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Flat rate. A vessel may be chartered for shipment of various kinds of cargo, the specific nature of which is not known at the time of the fixture, or it may have to load for several ports within a certain range, out of which one port will be selected as the final port of discharge. In such cases the agreed freight rate is a "flat rate". An example of reported fixture on a "flat rate" could read:

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.

 

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".

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