Logistics Terminology

Select a letter from the alphabet below to view a breakdown of the logistics terminology you may encounter when dealing with Woodland.

A - B - C - D - E - F - G - H - I - K - L - M - N - O - P - R - S - T - U - W - Z

B/L

Abbreviation for "Bill of Lading."

BAF

Abbreviation for "Bunker Adjustment Factor." Used to compensate steamship lines for fluctuating fuel costs. Sometimes called "Fuel Adjustment Factor" or FAF.

Bank Guarantee

Guarantee issued by a bank to a carrier to be used in lieu of lost or misplaced original negotiable bill of lading.

Barratry

An act committed by the master or mariners of a vessel, for some unlawful or fraudulent purpose, contrary to their duty to the owners, whereby the latter sustain injury. It may include negligence, if so gross as to evidence fraud.

Base Rate

A tariff term referring to ocean rate less accessorial charges, or simply the base tariff rate. -->>