Freight Rate Negotiation
Expert-defined terms from the Global Certificate in Ship Chartering and Cargo Operations (United Kingdom) (Part II) course at HealthCareCourses (An LSIB brand). Free to read, free to share, paired with a professional course.
A/B Term refers to a chartering term where a vessel is chartered for a sp… #
In Freight Rate Negotiation, the A/B term is used to calculate the freight rate, taking into account the cargo density and the ship's capacity. Addendum is a document or clause that is added to a charter party agreement to provide additional terms or conditions, which can include details such as cargo handling procedures or freight payment terms. In the context of Ship Chartering, an addendum can be used to modify or supplement the original charter party agreement, and it is often used to address specific requirements or concerns of the shipowner or charterer. Affreightment is a contract between a shipowner and a charterer where the shipowner agrees to transport a specified quantity of cargo at a fixed freight rate, with the charterer having the option to cancel the contract if the shipowner fails to perform. In Chartering operations, affreightment is used to provide a guarantee of cargo transportation, and it is often used in conjunction with other chartering terms, such as the A/B term. Agency Fee is a payment made to a ship agent or broker for their services in negotiating a charter party agreement or handling the logistics of a shipment. The agency fee can vary depending on the type of service provided and the terms of the charter party agreement, and it is often calculated as a percentage of the total freight rate. Alongside Ship refers to a location where a vessel is positioned alongside a dock, pier, or other structure, and it is used to facilitate the loading or unloading of cargo. In Ship Chartering, alongside ship is an important consideration in determining the freight rate and the terms of the charter party agreement. Arbitration Clause is a provision in a charter party agreement that requires disputes between the shipowner and charterer to be resolved through arbitration, rather than litigation. The arbitration clause can specify the procedures and rules for arbitration, and it is often used to provide a more efficient and cost-effective means of resolving disputes. Arrival Notice is a notification provided by the shipowner or charterer to the other party, indicating the estimated time of arrival of the vessel at the port of loading or discharge. The arrival notice is used to facilitate the planning and coordination of cargo operations, and it is often provided in accordance with the terms of the charter party agreement. B/L Terms refer to the conditions and requirements specified in a bill of lading, which is a document that serves as a receipt for cargo and a contract for its transportation. The B/L terms can include details such as the cargo description, weight, and measurement, as well as the freight rate and payment terms. Ballast Leg refers to a voyage or journey made by a vessel without cargo, often for the purpose of repositioning the vessel or maintaining its stability. In Ship Chartering, ballast leg is an important consideration in determining the freight rate and the terms of the charter party agreement. Bareboat Charter is a type of charter party agreement where the charterer has complete control over the vessel and is responsible for its operation, maintenance, and crewing. The bareboat charter is often used for longer-term charters, and it provides the charterer with flexibility and autonomy in the use of the vessel. Berth Terms refer to the conditions and requirements specified for a vessel's use of a berth or docking facility, including details such as the duration of stay, cargo handling procedures, and payment terms. The berth terms can vary depending on the port and the type of cargo being handled, and they are often negotiated as part of the charter party agreement. Bill Of Lading is a document that serves as a receipt for cargo and a contract for its transportation, and it is used to specify the terms and conditions of the shipment. The bill of lading can include details such as the cargo description, weight, and measurement, as well as the freight rate and payment terms. Bunker Adjustment Factor is a formula or mechanism used to adjust the freight rate to reflect changes in fuel prices or other operating costs. The bunker adjustment factor is often used in charter party agreements to provide a means of adjusting the freight rate in response to fluctuations in fuel costs. Bunker Surcharge is an additional charge or fee imposed by the shipowner or charterer to reflect changes in fuel prices or other operating costs. The bunker surcharge can be calculated as a percentage of the total freight rate, and it is often used to provide a means of adjusting the freight rate in response to fluctuations in fuel costs. C/P Terms refer to the conditions and requirements specified in a charter party agreement, including details such as the cargo quantity and type, freight rate, and payment terms. The C/P terms can vary depending on the type of charter and the parties involved, and they are often negotiated and agreed upon before the commencement of the charter. Call Fee is a payment made to a ship agent or broker for their services in arranging a port call or handling the logistics of a shipment. The call fee can vary depending on the type of service provided and the terms of the charter party agreement, and it is often calculated as a percentage of