Bill of Lading (B/L) - Document serving three functions: (1) receipt for cargo prepared by the shipper and signed by the carrier; (2) 'document of title' to the cargo i.e. proof of ownership; and (3) provides evidence of terms and conditions of the contract of carriage of cargo by sea.
C & F / CFR - Cost and Freight - method of selling cargo where seller pays for loading costs and ocean freight.
CIF - Cost, Insurance and Freight - method of selling cargo where seller pays for loading costs, ocean freight and insurance.
Demurrage - financial compensation paid by charterer to the vessel for delays after the laytime has expired at the load/discharge port.
ETA - Estimated Time of Arrival (of vessel).
ETD - Estimated Time of Departure (of vessel).
FOB - Free On Board - method of selling cargo excluding ocean freight and insurance, but including loading costs.
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