Terms used in shipping such as Dispatch,Distributor,District Export Councils , Divert,Diversionary Dumping etc.
This post explains about terms used in shipping such as Dirty Float ,Dis.,DISABLED SHIP,Dispatch,Distributor,District Export Councils ,Divert,Diversionary Dumping,Dock Receipt etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in shipping
Dirty Bill of Lading - Bill of Lading containing one, or more than one superimposed clause specifying a defect to the cargo or packing, noted at the time the goods are received by the ship. Such a Bill of Lading is also referred to as foul or unclean.
Dirty Float - Dirty float refers to a system in which the float of exchange rates is partially determined by government intervention or restrictions to limit appreciation or depreciation; sometimes known as managed float. See: Clean Float.
Dirty/Foul/ Claused B/L:A bill of lading with any clauses declaring a defective condition in the goods and/or their packing. Almost invariably not acceptable to banks for presentation under L/Cs and almost always not acceptable to the buyer. (See also Clean Bill of Lading).
Dis. – Discount
DISABLED SHIP:When a ship is unable to sail efficiently or in a seaworthy state as a result of engine trouble, lack of officers or crew, damage to the hull or ship’s gear.
Disbts. – Disbursements
Disbursements — Sums paid out by a ship's agent on behalf of a shipowner at a port and recovered from the shipowner by means of a disbursements account. Typical expenses include pod charges, pilotage, towage and the agent's fee.
DISC - Domestic International Sales Corporation
discharge - Remove goods from a ship.
Discharged:a term used to describe the unloading of containers on a steam ship.
DISCHARGES:An essential document for officers and seamen as it serves an official certificate confirming sea experience in the employment for which he was engaged.
Disclosure Meeting - An informal meeting at which ITA discloses to parties to the proceeding the methodology used in determining the results of an antidumping investigation or administrative review. A disclosure meeting is generally held promptly after the preliminary or final determinations of an investigation or promptly after the preliminary or final results of a review. See: Tariff Act of 1930.
Discrepancy Letter of Credit:When documents presented do not conform to the requirements of the letter of credit (L/C), it is referred to as a "discrepancy." Banks will not process L/C's which have discrepancies. They will refer the situation back to the buyer and/or seller and await further instructions.
DISH - Data interchange in Shipping
Dismissal of Petition - A determination made by the Commerce Department's International Trade Administration that the petition does not properly allege the basis on which antidumping duties may be imposed, does not contain information deemed reasonably available to the petitioner supporting the allegations, or is not filed by an appropriate interested party. This dismissal causes termination of the proceeding. See: Tariff Act of 1930.
Dispatch - An amount paid by a vessel's operator to a charter if loading or unloading is completed in less time than stipulated in the charter agreement.
Dispatch - An amount paid to a charterer by the vessel operator if loading or unloading is accomplished in less time than provided for in the charter party.
Displacement:The weight, in tons of 2,240 pounds, of the vessel and its contents. Calculated by dividing the volume of water displaced in cubic feet by 35, the average density of sea water.
Disponent Owner - Person or company who controls the commercial operation of a ship, responsible for deciding the ports of call and the cargoes to be carried, very often, the disponent owner is a shipping line, which time charters a ship and issues its own liner bills of lading. In most cases, BBC Chartering is acting as "disponent owners”.
Dispute Settlement - This refers to the resolution of opposing aims often facilitated through the efforts of an intermediary. In the GATT context, dispute settlement provides opportunities for individual contracting parties to resolve trade problems through negotiated means or with the help Applicants and consignees must establish Internal Control Programs to ensure the proper distribution of items under the DL. Each program must include comprehensive procedures for ensuring that the items exported will be used only for legitmate end-uses.
Distributor - A foreign agent who sells directly for a manufacturer and maintains an inventory on hand.
Distributor - A foreign agent who sells directly for a supplier and maintains an inventory of the supplier's products.