the total freight rate. Cargo Handling refers to the process of loading, stowing, and discharging cargo from a vessel, and it is an important consideration in determining the freight rate and the terms of the charter party agreement. Cargo Insurance is a type of insurance that provides coverage for cargo against loss or damage during transportation, and it is often required by the charterer or shipowner as a condition of the charter party agreement. Cargo Survey refers to the process of inspecting and verifying the quantity, quality, and condition of cargo, and it is often used to determine the freight rate and to resolve disputes. Carriage Of Goods By Sea Act is a legislation that regulates the carriage of goods by sea and provides a framework for the rights and obligations of shipowners and charterers. The Carriage of Goods by Sea Act can vary depending on the country and jurisdiction, and it is often used to provide a basis for resolving disputes and determining the terms of the charter party agreement. Census Based Freight Rate refers to a freight rate that is calculated based on the cargo quantity and type, as well as the ship's capacity and operating costs. The census-based freight rate is often used in conjunction with other chartering terms, such as the A/B term, to provide a more accurate and efficient means of determining the freight rate. Certificate Of Origin is a document that certifies the country of origin of the cargo, and it is often required by customs or other regulatory authorities. The certificate of origin can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Charter Party Agreement is a contract between a shipowner and a charterer that specifies the terms and conditions of the charter, including details such as the cargo quantity and type, freight rate, and payment terms. The charter party agreement can vary depending on the type of charter and the parties involved, and it is often negotiated and agreed upon before the commencement of the charter. Charter Rate is the rate at which a vessel is chartered, and it can be expressed in terms of a daily or monthly rate, or as a lump sum payment. The charter rate can vary depending on the type of vessel, its capacity, and the terms of the charter party agreement, and it is often used to determine the freight rate and the profitability of the charter. Charterer Is the party that hires a vessel from a shipowner for a specific period or voyage, and it is responsible for paying the freight rate and complying with the terms of the charter party agreement. The charterer can be a shipper, exporter, or other party that requires the use of a vessel for the transportation of cargo. Chartering Broker is an intermediary that negotiates charter party agreements on behalf of shipowners and charterers, and it provides a range of services, including market research, vessel selection, and contract negotiation. The chartering broker can earn a commission or fee for their services, and they often have expertise and knowledge of the shipping market and chartering practices. Clean Bill Of Lading is a bill of lading that indicates that the cargo has been shipped in good condition, and it is often used to provide evidence of the cargo's condition at the time of shipment. The clean bill of lading can be used to resolve disputes or claims related to cargo damage or loss, and it is often provided by the shipper or exporter. Commercial Invoice is a document that provides details of the cargo, including its value, quantity, and description, and it is often used for customs clearance and other regulatory purposes. The commercial invoice can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Commodity Exchange refers to a market or exchange where commodities are traded, and it can include physical commodities such as oil, gas, or agricultural products. The commodity exchange can provide a platform for buyers and sellers to negotiate prices and terms, and it is often used to determine the value and price of commodities. Conference Line is a group of shipping lines that operate together to provide a coordinated service, and it can include agreements on freight rates, schedules, and other operating conditions. The conference line can provide a more efficient and competitive service, and it is often used to promote cooperation and coordination among shipping lines. Congestion Surcharge is an additional charge or fee imposed by the shipowner or charterer to reflect delays or congestion at ports or other loading or discharge facilities. The congestion surcharge can be calculated as a percentage of the total freight rate, and it is often used to provide a means of adjusting the freight rate in response to delays or disruptions. Consignment Note is a document that provides details of the cargo, including its quantity, description, and value, and it is often used for customs clearance and other regulatory purposes. The consignment note can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Container Demurrage refers to the charges or fees imposed for the use of containers beyond the free time allowed, and it can include charges for storage, handling, and other services. The container demurrage can be calculated as a daily or hourly rate, and it is often used to provide a means of adjusting the freight rate in response to delays or disruptions. Container Freight Station is a facility that provides container handling and storage services, and it can include equipment and personnel for loading, unloading, and transferring containers. The container freight station