Fresh water allowance or FWA. This is the change in draught of a vessel when it moves from salt water (density 1.025 tonnes/cu.m) to fresh water (1 tonne/cu.m). The FWA for a vessel for a draught at or near the summer loadline can be calculated by the formula:

Displacement / 4 x TPC

where, TPC = the tonnes per centimetre immersion.

 

Firm Offer(of a cargo or of a ship). A charterparty is a contract. An enforceable contract is formed when there is a definite or "firm' offer incorporating terms, and the offer is unconditionally accepted by the person to whom it is made. There are other requirements but for chartering purposes, for now, an offer and acceptance are analytical "tools" by which agreement is seen to exist or not. During the negotiations for a fixture offers are part of the negotiation process; an offer by one party, or his shipbroker, can be met by a counter-offer by the other side. A counter-offer is not an acceptance.

Free in and out (FIO). As a rule, owners have to pay the cost of loading and discharging the cargo, it being the duty of charterers to deliver the cargo free alongside at the port of loading and for consignees to take delivery from alongside at the port of destination, in each case free of charge to the vessel.

Freeboard. This is the distance measured from the deck to the waterline. The minimum freeboard of a vessel is the vertical distance from the freeboard-deck to the loadlines, indicating the maximum permissible draught, measured at the middle of the ship’s length.

Functions of a bill of lading. When asked to define a bill of lading, people may state that it “... has the following functions: it is a receipt for cargo, a document of title to the goods described and evidence of the contract of carriage”.

Forgeries (Fraud and bills of lading.)A modern case may help to introduce the problems that can arise and identify some of the important issues. A sale contract requires the cargo to be loaded and bills of lading to be dated no later than 15 July.

Full and complete cargo. This expression relates to a full cargo within the ship's cargo capacity, which will bring- the vessel down to its permissible draught, depending on the applicable loadlines or which fills the cargo spaces. The quantity of cargo, which can be loaded, may be qualified by adding for example, "10 per cent more or less in owner's option”. For instance:

Free in and out (FIO). As a rule, owners have to pay the cost of loading and discharging the cargo, it being the duty of charterers to deliver the cargo free alongside at the port of loading and for consignees to take delivery from alongside at the port of destination, in each case free of charge to the vessel.

Firm Order. This term can be used after a charterer (or charterer's agent) has entered the market with an order indicating that he requires a ship usually for a cargo (voyage charter) or for a period.

Freight taxes. Many countries, especially those with developing economies, tend to impose taxes on income (that is, freight) from carriage of goods by sea, generally on export cargoes but, in-some cases, also on import cargo.

FBL. FIATA Bill of Lading.

FIATA Bill of Lading. FIATA is the acronym for the International Federation of Forwarding Agents Associations and is based in Zurich, Switzerland.

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