| LOGISTICS DICTIONARY |
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| [B] B/L Abbreviation for "Bill of Lading." Backhaul To haul a shipment back over part of a route it has traveled. BAF Abbreviation for "Bunker Adjustment Factor." Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF. Balloon Freight Light, bulky articles. Bank Guarantee Guarantee issued by a bank to a carrier to be used in lieu of lost or misplaced original negotiable bill of lading. Barratry An act committed by the master or mariners of a vessel, for some unlawful or fraudulent purpose, contrary to their duty to the owners, whereby the latter sustain injury. It may include negligence, if so gross as to evidence fraud. Barrel (BBL) A term of measure referring to 42 gallons of liquid at 60o F. Base Rate A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate. BB Ballast Bonus (Special payment above the Chartering price when the ship has to sail a long way on ballast to reach the loading port.) BCO Abbreviation for "Beneficial Cargo Owner." Refers to the importer of record, who physically takes possession of cargo at destination and does not act as a third party in the movement of such goods. Beam The width of a ship. Belt Line A switching railroad operating within a commercial area. Beneficiary Entity to whom money is payable. Berth Terms Shipped under rate that includes cost from end of ship's tackle at load port to end of ship's tackle at discharge port. Beyond Used with reference to charges assessed for cargo movement past a line-haul terminating point. Bilateral A contract term meaning both parties agree to provide something for the other. Bill of Exchange In the United States, commonly known as a "Draft." However, bill of exchange is the correct term. Bill of Lading Multi-use documents that are essential to conduct the day-to-day operations when transportation of supplies, materials, and personal property is required. These primary documents are used to procure freight and express transportation and related services from commercial carriers, including freight forwarders. Bill of Lading Port of Discharge Port where cargo is discharged from means of transport. Bill of Sale Confirms the transfer of ownership of certain goods to another person in return for money paid or loaned. Bill to Party Customer designated as party paying for services. |