can be used to provide a more efficient and convenient service, and it is often located near ports or other transportation hubs. Contract Of Affreightment is a contract between a shipowner and a charterer that specifies the terms and conditions of the charter, including details such as the cargo quantity and type, freight rate, and payment terms. The contract of affreightment can vary depending on the type of charter and the parties involved, and it is often negotiated and agreed upon before the commencement of the charter. Customs Broker is an intermediary that assists with customs clearance and other regulatory procedures, and it can provide a range of services, including documentation, compliance, and logistics. The customs broker can earn a commission or fee for their services, and they often have expertise and knowledge of customs regulations and procedures. Dead Freight refers to the freight or cargo that is not actually carried or transported, but is included in the calculation of the freight rate, and it can include empty containers or other equipment. The dead freight can be used to provide a more accurate and efficient means of determining the freight rate, and it is often used in conjunction with other chartering terms, such as the A/B term. Deadweight Tonnage refers to the maximum weight of cargo that a vessel can carry, and it is often used to determine the freight rate and the capacity of the vessel. The deadweight tonnage can vary depending on the type of vessel and its design, and it is often used to provide a basis for calculating the freight rate and other charges. Demurrage Charges refer to the charges or fees imposed for the use of a vessel or other equipment beyond the free time allowed, and it can include charges for storage, handling, and other services. The demurrage charges can be calculated as a daily or hourly rate, and it is often used to provide a means of adjusting the freight rate in response to delays or disruptions. Despatch Money is a payment or incentive provided to the charterer or shipowner for loading or discharging cargo quickly, and it can be used to promote efficiency and productivity. The despatch money can be calculated as a percentage of the total freight rate, and it is often used to provide a means of adjusting the freight rate in response to performance or efficiency. Deviation Clause is a provision in a charter party agreement that allows the vessel to deviate from its intended route or schedule, and it can include details such as the circumstances under which deviation is permitted and the consequences of deviation. The deviation clause can be used to provide flexibility and adaptability in the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Direct Charter is a charter party agreement where the charterer hires a vessel directly from the shipowner, without the use of a broker or other intermediary. The direct charter can provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. Disbursement Account is an account that is used to pay for expenses and charges related to the charter party agreement, and it can include details such as fuel, provisions, and other operating costs. The disbursement account can be used to provide a more transparent and accountable means of managing expenses and charges, and it is often provided by the shipowner or charterer. Dispatch Time refers to the time allowed for loading or discharging cargo, and it can include details such as the free time allowed and the rate of dispatch. The dispatch time can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Draft Survey refers to the process of measuring the draft or depth of a vessel, and it is often used to determine the cargo capacity and the freight rate. The draft survey can be used to provide a more accurate and efficient means of determining the freight rate, and it is often used in conjunction with other chartering terms, such as the A/B term. Dry Cargo refers to cargo that is not liquid or bulk, and it can include commodities such as grains, coal, or containers. The dry cargo can be used to determine the freight rate and the terms of the charter party agreement, and it is often handled and transported differently than liquid or bulk cargo. Economies Of Scale refer to the cost advantages that can be achieved by chartering a larger vessel or increasing the cargo quantity, and it can include details such as reduced freight rates and improved efficiency. The economies of scale can be used to provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. FCL Freight refers to freight that is shipped in full containers, and it can include details such as the container size and type, as well as the cargo quantity and description. The FCL freight can be used to provide a more efficient and convenient means of shipping cargo, and it is often used for larger or more complex shipments. Feeder Vessel refers to a smaller vessel that is used to feed or transfer cargo to a larger vessel, and it can include details such as the vessel size and type, as well as the cargo quantity and description. The feeder vessel can be used to provide a more efficient and convenient means of shipping cargo, and it is often used for shorter or more complex voyages. FIATA Document is a document that is used to provide details of the cargo, including its quantity, description, and value, and it is often used for customs clearance and other regulatory purposes. The FIATA document can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Fixture Receipt is a document that confirms the terms and conditions