Lecture 3: What are the additional terms used in Shipping?
Lecture 3: Ever wondered What are the additional terms used in Shipping? Do you know the difference between Address Commission and Brokerage? Do you know what do the Claims department do in a Shipping Company?
In this video we'll try to answer the following questions:
- (1:09) What are charter party forms?
- (2:05) What are the different types of subjects?
- (4:14) What is brokerage?
- (5:00) What is an address commission?
- (6:10) What is (PDA) Pro forma disbursement account?
- (7:49) What is (FDA) Final disbursement account?
- (8:15) What is (SF) Stowage factor?
- (9:41) What is a Relet Clause?
- (11:53) What is Rider Clause?
- (13:12) What is Time Charter equivalent?
- (14:01) What is “in geographical rotation”?
- (15:06) What is a “ballast bonus”?