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Shipping Glossary

Shipping Glossary

ABI

Automated Broker Interface, US Custom’s computer system by which brokers file importers’ entries electronically

Aboard

Referring to cargo being put, or laden, onto a means of conveyance

ABS

American Bureau of Shipping

Absorption

One carrier assumes the charges of another without any increase in charges to the shipper

Acceptance

A time draft (or bill of exchange) that the drawee (payer) has accepted and is unconditionally obligated to pay at maturity

Acceptance of Goods

The acceptance of goods by the carrier. The transportation risk passes on to the carrier at the moment of acceptance

Accessment of Customs Duties

Assessment of duty payable and notification to the person liable for payment of customs duties. The assessment of customs duties is a notice of assessment which can be made in writing or orally

Accessorial charges

Charges that are applied to the base tariff rate or base contract rate (e.g. bunkers, container, currency, destination/delivery)

Account Party/Accountee

The purchasing party, the importer, the buyer in any transaction

ACD

ADD COMM BROKERAGE SUBLETS DR

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