of a charter party agreement, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The fixture receipt can be used to provide a more transparent and accountable means of managing the charter party agreement, and it is often provided by the shipowner or charterer. Freight Broker is an intermediary that negotiates freight rates and terms on behalf of shippers and carriers, and it can provide a range of services, including market research, carrier selection, and contract negotiation. The freight broker can earn a commission or fee for their services, and they often have expertise and knowledge of the shipping market and freight practices. Freight Forwarder is an intermediary that provides a range of services related to freight transportation, including documentation, customs clearance, and logistics. The freight forwarder can earn a commission or fee for their services, and they often have expertise and knowledge of the shipping market and freight practices. Freight Rate Negotiation refers to the process of negotiating the freight rate and terms of a charter party agreement, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The freight rate negotiation can be used to provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. General Average refers to a method of calculating the average value of cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The general average can be used to provide a more accurate and efficient means of determining the freight rate, and it is often used in conjunction with other chartering terms, such as the A/B term. General Charter is a charter party agreement that is not specific to a particular voyage or cargo, and it can include details such as the cargo type and quantity, freight rate, and payment terms. The general charter can provide a more flexible and adaptable means of chartering a vessel, and it is often used by smaller or less experienced charterers. Gross Tonnage refers to the total weight of a vessel, including its cargo, fuel, and other equipment, and it can be used to determine the freight rate and the capacity of the vessel. The gross tonnage can vary depending on the type of vessel and its design, and it is often used to provide a basis for calculating the freight rate and other charges. Hague Rules refer to a set of rules and regulations that govern the carriage of goods by sea, and it can include details such as the rights and obligations of shipowners and charterers, as well as the procedures for resolving disputes. The Hague rules can provide a more efficient and cost-effective means of resolving disputes, and it is often used to provide a basis for determining the terms of the charter party agreement. Hamburg Rules refer to a set of rules and regulations that govern the carriage of goods by sea, and it can include details such as the rights and obligations of shipowners and charterers, as well as the procedures for resolving disputes. The Hamburg rules can provide a more efficient and cost-effective means of resolving disputes, and it is often used to provide a basis for determining the terms of the charter party agreement. Heavy-Lift Ship refers to a vessel that is designed to carry heavy or oversized cargo, and it can include details such as the vessel size and type, as well as the cargo quantity and description. The heavy-lift ship can provide a more efficient and convenient means of shipping heavy or oversized cargo, and it is often used for complex or specialized shipments. Hire Rate refers to the rate at which a vessel is hired or chartered, and it can include details such as the daily or monthly rate, as well as the terms and conditions of the charter party agreement. The hire rate can vary depending on the type of vessel, its capacity, and the terms of the charter party agreement, and it is often used to determine the freight rate and the profitability of the charter. Intermodal Transportation refers to the use of multiple modes of transportation, such as sea, land, and air, to transport cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The intermodal transportation can provide a more efficient and cost-effective means of shipping cargo, and it is often used for complex or specialized shipments. ISM Code refers to a set of rules and regulations that govern the safety and security of vessels, and it can include details such as the requirements for vessel design, equipment, and operation, as well as the procedures for resolving disputes. The ISM code can provide a more efficient and cost-effective means of ensuring vessel safety and security, and it is often used to provide a basis for determining the terms of the charter party agreement. LCL Freight refers to freight that is shipped in less than full containers, and it can include details such as the container size and type, as well as the cargo quantity and description. The LCL freight can provide a more efficient and convenient means of shipping cargo, and it is often used for smaller or less complex shipments. Laycan Period refers to the period of time during which a vessel is available for charter, and it can include details such as the start and end dates, as well as the terms and conditions of the charter party agreement. The laycan period can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Laydays Allowed refers to the time allowed for loading or discharging cargo, and it can include details such as the free time allowed and the rate of dispatch. The laydays allowed can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Letter Of Credit is a document that provides a