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B/L

Abbreviation for "Bill of Lading."

Backhaul

To haul a shipment back over part of a route it has traveled.

BAF

Abbreviation for "Bunker Adjustment Factor." Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF.

Balloon Freight

Light, bulky articles.

Bank Guarantee

Guarantee issued by a bank to a carrier to be used in lieu of lost or misplaced original negotiable bill of lading.

Barratry

An act committed by the master or mariners of a vessel, for some unlawful or fraudulent purpose, contrary to their duty to the owners, whereby the latter sustain injury. It may include negligence, if so gross as to evidence fraud.

Barrel (BBL)

A term of measure referring to 42 gallons of liquid at 600 degrees.

Base Rate

A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate.

BB

Abbreviation for:
- Ballast Bonus: Special payment above the Chartering price when the ship has to sail a long way on ballast to reach the loading port.
- Bareboat: Method of chartering of the ship leaving the charterer with almost all the responsibilities of the owner.

BCO

Abbreviation for "Beneficial Cargo Owner." Refers to the importer of record, who physically takes possession of cargo at destination and does not act as a third party in the movement of such goods.

Beam

The width of a ship.

Belt Line

A switching railroad operating within a commercial area.

Beneficiary

- Entity to whom money is payable.
- The entity for whom a letter of credit is issued.
- The seller and the drawer of a draft.

Berth Terms

Shipped under rate that includes cost from end of ship's tackle at load port to end of ship's tackle at discharge port.

Beyond

Used with reference to charges assessed for cargo movement past a line-haul terminating point.

Bilateral

A contract term meaning both parties agree to provide something for the other.

Bill of Exchange

In the United States, commonly known as a "Draft." However, bill of exchange is the correct term.

Bill of Lading (B/L)

A document that establishes the terms of a contract between a shipper and a transportation company. It serves as a document of title, a contract of carriage and a receipt for goods.

  • Amended B/L: B/L requiring updates that do not change financial status; this is slightly different from corrected B/L.
  • B/L Terms & Conditions: the fine print on B/L; defines what the carrier can and can-not do, including the carrier's liabilities and contractual agreements.
  • B/L's Status: represents whether the bill of lading has been input, rated, reconciled, printed, or released to the customer.
  • B/L's Type: refers to the type of B/L being issued. Some examples are: a Memo (ME), Original (OBL), Non?egotiable, Corrected (CBL) or Amended (AM) B/L.
  • Canceled B/L: B/L status; used to cancel a processed B/L; usually per shipper's request;different from voided B/L.
  • Clean B/L: A B/L which bears no superimposed clause or notation which declares a defective condition of the goods and/or the packaging.
  • Combined B/L: B/L that covers cargo moving over various transports.
  • Consolidated B/L: B/L combined or consolidated from two or more B/L's.
  • Corrected B/L: B/L requiring any update which results in money-or other financially related changes.
  • Domestic B/L: Non-negotiable B/L primarily containing routing details; usually used by truckers and freight forwarders.
  • Duplicate B/L: Another original Bill of Lading set if first set is lost. Also known as reis-sued B/L.
  • Express B/L: Non-negotiable B/L where there are no paper copies printed of originals.
  • Freight B/L: A contract of carriage between a shipper and forwarder (who is usually a NVOCC); a non-negotiable document.
  • Government B/L (GBL): A bill of lading issued by the U.S. government.
  • Hitchment B/L: B/L covering parts of a shipment which are loaded at more than one location. Hitchment B/L usually consists of two parts, hitchment and hitchment memo. The hitchment portion usually covers the majority of a divided shipment and carries the entire revenue.
  • House B/L: B/L issued by a freight forwarder or consolidator covering a single shipment containing the names, addresses and specific description of the goods shipped.
  • Intermodal B/L: B/L covering cargo moving via multimodal means. Also known as Combined Transport B/L, or Multimodal B/L.
  • Long Form B/L: B/L form with all Terms & Conditions written on it.Most B/L's are short form which incorporate the long form clauses by reference.
  • Memo B/L: Unfreighted B/L with no charges listed.
  • Military B/L: B/L issued by the U.S. military; also known as GBL, or Form DD1252.
  • B/L Numbers: U.S. Customs' standardized B/L numbering format to facilitate elec-tronic communications and to make each B/L number unique.
  • Negotiable B/L: The B/L is a title document to the goods, issued "to the order of" a party, usually the shipper, whose endorsement is required to effect is negotiation.Thus, a shipper's order (negotiable) B/L can be bought, sold, or traded while goods are in transit and is commonly used for letter-of-credit transactions. The buyer must submit the origi- nal B/L to the carrier in order to take possession of the goods.
  • Non-egotiable B/L: See Straight B/L. Sometimes means a file copy of a B/L. Onboard B/L: B/L validated at the time of loading to transport. Onboard Air, Box-car, Container, Rail, Truck and Vessel are the most common types.
  • Optional Discharge B/L: B/L covering cargo with more than one discharge point op- tionpossibility.
  • "Order" B/L: See Negotiable B/L.
  • Original B/L: The part of the B/L set that has value, especially when negotiable; rest of set are only informational file copies. Abbreviated as OBL.
  • Received for Shipment B/L: Validated at time cargo is received by ocean carrier to com-mence movement but before being validated as "Onboard".
  • Reconciled B/L: B/L set which has completed a prescribed number of edits between the shipper's instructions and the actual shipment received. This produces a very accurate B/L.
  • Short Term B/L: Opposite of Long Form B/L, a B/L without the Terms & Conditions written on it. Also known as a Short Form B/L. The terms are incorporated by reference to the long form B/L.
  • Split B/L: One of two or more B/L's which have been split from a single B/L.
  • Stale B/L: A late B/L; in banking, a B/L which has passed the time deadline of the Letter of Credit (L/C) and is void.
  • Straight (Consignment) B/L: Indicates the shipper will deliver the goods to the con- signee.It does not convey title (non-negotiable).Most often used when the goods have been prepaid.
  • "To Order" B/L: See Negotiable B/L.
  • Unique B/L Identifier: U.S.Customs' standardization:four-alpha code unique to each carrier placed in front of nine digit B/L number; APL's unique B/L Identifier is "APLU".Sea-land uses "SEAU".These prefixes are also used as the container identification.
  • Voided B/L: Related to Consolidated B/L; those B/L's absorbed in the combining pro-cess. Different from Canceled B/L.

  • Bill of Lading Port of Discharge

    Port where cargo is discharged from means of transport.

    Bill of Sale

    Confirms the transfer of ownership of certain goods to another person in return for money paid or loaned.
     

    Bill to Party

    Customer designated as party paying for services.

    Billed Weight

    The weight shown in a waybill and freight bill, i.e, the invoiced weight.

    BIMCO

    The Baltic and International Maritime Council, the world's largest private shipping organization.

    Blanket Bond

    A bond covering a group of persons, articles or properties.

    Blanket Rate

    - A rate applicable to or from a group of points.
    - A special rate applicable to several different articles in a single shipment.

     
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