Become a Patron and get help from Pros

3PL

Third Party Logistics - a company that provides logistics services to other companies for some or all of their logistics needs. It typically includes warehousing and transportation services. Most 3PL's also have freight forwarding licenses.

Related Terms

CUSTODY TRANSFER

All Purchases, Sales and Exchanges involving third parties, or separate affiliated companies. Transfers using third party transportation.Transfers between business functions within an affiliate when there are legal, tax or significant product loss considerations.

BCO

Abbreviation for 'Bene cial Cargo Owner.' Refers to the importer of record, who physically takes possession of cargo at destination and does not act as a third party in the movement of such goods.

DIRECT DELIVERY

  1. The conveyance of goods directly from the vendor to the buyer. Frequently used if a third party acts as intermediary agent between vendor and buyer.
  2. Direct discharge from vessel onto railroad car, road vehicle or barge with the purpose of immediate transport from the port area (usually occurs when ports lack adequate storage space or when ports are not equipped to handle a specific cargo).

FREIGHT

The remuneration payable by the charterers to owners, for the carriage of the goods.

MILITARY ENGINEERING

Science, art, and practice involved in design and construction of defensive and offensive military works as well as construction and maintenance of transportation systems.

INTELLIGENT TRANSPORTATION SYSTEMS

The application of advanced technologies to surface transportation problems, including traffic and transportation management, travel demand management, advanced public transportation management, electronic payment, commercial vehicle operations, emergency services management, and advanced vehicle control and safety systems. Previously known as intelligent vehicle highway systems.

IN-PLACE VALUE

The site value of property, that is, the market value of equipment plus costs of transportation to the site and subsequent installation.

FREIGHT RATE

The charge made for the transportation of freight.

VESSEL

Any craft designed for transportation on water, such as a ship or boat.

TI

Transportation institute, a non-profit organization devoted to maritime research and education.

Related questions

MarineProHelp 2018 - 2021