guarantee of payment for cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The letter of credit can be used to provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Liability Insurance is a type of insurance that provides coverage for liability or damages arising from the transportation of cargo, and it can include details such as the scope of coverage, the limits of liability, and the procedures for making claims. The liability insurance can provide a more secure and reliable means of managing risk, and it is often used in conjunction with other chartering terms, such as the A/B term. Liner Terms refer to the conditions and requirements specified for a liner or scheduled service, and it can include details such as the freight rate, cargo handling procedures, and payment terms. The liner terms can vary depending on the type of service and the parties involved, and it is often used to provide a more efficient and convenient means of shipping cargo. Load Port refers to the port where cargo is loaded onto a vessel, and it can include details such as the port facilities, cargo handling procedures, and payment terms. The load port can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Logistics Provider is a company or organization that provides a range of services related to freight transportation, including documentation, customs clearance, and warehousing. The logistics provider can earn a commission or fee for their services, and they often have expertise and knowledge of the shipping market and freight practices. Manifest Document is a document that provides details of the cargo, including its quantity, description, and value, and it is often used for customs clearance and other regulatory purposes. The manifest document can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Marine Insurance is a type of insurance that provides coverage for marine-related risks, such as cargo damage or loss, and it can include details such as the scope of coverage, the limits of liability, and the procedures for making claims. The marine insurance can provide a more secure and reliable means of managing risk, and it is often used in conjunction with other chartering terms, such as the A/B term. Master Charter is a charter party agreement that is negotiated and agreed upon by the shipowner and charterer, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The master charter can provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. Merchant Haul refers to the distance or route that a vessel travels, and it can include details such as the ports of call, the cargo quantity and description, and the freight rate and payment terms. The merchant haul can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Minimum Freight refers to the minimum amount of freight that must be shipped in order to qualify for a particular freight rate or discount, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The minimum freight can be used to provide a more efficient and cost-effective means of shipping cargo, and it is often used for smaller or less complex shipments. Multi-Modal Transportation refers to the use of multiple modes of transportation, such as sea, land, and air, to transport cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The multi-modal transportation can provide a more efficient and cost-effective means of shipping cargo, and it is often used for complex or specialized shipments. Navigation Charge is a charge or fee imposed for the use of navigational facilities or services, and it can include details such as the charge or fee amount, as well as the procedures for payment. The navigation charge can be used to provide a more efficient and convenient means of shipping cargo, and it is often used in conjunction with other chartering terms, such as the A/B term. Negotiable Bill Of Lading is a bill of lading that can be transferred or negotiated, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The negotiable bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Nomination Form is a document that provides details of the cargo, including its quantity, description, and value, and it is often used for customs clearance and other regulatory purposes. The nomination form can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Non-negotiable Bill Of Lading is a bill of lading that cannot be transferred or negotiated, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The non-negotiable bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Notice Of Readiness is a notification provided by the shipowner or charterer to the other party, indicating that the vessel is ready to load or discharge cargo. The notice of readiness can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Ocean Bill Of Lading is a bill of lading that is used for international shipments, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The ocean bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. On-Board Bill Of Lading is a bill of lading that indicates that the cargo is on board the vessel, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The on-board bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Open Charter is a charter party agreement that is not specific to a particular voyage or cargo, and it can include details such as the cargo type and quantity, freight rate, and payment terms. The open charter can provide a more flexible and adaptable means of chartering a vessel, and it is often used by smaller or less experienced charterers. Owner's Charter is a charter party agreement that is negotiated and agreed upon by