When shopping and shipping here are some terms we must familiarize ourselves with:
- ETA. (Estimated, Time of Arrival) In shipping the word “Estimate” or “Estimated” is always used because nothing is 100% sure.
There are weather issues, mechanical issues, Customs issues, Staffing issues, industrial action and many issues could affect the ETA. And thus you will often hear that word “ESTIMATE”.
- ETD. (Estimated, Time of Delivery) similar to above. The Estimated time the Vessel/Aircraft will Depart the destination. Or it could also mean the Estimated Time of Delivery of your item.
- “Estimate” cost. Whenever you call a shipping company for a quote they will ask you for the Measurements (Length, Width, Height of the packaged item) and the weight. This is used to give you an “Estimate”. Again the term estimate is used until they (The shipping company) have it in hand to do their own weight and measurements to give you the actual freight cost.
- FOB PRICE. this price is just the Freight On Board (on board the vessel) price of the package. The price of your items freight and nothing else.
- CIF price. Cost Insurance and Freight.
This is the price customs internationally uses to charge you import Duties. The freight and the insurance are added to the cost of your item to arrive at the Value and duties are then calculated on that price.
There are many terms used in Shipping language and we will continue to share with you so our customers can be smart shoppers and shippers and know exactly what to expect by law.
WeForward FreightMaster continues to do our best to serve you our customers better.