District Export Councils - DECs serve as a voluntary auxiliary of US&FCS district offices to support export expansion activities. There are 51 DECs with 1500 members which help with workshops and also provide counseling to less experienced exporters.
Diversion / Reconsignment:Diversion is a tactic used by shippers to change the destination (consignee) of freight while the goods are in transit. The shipper will notify the carrier prior to the arrival of freight at the destination of the new consignee, and the carrier will adjust the freight routing accordingly. Reconsignment is a similar concept, except that the shipper notifies the carrier of the new consignee after the freight arrives at the destination, but (obviously) before delivery/unpacking. Carriers impose extra charges for these services typically, but they provide flexibility to the shipper.
Diversion:A change made either in the route of a shipment in transit (see Reconsignment) or of the entire ship.
DIVERSION:A change made in the route of a shipment in transit
Diversionary Dumping - This occurs when foreign producers sell to a third country market at less than fair value and the product is then further processed and shipped to another country.
Divert:The route of a shipment changed in transit from that shown on the original billing. Used interchangeably with reconsign.
Division:Carriers' practice of dividing revenue received from rates where joint hauls are involved. This is usually according to agreed formulae.
DK. – Deck
DL - Distribution License
dm – Decimeter
DMP - District Marketing Plan
DMs - Definitional Missions
Dock Dues - Charge levied against a shipowner or ship operator by a port authority for the use of a dock.
Dock Receipt - A dock receipt is used to transfer accountability when the export item is moved by the domestic carrier to the port of embarkation and left with the international carrier for export.
Dock Receipt - A receipt given for a shipment received or delivered at a shipment pier. When delivery of a foreign shipment is completed, the dock receipt is surrendered to the vessel operator or his agent and serves as basis for preparation of the Ocean Bill of Lading.
Dock Receipt - It is a receipt issued by an ocean carrier for a shipment received or delivered at a pier or dock.
Dock Receipt:A document used to acknowledge receipt of cargo or container at a CFS or a CY or a Container Terminal. When delivery of an expert shipment is completed, the dock receipt is surrendered to the vessel operator or the operator's agent in exchange for the ocean or house bill of lading.
Dock Receipt:The receipt signed by the container terminal, transfer station or inland station after the receipt of full container load or less than container load under the consignment of the carrier. The dock receipt is compiled by the consigner. If the goods are loaded in more than one container, they should be checked and accepted with packing list, and the dock administrator will not sign the dock receipt until the last container is checked and accepted. If the dock receive full container load, a remark should be made in case of any exception in the appearance. The function of the dock receipt is equivalent to the mate’s receipt in classical transportation. It is the warrant of the consigner to get the bill of lading from the ship company.
The above details describes about terms called in shipping such as Dirty Float , Dis.,DISABLED SHIP,Dispatch,Distributor,District Export Councils ,Divert,Diversionary Dumping,Dock Receipt etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Devanning,Differential Rate,DIM WEIGHT,Dimensional Weight
Related posts about free online training on overseas trade:
How to export your product?
Click here to know HS code of your product
What is the ITC code (Indian Tariff Code) of your product?
12 Major risks and solutions in Imports and Exports
Disadvantages of Letter of credit (LC) for Exporter
Foreign Trade Agreements of India
Mode of payments in international trade
Packing credit loan to Indian Exporters
}Does import of samples attract duty in India?
How to get Certificate of Origin non preferential in West Bengal?
How to get Certificate of Origin non preferential in Uttar Pradesh/Uttarakhand?
How to import of Metallic Waste and Scrap to India?
Office to contact in Tripura for Certificates of origin non preferential
How to import consumer goods and other goods as gifts?
How to get Certificate of Origin non preferential in Tamil Nadu?
Types of Insurance Documents
How to make delay in delivery of Shipment?
How to minimize import cargo clearance time? An open logic proposal to WTO
How to obtain a duplicate BL, if original bill of lading lost
Transferability of Bill of Lading
Transhipment - A redefinition