Shipping related words and expressions 1

📚 Important Words to Know
bill of lading — a legal document between a shipper and carrier detailing the type, quantity, and destination of goods
customs clearance — the process of passing goods through customs authority to enter or leave a country
freight forwarder — a company or individual that organizes shipments on behalf of exporters or importers
Incoterms — standardized international trade terms defining the responsibilities of buyers and sellers in shipping
FOB (Free on Board) — a shipping term meaning the seller covers costs until goods are loaded onto the transport vessel
CIF (Cost, Insurance, and Freight) — a pricing arrangement where the seller covers cost, insurance, and freight to the destination port
customs duty — a tax imposed on goods when they are transported across international borders
tracking number — a unique identifier assigned to a shipment allowing sender and recipient to monitor its progress
lead time — the time between placing an order and receiving the goods, including production and shipping
last-mile delivery — the final stage of shipping a product from a distribution hub to the end customer's location