Ocean Freight Forwarders Key Terms

Learn how to forward ocean freight by improving your industry vocabulary

Ocean freight forwarding can affect people providing freight shipping services as well as third party logistics (3PL) providers. Whatever part of the supply chain you fall in, making sure that you are familiar with the ocean freight forwarders key terms so that you communicate with those in the field.

Knowing exactly what you are looking for helps alleviate confusion in the long run and helps open up lines of communication between provider and recipient. Ocean freight forwarders key terms can include locations, documentation, people and more.

 

Third-party logistics (3PL)

Third-party logistics (3PL) is a hired third party to help a company handle the logistics of their supply chain management functions. This company usually helps with the integrated operations, warehousing and transportation solutions.
Try: Keep up on the latest 3PL news and information from 3PLNews.com.

Bonded warehouse

A bonded warehouse is a location where duties are not yet paid on the goods stored. The goods are in the joint custody of the importer (or the agent representing the importer) and the customs officials. Bonded warehouses can be state or privately operated.
Try: Take a look at the bonded warehouse capabilities of Advanced Bonded & Customs Services.

Certificate of origin (C of O)

The certificate of origin (C of O) is used by customs in the destination country to control imported goods from particular countries or in order to identify goods that might qualify for special treatment based on international terms.
Try: Find out more about certificates of origin from Universal Express International.

Customs broker

Customs brokers help clear goods through customs in the countries from which they are shipping or importing. They help prepare documents, calculate taxes and facilitate communication between all parties involved in the shipping process.
Try: Find out more about ocean freight customs broker services from OceanAir Logistics.

Federal Maritime Commission (FMC)

The Federal Maritime Commission (FMC) is an independent federal agency that oversees the regulation of ocean freight in the foreign commerce supply process for the US.
Try: Visit the Federal Maritime Commission website for more information.

Bill of lading (BOL or B/L)

The bill of lading (BOL or B/L) is documentation issued by the carrier to the shipper stating that the goods have been received for transport.
Try: Find out more about ocean freight bills of lading from EXPORT911.

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