Freight Forwarding Terminology
Complete glossary of Freight Forwarding, Logistics and Transportation related terminology.
- ECT
European Container Terminal - Rotterdam.
- EHA
Equipment Handover Agreement. Agreement covering the conditions under which containers may be passed into the custody of shippers/consignees - records the condition of the container.
- EHC
Equipment Handover Charge. Charge for lifting container off local transport and on to the ship at the terminal.
- ETA
Estimated time of arrival
- ETD
Estimated time of departure
- EUC
Expected Unit Cost.
- Euro Pallet
Flat pallet, standard size: 800mm x 1200mm, used within the European Pallet Pool.
- European Pallet Pool
Pool for exchanging standard sized pallets in Europe for cargo handling traffic.
- EVC
Expected Volume and Cost.
- Even Keel
When the draft of a ship fore and aft are the same.
- EXIMBANK
Export-Import Bank (USA). A Federal agency that aids in financing exports of U.S. goods and services through direct loans, loan guarantees, and insurance.
- Expendable Pallet
Pallet which is either by construction or cost to shippers does not required to be returned or accounted for. See also DISPOSABLE PALLET.
Synonyms: Disposable Pallet- Expo DDP
- Export Container Manifest
List of export consignments, in a container or package sequence, relating to a particular vessel containing cargo information as required by the body for whom the list is prepared.
- Express Waybill
See OCEAN WAYBILL.
- EXW
Ex Works. A trading term used in the sale of goods to denote that the price includes only the cost of the product at the warehouse/factory gates before any transport costs are included. (In USA this is normally referred to as FOB. )
In Ex Works, the seller/exporter/manufacturer merely makes the goods available to the buyer at the seller's "named place" of business. This trade term places the greatest responsibility on the buyer and minimum obligations on the seller. The seller does not clear the goods for export and does not load the goods onto a truck or other transport vehicle at the named place of departure.
The parties to the transaction, however, may stipulate that the seller be responsible for the costs and risks of loading the goods onto a transport vehicle. Such a stipulation must be made within the contract of sale.
If the buyer cannot handle export formalities the Ex Works term should not be used. In such a case Free Carrier (FCA) is recommended.
The Ex Works ter is often used when making an initial quotation for the sale of goods. It represents the cost of the goods without any other costs included.
Normal payment terms for Ex Works transactions are generally cash in advance and open account.