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Freight Forwarder
An agent whose functions are to help expedite shipments by preparing the necessary documents and making other arrangements for the movement of merchandise.
Free Trade Zone
An area to which goods may be imported for processing and subsequent export on duty
free port
Separate area within a port where goods which have been imported may be held without duty payment.
Free Out (F.O.)
Cost of unloading a vessel is borne by the charterer.
Free In And Out (F.I.O.)
Cost of loading and unloading a vessel is borne by the charterer.
Flag
Nationality of a ship or the country where the ship is registered.
FX
Foreign Exchange
fwd.
Forward
ft
Feet
Frt.
Freight
fob
Free on board
FLASH
Feeder
FEU
Forty
FCL
Full container load
F/R
Freight release
f.o.t.
Free on truck
f.o.r.
Free on rail
f.o.q.
Free on quay
f.o.d.
Free of damage
F.O.C.
Flag of convenience, Free ofcommission, Free of charge, Free of claims
f.o.c.
Free on car, Free of charge
f.o.b.
free on board
f.i.o.s.
Free in and out stowed
f.i.o.
Free
f.d.
Free discharge. Free delivery. Free despatch. Free docks
F.C.L.
Full container loads
FTZ
Foreign Trade Zone
FTI
Foreign Traders Index
FTD
Foreign Trade Division
FTC
Federal Trade Commission
FTA
Free Trade Agreement/Area
FSs
Feasibility Studies
FOREX
Foreign Exchange
FOR/FOT
Free on Rail/Free on Truck
FOB
Free on Board
FMV
Foreign Market Value
FMC
Federal Maritime Commission
FI
Free In and Out
FI
Free In
FCA
Free Carrier
FAK
Freight All Kinds
F/X
Foreign Exchange
Freight All Kinds
FAK is a shipping classification. Goods classified FAK are usually charged higher rates than those marked with a specific classification and are frequently in a container which includes various classes of cargo.
Free Out
A pricing term indicating that the quoted prices includes the cost of unloading the goods from the vessel.
Free on Rail/Free on Truck
These terms are synonymous, since the word "truck" relates to the railway wagons. The terms should only be used then the goods are to be carried by rail.
FOB Airport
FOB Airport is based on the same principle as the ordinary FOB term. The seller's obligations include delivering the goods to the air carrier at the airport of departure. The risk of loss of or damage to the goods is transferred from the seller to the buyer when the goods have been so delivered.
Free on Board
Free On Board (FOB) at a named port of export. The seller quotes the buyer a price that covers all costs up to and including delivery of goods aboard a vessel at a port. FOB is also a method of export valuation.
Free In and Out
A pricing term indicating that the charterer of a vessel is responsible for the cost of loading and unloading goods from the vessel.
Free In
A pricing term indicating that the charterer of a vessel is responsible for the cost of loading goods onto the vessel.
Foul Bill of Lading
A receipt for goods issued by a carrier with an indication that the goods were damaged when received.
Foreign Person
A foreign person is any person resident outside the United States or subject to the jurisdiction of a country other than the United States. "Person" is any individual, branch, partnership, association, associated group, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the U.S. Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government sponsored agency.) See: Foreign Parent Foreign Parent Group U.S. Affiliate.
Foreign Parent Group
A foreign parent group, FPG, consists of: (1) the foreign parent, (2) any foreign person or entity, proceeding up the foreign parent's ownership chain, that owns more than 50 percent of the party below it, up to and including the ultimate beneficial owner (UBO), and (3) any foreign person or entity, proceeding down the ownership chain(s) of each of these members, that is owned more than 50 percent by the party above it. A particular U.S. affiliate may have several ownership chains above it, if it is owned at least 10 percent by more than one foreign party. In such cases, the affiliate may have more than one foreign parent, UBO, and/or foreign parent group.
Foreign Flag
A reference to a carrier not registered in the United States that flies the American flag. The term applies to air and sea transportation.
Force Majeure
The title of a standard clause in marine contract exempting the parties for non
Flag of Convenience
A ship registered under the flag of a nation which offers conveniences in the areas of taxes, crew, and safety requirements.
Fines, Penalties, and Forfeitures System
The Fines, Penalties, and Forfeitures System, FPFS, a part of Customs' Automated Commercial System, is used to assess, control, and process penalties resulting from violations of law or Customs regulations. FPFS provides retrieval of case information for monitoring case status.
Federal Maritime Commission
The FMC is an independent agencys which regulates oceanborne transportation in the foreign commerce and in the domestic offshore trade of the United States.