by Danya Rielly | Dec 13, 2022 | Glossary
GLOSSARY IOR: Importer of Record What does IOR stand for in logistics? What’s an importer of record? The party responsible and accountable for ensuring that imported commodities abide by all laws and customs regulations in the import nation is the importer of...
by Danya Rielly | Nov 23, 2022 | Glossary
GLOSSARY Harmonized Tariff Schedule The Harmonized Tariff Schedule (HTS) is a classification system used by customs authorities to determine the rate of duty that will be applied to cargo being shipped internationally. The HTS consists of two parts: the base rate and...
by Danya Rielly | Nov 23, 2022 | Glossary
GLOSSARY FTL: Full Truckload What does full truckload mean? FTL trucking, or full truckload, is a transportation mode where cargo is transported in a truck trailer that has been fully loaded. This means that the trailer is carrying as much freight as it can hold,...
by Danya Rielly | Nov 22, 2022 | Glossary
GLOSSARY Demurrage Demurrage is a charge payable to the owner of a chartered ship in respect of failure to load or discharge the ship within the time agreed. Ready to digitize and modernize your shipping operations?See how Magaya can help. SCHEDULE A CONSULTATION...
by Danya Rielly | Nov 22, 2022 | Glossary
GLOSSARY ABI: Automated Broker Interface The Automated Broker Interface (ABI) is an electronic data interchange system that allows for the efficient exchange of information between customs brokers and the U.S. Customs and Border Protection agency. Ready to digitize...
by Danya Rielly | Nov 21, 2022 | Glossary
GLOSSARY FCL: Full Container Load In shipping, the abbreviation FCL stands for Full Container Load, a shipment type that does not share a container with other shippers; it takes up the complete container. In an FCL shipment, just one shipper is the owner of all the...
