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Glossary of Shipping Terms
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RFP – Request for Proposal
RFQ – Request for quotation.
RVNX – Abbreviation for "Released Value Not Exceeding." Usually used to limit the value of goods transported. The limitation refers to carrier liability when paying a claim for lost or damaged goods.
Rag Top – A slang term for an open-top trailer or container with a tarpaulin cover.
Rail Division – The amount of money an ocean carrier pays to the railroad for overland carriage.
Rail Grounding – The time that the container was discharged (grounded) from the train.
Ramp-to-Door – A movement where the load initiates at an origin rail ramp and terminates at a consignee's door.
Ramp-to-Ramp – A movement of equipment from an origin rail ramp to a destination rail ramp only.
Ramp – Railroad terminal where containers are received or delivered and trains loaded or discharged. Originally, trailers moved onto the rearmost flatcar via a ramp and driven into position in a technique known as "circus loading." Most modern rail facilities use lifting equipment to position containers onto the flatcars.
Rate Basis – A formula of the specific factors or elements that control the making of a rate. A rate can be based on any number of factors (i.e., weight, measure, equipment type, package, box, etc.).
Reasonableness – Under ICC and common law, the requirement that a rate not be higher than is necessary to reimburse the carrier for the actual cost of transporting the traffic and allow a fair profit.
Rebate – An illegal form of discounting or refunding that has the net effect of lowering the tariff price. See also Malpractice.
Received for Shipment B/L: – - Validated at time cargo is received by ocean carrier to commence movement but before being validated as "Onboard".
Reconciled B/L: – - B/L set which has completed a prescribed number of edits between the shipper's instructions and the actual shipment received. This produces a very accurate B/L.
Reconsignment – Changing the consignee or destination on a bill of lading while shipment is still in transit. Diversion has substantially the same meaning.
Recourse – A right claim against the guarantors of a loan or draft or bill of exchange.
Red Label – A label required on shipments of flammable articles.
Reefer – Refrigerated container.
Related Points – A group of points to which rates are made the same as or in relation to rates to other points in group.
Relay – To transfer containers from one ship to another when both vessels are controlled by the same network (carrier) manager.
Remittance – Funds sent by one person to another as payment.
Restricted Articles – Articles handled only under certain conditions.
Restricted: – - A condition within the letter of credit which restricts its negotiation to a named bank.
Revenue Ton (RT) – A ton on which the shipment is freighted. If cargo is rated as weight or measure (W/M), whichever produces the highest revenue will be considered the revenue ton.Weights are based on metric tons and measures are based on cubic meters.RT=1 MT or 1 CBM.
Reverse IPI – An inland point provided by an all-water carrier's through bill of lading in the U.S. by first discharging the container in an East Coast port. "
Revocable: – - An instrument that can be modified or cancelled at any moment without notice to and agreement of the beneficiary, but customarily includes a clause in the credit to the effect that any draft negotiated by a bank prior to the receipt of a notice of revocation or amendment will be honored by the issuing bank. Rarely used since there is no protection for the seller.
Revolving: – - An irrevocable letter issued for a specific amount; renews itself for the same amount over a given period.
Ro/Ro" – A shortening of the term, "Roll On/Roll Off." A method of ocean cargo service using a vessel with ramps which allows wheeled vehicles to be loaded and discharged without cranes. Also refers to any specialized vessel designed to carry Ro/Ro cargo.
Roll-on/Roll-off vessels: – - Ships specially designed to carry wheeled containers or trailers using interior ramps.
Rolling – The side-to-side (athwartship) motion of a vessel.
Roll – To re-book cargo to a later vessel.
Route – The manner in which a shipment moves; i.e., the carriers handling it and the points at which the carriers interchange.
Running Gear – Complementary equipment for terminal and over-the-road handling containers.