Commercial Invoice
A document which details the transaction between a seller and a buyer. It minimally should give the name and address of the seller and of the buyer, the date of the sale, a description of the goods sold, the quantity, the unit price, the terms of sale, and the total money amount due. If it is an invoice between buyer and seller of different countries it should also indicate the kind of currency.
Commercial Letter of Credit
An instrument by which a bank substitutes its credit for that of a customer to enable him to finance the purchase of goods or to incur other commitments. The bank issues a letter (or document) on behalf of its client to a supplier and agrees to pay them upon presentation of documentary evidence that the supplier has performed in accordance with the terms of the letter of credit.
Confirming Bank
A bank which engages to honor a letter of credit issued by another, or engages that such letter of credit will be honored by the issuer or by a third bank.
Consolidation
1. In transportation, the combining of smaller shipments into a single shipment that is sent to a destination point.
2.The reorganization of corporations to combine two or more into a successor corporation.
Consolidator
A company that provides freight consolidation services.
Container
A reusable, rigid, exterior "box" in which merchandise is shipped by air, vessel, truck, or rail.
Container Freight Charge
Charge made for the packing or unpacking of cargo from ocean freight containers.
Container Load
A shipment of cargo that, according to weight or volume, will fit a standard container.
Container on Flatcar
A container without wheels put on railcars for transport inland,
Container Part Load
A shipment of cargo that according to weight or volume will not fill a standard container on its own but is expected to be shipped in a container, if necessary with other shipments which are also too small to take up a full container themselves. Also referred to as “LCL”.
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