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F.D.A.

Food and Drug Administration.

F.P.A.

See Free of Particular Average.

Factor

A factor is an agent who will, at a discount (usually five to 8% of the gross), buy receivables.

FAK

Abbreviation for "Freight All Kinds." Usually refers to full container loads of mixed shipments.

False Billing

Misrepresenting freight or weight on shipping documents.

FAS

Abbreviation for "Free Alongside Ship."

FCL

Abbreviation for "Full Container Load."

FD

Abbreviation for "Free Discharge."

Feeder Service

Cargo to/from regional ports are transferred to/from a central hub port for a long-haul ocean voyage.

Feeder Vessel

A short-sea vessel which transfers cargo between a central "hub" port and smaller "spoke" ports.

FEU

Abbreviation for "Forty-Foot Equivalent Units." Refers to container size standard of 40 feet. Two 20-foot containers or TEU's equal one FEU.
 

Fifth Wheel

The semi-circular steel coupling device mounted on a tractor which engages and locks with a chassis semi-trailer.

FIO

See Free In and Out.

Firkin

A capacity measurement equal to one-fourth of a barrel.

Fixed Costs

Costs that do not vary with the level of activity. Some fixed costs continue even if no cargo is carried. Terminal leases, rent and property taxes are fixed costs.

Flat Car

A rail car without a roof and walls.

Flat Rack/Flat Bed Container

A container with no sides and frame members at the front and rear. Container can be loaded from the sides and top.

FMC (F.M.C.)

Federal Maritime Commission. The U.S. Governmental regulatory body responsible for administering maritime affairs including the tariff system, freight forwarder licensing, enforcing the conditions of the Shipping Act and approving conference or other carrier agreements.

FOB

See Free On Board. See also Terms of Sale, FOB.

FOR

Abbreviation for "Free on Rail."

Force Majeure

The title of a common clause in contracts, exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods or war.

Fore and Aft

The direction on a vessel parallel to the center line.

Foreign Sales Corporation

Under U.S. tax law, a corporation created to obtain tax exemption on part of the earnings of U.S. products in foreign markets.Must be set-up as a foreign corporation with an office outside the USA.

Foreign Trade Zone

A free port in a country divorced from Customs authority but under government control. Merchan-dise, except that which is prohibited, may be stored in the zone without being subject to import duty regulations.

Fork Lift

A machine used to pick up and move goods loaded on pallets or skids.

 
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