracking

Refers to tracing of shipments that are not lost or delayed

Liner Ship

Ships that are common carriers which operate on fixed routes between ports, follow published schedules, and charge published rates

Charter (Tramp) Ship

Ships that are leased by a shipper or consignee for a voyage or a specified time period

Waybill

Similar to a bill of lading, in that it acts as a source of information, a cargo receipt, and a contract of carriage

Air Express

Small, low-weight shipments that are very service sensitive and price sensitive

Freight Weight

The unit price that a carrier charges for the linehual transportation of a shipment

Smalls Transportation

Transportation of shipments that are physically small

Carrier Tariff

books of rules and conditions, freight classifications, freight rates, and other information

Courier

next day or later delivery

Messenger

same day delivery

Dimensional Weight

the cubic size of the shipment, converted to a weight by applying an arbitrary conversion formula

Chargeable Weight

the larger of the actual (gross) weight and the dimensional weight

Gross Weight

the per kilogram weight of the shipment, including packaging

Transportation Contract

the shipper or consignee guarantees a minimum volume of shipments in return for lower transportation charges from the carrier