Acceptance of Goods
The process of receiving a consignment from a consignor,
usually against the issue of a receipt. As from this
moment and on this place the carrier's responsibility
for the consignment begins.
Act of God
Accidents of a nature beyond human control such as flood,
lightning or hurricane usually quoted as 'force majeure'.
Ad Valorem
In proportion to the value: A phrase applied to certain
freight or customs duties levied on goods, property,
etc. set as a percentage of their value.
Advice Note
A written piece of information e.g. about the status
of the goods.
Agency Fee
Fee payable by a shipowner or ship operator to a port
agent.
Agent
A person or organisation authorised to act for
or on behalf of another person or organisation
An Agent is a corporate body with, which there
is an agreement to perform particular functions
on behalf of them at an agreed payment.
An Agent is either a part of the organisation
or an independent body
Air Waybill
Abbreviation: AWB
A document made out by or on behalf of the carrier(s)
confirming receipt of the goods by the carrier and evidencing
the contract between the shipper and the carrier(s)
for the carriage of goods as described therein.
Allotment
A share of the capacity of a means of transport assigned
to a certain party, e.g. a carrier or an agent, for
the purpose of the booking of cargo for a specific voyage.
American Bureau of Shipping
Abbreviation: ABS
American classification society which has established
rules and regulations for the classification of seagoing
vessels or equipment.
Arbitration
The process of referring to an agreed person for judgement
on issues of dispute, without requiring the use of courts.
Arrival Date
The date on which goods or a means of transport is due
to arrive at the delivery site of the transport.
Arrival Notice
A notice sent by a carrier to a nominated notify party
advising of the arrival of a certain shipment or consignment.
Assignment
The transfer of certain rights from one party to another.
Authorised Consignee / Consignor
A trader authorised by the European Commission (regulation
2454/93) to receive or despatch consignments under transit
procedures without having to present goods and documents
directly at the customs office.
Authorization
The commission to a certain person or body to act on
behalf of another person or body. The person or body
can be authorised e.g. to issue Bills of Lading or to
collect freight.
Average
In marine insurance: a loss or damage to or in
respect of goods or equipment
The numerical result obtained by dividing the
sum of two or more quantities by the number
of quantities
Average Adjusters
In general average affairs average adjusters are entrusted
with the task of apportioning the loss and expenditure
over the parties interested in the maritime venture
and to determine which expenses are to be regarded as
average or general average.