the shipowner and charterer, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The owner's charter can provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. Owner's Agent is a person or company that represents the interests of the shipowner, and it can include details such as the agent's authority, responsibilities, and fees. The owner's agent can provide a more efficient and convenient means of managing the charter party agreement, and it is often used in conjunction with other chartering terms, such as the A/B term. Parcel Charter is a charter party agreement that is negotiated and agreed upon by the shipowner and charterer, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The parcel charter can provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. Part Charter is a charter party agreement that is negotiated and agreed upon by the shipowner and charterer, and it can include details such as the cargo quantity and type, freight rate, and payment terms. The part charter can provide a more efficient and cost-effective means of chartering a vessel, and it is often used by larger or more experienced charterers. Payload Tonnage refers to the weight of cargo that a vessel can carry, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The payload tonnage can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Per Diem refers to a daily rate or charge, and it can include details such as the rate or charge amount, as well as the procedures for payment. The per diem can be used to provide a more efficient and convenient means of shipping cargo, and it is often used in conjunction with other chartering terms, such as the A/B term. Performance Clause is a provision in a charter party agreement that requires the shipowner or charterer to perform certain obligations or duties, and it can include details such as the scope of the obligation, the timing, and the consequences of non-performance. The performance clause can provide a more secure and reliable means of managing the charter party agreement, and it is often used in conjunction with other chartering terms, such as the A/B term. Pilotage Charge is a charge or fee imposed for the use of pilotage services, and it can include details such as the charge or fee amount, as well as the procedures for payment. The pilotage charge can be used to provide a more efficient and convenient means of shipping cargo, and it is often used in conjunction with other chartering terms, such as the A/B term. Port Charge is a charge or fee imposed for the use of port facilities or services, and it can include details such as the charge or fee amount, as well as the procedures for payment. The port charge can be used to provide a more efficient and convenient means of shipping cargo, and it is often used in conjunction with other chartering terms, such as the A/B term. Port Of Loading is the port where cargo is loaded onto a vessel, and it can include details such as the port facilities, cargo handling procedures, and payment terms. The port of loading can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Pre-Advice is a notification or advice provided by the shipowner or charterer to the other party, indicating the estimated time of arrival or departure of the vessel. The pre-advice can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Proforma Invoice is a document that provides details of the cargo, including its quantity, description, and value, and it is often used for customs clearance and other regulatory purposes. The proforma invoice can be used to determine the applicability of tariffs or other trade restrictions, and it is often provided by the shipper or exporter. Quay hire refers to the charge or fee imposed for the use of quay or dock facilities, and it can include details such as the charge or fee amount, as well as the procedures for payment. The quay hire can be used to provide a more efficient and convenient means of shipping cargo, and it is often used in conjunction with other chartering terms, such as the A/B term. Railway Bill Of Lading is a bill of lading that is used for rail shipments, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The railway bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Receivers Order is a document that provides instructions for the delivery of cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The receivers order can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Refrigerated Cargo refers to cargo that requires refrigeration or temperature control, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The refrigerated cargo can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Release Order is a document that provides instructions for the release of cargo, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The release order can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter. Road Bill Of Lading is a bill of lading that is used for road shipments, and it can include details such as the cargo quantity and description, as well as the freight rate and payment terms. The road bill of lading can provide a more secure and reliable means of payment, and it is often used in conjunction with other chartering terms, such as the A/B term. Sailing Notice is a notification or advice provided by the shipowner or charterer to the other party, indicating the estimated time of departure or arrival of the vessel. The sailing notice can be used to determine the freight rate and the terms of the charter party agreement, and it is often negotiated and agreed upon before the commencement of the charter.