Glossary

A brokerage fee is a charge imposed by a broker or brokerage firm for facilitating services such as executing trades or providing research and trading platforms.In customs and logistics, a...

A barge is a flat-bottomed, non-self-propelled vessel primarily used for transporting goods via inland waterways such as rivers and canals. Because it lacks an engine, a barge must be towed...

A Binding Tariff Information (BTI) decision is an official classification of goods issued by the Taxation and Customs Union of the European Union (EU). This written decision assigns a specific...

Blank sailing, also called void sailing, refers to a scheduled ocean freight sailing that the carrier cancels. This cancellation may involve skipping one or more ports on the route or...

A blind shipment is a logistics arrangement where the consignee (the recipient of the goods) does not know the shipper's identity. This method is commonly used by distributors or third-party...

The Bunker Adjustment Factor (BAF) is a fuel surcharge added to ocean freight shipping rates to offset fluctuations in marine fuel prices. Ocean carriers apply BAF on a per-container basis...