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Glossary of terms for phrases beginning with “F”

FAK

Freight of all Kinds

Usually refers to consolidated cargo.


FAS

Free Along Side

For more information, see:

www.iccwbo.org


FCA

Free Carrier

For more information, see:

www.iccwbo.org


FCL

Full Container Load.

Containers are charged a specific rate for ocean transit regardless of their (lack of) contents. A full container will thus offer a better price per unit shipped than will a LCL.


Feeder

Transportation conveyance utilised to relay cargo from the mother vessel to ultimate destination or from first receipt port to mother vessel.


FFE

Forty-foot Equivalent Unit

The standard measurement unit of containerized cargo.


FIFO

Free In Free Out

See also FIO.


FIO

Free In Free Out


Flat Bed

Truck designed to haul heavy or oversized non-containerisable cargo.


Floating Cranes

Heavy duty cranes that are able to handle exceptionally heavy cargo if unable to use conventional gantry cranes.


FMC

Federal Maritime Commission

U.S. Government agency responsible for overseeing regulatory aspects of the Shipping Act.


FOB

Free On Board

For more information, see:

www.iccwbo.org


For-Hire Carriers

Persons or firms engaged in the transportation of goods or passengers for compensation. Classified into two general categories, specialised and general freight motor carriers.


Force Majeure

A state of emergency or condition that permits a company to depart from the strict terms of contract because of an event or effect that cannot be reasonably anticipated or controlled, i.e: beyond human control (French superior or irresistible force).

Compare: ACT OF GOD, INEVITABLE ACCIDENT, VIS MAJOR.


Forwarder’s Cargo Receipt

A non-negotiable document issued by a forwarder which will satisfy the legal requirements of a letter of credit. Since a forwarder is not an NVOCC it cannot issue actual bills of lading. The FCR is legally binding upon the forwarder and is an industry standard.


Free Time

Time allowed for shippers or consignees/receivers to load or unload cargo before demurrage, detention and other charges accrue.


Freight Bill

Destination (Collect) Freight Bill: Prepaid Freight Bill.

(1) Bill rendered by a transportation line to consignee containing description of freight shipper name, point of origin and weight charges (if not prepaid).

(2) Bill rendered by a transportation line to shipper containing description of freight, consignee, destination and weight charges.


Freight Cashier

Responsible for collections of freight/charges/release of cargo/release of bills of ladings.


Freight Forwarder

(1) Person engaged in assembling, collecting, consolidating shipping and distributing less than trailer-load freight.

(2) Also, a person acting as an agent in the transshipping of freight to or from foreign countries and clearing freight through federal customs.


Freight Release

Evidence that the freight charges for the cargo have been paid. If in writing, it may be presented at the pier to obtain release of the cargo. Normally, once the freight is paid, freight releases are arranged without additional documentation. Also known as freight bill receipt.


Full Visible Capacity

The trailer is loaded as full as the nature of the freight and other conditions permit, so that no more of the same type of freight can be loaded, consistent with safety and damage precautions.