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Glossary
Glossary of Terms
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FEU

Forty foot equivalent unit (container).

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FHEX

Fridays, holidays, excepted.

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FHINC

Fridays, holidays, included.

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FIO

Free In and Out.

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FIOS

Free In and Out Stowed.

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FIOT

Free In and Out Trimmed.

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FLT

Full Liner Terms.

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Force Majeure

The title of a common clause in contracts, exempting parties for non-fulfillment of obligations as the result of conditions beyond their control such as earthquakes, floods or war.

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FOT

Free On Truck.

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Free On Board (FOB, International Use)

An International Term of Sale that means that the seller fulfils his obligation to deliver when the cargo has passed the ship's rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss or damage to the cargo from that point. The FOB term requires the seller to clear the goods for export. The buyer contracts and pays for carriage.

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Free Out (FO)

Cost of unloading a vessel is borne by the charterer.

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FW

Fresh Water.

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