Fake bills of lading. Some fraudsters are capable of forging bills of lading using high quality colour photocopiers that can reproduce even the printed logo of the earner. These fake bills of lading are usually used in persuading buyers or banks to pay for non-existent cargo. This practice can be prevented if the innocent parties check the name and movements of the vessel named on the bill of lading.

 

Fines. Imposed on the owner for breach by his servants of regulations such as immigration, customs, smuggling by crew members, pollution. Fines for overloading are specifically excluded.

 

Force majeure clause. This expression covers events which are completely unforeseeable and which excuse both sides to a contract from carrying out their obligations under the contract.

Freight insurance. Under the terms of a freight policy, coveting as a rule a sum not exceeding 15 per cent of the value of the hull and machinery, the shipowners are also covered according to Institute Time Clauses (Freight) for loss of freight directly caused by the perils in the Institute Time Clauses (Hulls) 1983 with the exception of “damage”. Other clauses are similar to Institute Time Clauses (Hulls) 1983. In the Institute Time Clauses (Freight) an additional clause for “Freight - Collision” is similar to the 3/4ths Collision Liability Clause in the Institute Time Clauses (Hulls) 1983 except that freight liability is covered.

 

Free alongside (FAS). If a charterparty provides for delivery of cargo "free alongside", it is up to the shippers to arrange for delivery of the goods within reach of ship's tackle (cargo handling equipment) unless the custom of the port provides otherwise. In some ports the meaning of this expression may be different. Shippers have fulfilled their obligation if they have arranged for delivery of the goods on pan of the wharf although beyond reach of ship's tackle.

Full knowledge of the local practice is therefore essential.

 

Fighting ship. When liner conferences are faced with severe competition from outsiders, the members of the conference may agree to use additional vessels or sailings at very low freight rates.

Fixing letter. As soon as the negotiations about the chartering of a vessel have resulted in the "fixture" of a ship, a "fixing letter" may be drawn up containing a summary of the main terms and conditions of the charterparty.

Forum clause. This phrase can be applied to a clause in the charterparty which provides for the place where and the legal system under which any disputes will be decided.

 

False date on the bill of lading. The contract of sale between the buyer and seller may impose a condition whereby the goods must be shipped and “onboard, shipped bills of lading” obtained by a certain date.

Full terms. If an order circulating in the freight market is subject to "full terms" this implies that in addition to the usual commissions, owners may have to allow certain reductions, which are customary in the trade in question. It is therefore important to ascertain in advance what percentage will have to be deducted from the rate of freight in order to have a clear picture of the position.

This expression also implies that despatch money will be due for any time saved in loading and discharging.

 

FAC (Fast as can). This term in a charterparty can apply to the vessel's being loaded or discharged as quickly as is practical, possibly in relation to the custom of the part (COP) or "with customary quick despatch".

FCL (Full container load). This expression refers to a consignment from a shipper which will occupy the entire container. The freight rates are generally lower for FCL shipments compared to LCL or “Less than container load” (i.e., break bulk cargo) that has to be loaded into a container.

 

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