Understanding The Lingo
Understanding some of your shipping agents terms and acronyms.
Like all businesses and professions, shipping agents have their own terms and acronyms. When using Shiprite International we want you to understand what were doing and why.
To help you with that, below are a few of the terms and acronyms we use so you can gain a brief understanding and know what we are talking about.
Please note: These terms are intended as a brief guide:
- ACA – Air Cargo Automation
- DDP – Deliver Duty Paid
- C & F – Cost and Freight
- DUMPING – A tariff imposed to discourage sale of foreign goods at less than a fair market price that would be detrimental to local manufacturers
- CIF – Cost, Insurance and Freight
- DO – Delivery Order
- FCL – Full Container Load
- L/C – Letter of Credit
- LCL – Less Than Container Load
- LOLO – Lift On Lift Off
- Consignor – The company or person shown on the bill of lading as the shipper
- Consignee – Name and address of the buyer of the goods
- HS – an international document called the Harmonized Commodity Description and Coding System. Also commonly referred to as the Harmonized System (HS), which is used. by all of Australia’s major trading partners.
- TA – Tariff Advice
- ABN – Australian Business Number
- WTO – Customs determines the value of goods imported into Australia based on the World Trade Organization (WTO) Valuation Agreement. This valuation system is used by most trading nations.
- GST – GST applies to most imported goods. There are few exemptions from the GST, the main ones being certain foodstuffs, some medical aids and appliances and imports that qualify for certain customs duty concessions.
- WET – Wine Equalization Tax
- FOB – Free On Board
- EXW – Ex Works is you paying to get that product to your door, or your seller
- ROO – Rules Of Origin
- LCT – Luxury Car Tax
- AHECC – The Australian Harmonized Export Commodity Classification
- SCA – Sea Cargo Automation
- THC – Terminal Handling Charge
- W/M – Weight or Measure (whichever is greater)
- PSC – Port Service Charge
My Company, Investing in Property, sells to national and International Clients. I have referred many clients to Shiprite International as their services are professional and competitively priced.
Our Company Instant Jungle Palms Nursery has been dealing with Shiprite for 4 years. We found them to be more then helpful and obliging with all importation matters. We found them to be honest and their Integrity is 100% when dealing with importation from Indonesia to Australia. We plan to continue business with Shiprite in years to come.
Shiprite International has provided prompt and accurate advice to us on a consultancy basis. This advice has covered international, trade and financing options, freight, trade marking, customs, and quarantine.
ln every instance, their advice on freight and shipping costs, duties, taxes, insurance etc and their understanding of the applicable law in Australia and other jurisdictions, has been superb.
Shiprite International's broad knowledge of the requirements needed to import containers resulted in a smooth and timely delivery. Shiprite International's public relations skill helped us collate all of the accounts required to ensure a smooth and successful business transaction. We recommend their attention to detail.
Dardanup Butchering Company
Shiprite International have been our Customs and Quarantine Agents. We have found Shiprite International to be honest, knowledgable and approachable in all aspects. It is very comforting to know that once a container leaves its point of origin, it is handled by Shiprite International in a professional manner.
We are a large National and International Food Distribution company located in Brisbane with branches throughout Australia and Worldwide. As an exporter we are required to be Quarantine Approved Premise and comply with Food Standards Australia. Shiprite International made our maneuverings through the documentation a pleasurable experience. We have always been able to rely on Shiprite International.