Glossary Of Trade Terms

Trade Terms

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There are currently 8 glossary terms in this directory beginning with the letter F.
Foreign Trade Regulations
Foreign Trade Regulations is any act that prohibits or restricts, or empowers the President or any executive agency of a country to prohibit or restrict, exports to or financial transactions with any foreign country or foreign national.

Foreign Trade Zone
Definition of Foreign Trade Zone: an isolated policed area adjacent to a port of entry (as a seaport or airport) where foreign goods may be unloaded for immediate trans-shipment or stored, repacked, sorted, mixed, or otherwise manipulated without being subject to import duties.

Free Alongside Ship (FAS)
Free Alongside Ship – The Seller delivers the goods to the origin port. From that point, the Buyer bears all costs and risks of loss or damage.

Free Carrier (FCA)
Free Carrier (named place of origin) The seller delivers the goods, cleared for export, at a named place (possibly including the seller’s own premises). The goods can be delivered to a carrier nominated by the buyer, or to another party nominated by the buyer.

Free on Board (FOB)
Free on Board (FOB) is a shipment term used to indicate whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping. “FOB shipping point” or “FOB origin” means the buyer is at risk and takes ownership of goods once the seller ships the product.

Free Trade Agreement
Free Trade Agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.

Freight Forwarder
A Freight Forwarder, Forwarder, or Forwarding Agent, is a person or company that organizes shipments for individuals or corporations to get goods from the manufacturer or producer to a market, customer or final point of distribution. Forwarders contract with a carrier or often multiple carriers to move the goods.

Full Load Container (FLC)
Full load container (FLC) refers to shipments for which all goods in a container are owned by one party, while Less than Container Load (LCL) involves multiple shippers’ goods packed together. Full Container Load (FCL) shipping is a useful option in many cases, especially when you need to deliver a large volume of product.
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