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Ho Chi Minh City Port

These Seafood and trading definitions were developed from submissions by members of the Seafood Industry. Please contact us with additional definitions or corrections that we may add to this list. Add new seafood and shipping terms definitions.

Seafood Trading and Shipping Terms

Additional Terms & Deifinitions

A

  • ARLC — Automatic Revolving Letter of Credit. Automatically reinstated and guaranteed successively in the amount of each shipment for a pre-set schedule, as decided between buyer and seller.

  • ASWP — Any Safe World Port.

  • C&F — Cost & Freight.

  • CIF — Cost Insurance & Freight.

  • DLC — Documentary Letter of Credit Issued and guaranteed by the bank for the full amount of the contract, each shipment paid separately.

  • F.O. — Free out.

  • F.O.B. — Free on Board.

  • KTT — Key Tested Telex. Secure way for banks to communicate to each other.

  • LC — Letter of Credit - Method of transfer where the parties' banks stand guarantor to the transaction.

  • PBG — Prime Bank Guarantee used to guarantee payment from a prime bank.

  • RLC — Revolving Letter of Credit issued in the amount of each shipment at a time.

  • SGS — Society General de Surveillance SA - International Commodity Inspection Agency.

  • SHEX — Sundays and Holidays excepted.

  • SHINC — Sundays and Holidays included.

  • SLC — Standby Letter of Credit Issued for the full amount of the contract, but negotiable after all deliveries have been made, Usually for One year and 1 day or 1 week.

  • TT — Telegraphic Transfer - A method of payment where and immediate transfer of funds takes place between two bank accounts.

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