Glossary of Shipping Terms:
" C " (page-9)
Critical Path Method
A network planning technique used for planning and controlling the activities in a project. By showing each of these activities and their associated times, the 'critical path' can be determined. The critical path is the series of successive activities which takes up most time and is therefore decisive for the total lead time of the project.
Cross Trades
Term used in shipping company for the services of a vessel between nations other than the nation in which the vessel is registered (UNCTAD).
Cruise Ship
A ship on an international voyage carrying passengers participating in a group program and accommodated on board, for the purpose of making scheduled temporary tourist visits at one or more different ports, and which during the voyage does not normally: (a) embark or disembark any other passengers; (b) load or discharge any cargo.
Currency
A medium of exchange of value, defined by reference to the geographical location of the authorities responsible for it (ISO4217).
In general, the monetary unit involved in a transaction and represented by a name or a symbol.
Currency Adjustment Factor (CAF)
Adjustment applied by shipping lines or liner conferences on freight rates to offset losses or gains for carriers resulting from fluctuations in exchange rates of tariff currencies.
Customer
See: Client
Customer Pick Up
Cargo picked up by a customer at a warehouse.
Customer Service
- The way in which during a commercial relationship the wishes and demands of the (prospective) client are catered for.
- Supporting activities at the customer interface adding value to a product (CEN273).
Customer Service Level
A performance measure of customer service.
Note: generally this is seen as the degree with which customer orders can be executed, in accordance with the terms which are generally accepted in the market.
Customs
The department of the Civil Service that deals with the levying of duties and taxes on imported goods from foreign countries and the control over the export and import of goods e.g. allowed quota prohibited goods.
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Customs Broker
An authorised agent specialised in customs clearance procedures on account of importers/exporters.
Customs Clearance Agent
Customs broker or other agent of the consignee designated to perform customs clearance services for the consignee.
Customs Invoice
Document required by the customs in an importing country in which an exporter states the invoice or other price (e.g. selling price, price of identical goods), and specifies costs for freight, insurance and packing etc., terms of delivery and payment, for the purpose of determining the customs value in the importing country of goods consigned to that country.
Customs Value
The worth of an item or group of items expressed in a monetary amount, within a consignment declared to Customs for duty and statistical reasons.
Cybernetics
The study of control processes in mechanical, biological, electrical and information systems.
Cycle Stock
That portion of stock available or planned to be available in a given period for normal demand, excluding excess stock and safety stock.
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