| LOGISTICS DICTIONARY |
 |
 |
| To go back to the main page, click here: |
| To go to the next page, click here: |
 |
| [F] F.D.A. Food and Drug Administration. F.P.A. See "Free of Particular Average." Factor A factor is an agent who will, at a discount (usually five to 8% of the gross), buy receivables. FAK Abbreviation for "Freight All Kinds." Usually refers to full container loads of mixed shipments. False Billing Misrepresenting freight or weight on shipping documents. FAS Abbreviation for "Free Alongside Ship." FCL Abbreviation for "Full Container Load." FD Abbreviation for "Free Discharge." Feeder Service Cargo to/from regional ports are transferred to/from a central hub port for a long-haul ocean voyage. Feeder Vessel A short-sea vessel which transfers cargo between a central "hub" port and smaller "spoke" ports. FEU Abbreviation for "Forty-Foot Equivalent Units." Refers to container size standard of forty feet. Two twenty-foot containers or TEU's equal one FEU. Fifth Wheel The semi-circular steel coupling device mounted on a tractor which engages and locks with a chassis semi-trailer. FIO See Free In and Out. Firkin A capacity measurement equal to one-fourth of a barrel. Fixed Costs Costs that do not vary with the level of activity. Some fixed costs continue even if no cargo is carried. Terminal leases, rent and property taxes are fixed costs. Flat Car A rail car without a roof and walls. Flat Rack/Flat Bed Container A container with no sides and frame members at the front and rear. Container can be loaded from the sides and top. FMC (F.M.C.) Federal Maritime Commission. The U.S. Governmental regulatory body responsible for administering maritime affairs including the tariff system, Freight Forwarder Licensing, enforcing the conditions of the Shipping Act and approving conference or other carrier agreements. FOB See Free On Board. See also Terms of Sale, FOB. FOB Freight Allowed the same as FOB named inland carrier, except the buyer pays the transportation charge and the seller reduces the invoice by A like amount. FOB Freight Prepaid the same as FOB named inland carrier, except the seller pays the Freight charges of the inland carrier. FOB named point of Exportation seller is responsible FOR the cost of placing the goods at A named point of exportation. Some European buyers use This Form when they actually mean FOB vessel. FOB vessel seller is responsible FOR goods and preparation of export documentation until actually placed aboard the vessel. |