Letter of credit
A document issued by commercial banks to guarantee payment for goods. This indicates to the seller or exporter that, upon fulfilment of the conditions of the contract, the issuing bank is responsible for the disbursement of money.
C.A.F.
Currency Adjustment Factor. Adjustment for exchange rate fluctuations.
B.A.F.
Bunker Adjustment Factor . Adjusts to fuel cost variation.
F.C.L.
Full Container Load. It is a full container with goods from a single shipper.
B/L
Bill of Lading. A document specific to maritime transport used in the context of a contract for the carriage of goods on a liner vessel.
Demurrages
Daily cost invoiced by the shipping company for the use of its containers for the transport of goods.
E.T.D.
Estimated Times of Departure. Expected date of departure of a vessel from the port of origin.
E.T.A.
Estimated Times of Arrival. Expected date of arrival of a vessel at the port of destination.
Emptying
Unloading the container.
TEU
Twenty-foot Equivalent Unit. A TEU is the cargo capacity of a standard 20-foot container.