A - B | C | D | E - G | H - K | L - R | S - Z
E
Elkins Act - An amendment to the IC Act that prohibits giving rebates.
Embargo - A carrier’s refusal to accept cargo because the carrier cannot deliver it (for example, because of washed-out bridge).
Exclusive use - Carrier vehicles that are assigned to a specific shipper for its exclusive use.
Expedite - To speed up a shipment; the carrier is expected to give it special attention.
F
FAK - Freight, all kinds; a mixture of different items can travel at the same rate.
Fifth wheel - A device on the rear of a truck tractor for attaching a trailer.
Financial responsibility - Motor carriers are required to have body injury and property damage (not cargo) insurance of not less than $500,000 per incident per vehicle; higher financial responsibility limits apply for motor carriers transporting oil or hazardous materials.
Fixed costs - Costs that do not vary with a firm’s output and must be covered even if the firm is shut down by, say, a storm or a strike. As the volume of business increases, these costs are spread over a larger amount of production, reducing the average cost of each and contributing to economies of scale.
FOB - Free on board, at a designated point; a term of sale meaning that the buyer must take possession at the point and arrange for transportation beyond that point.
Foreign trade zone - An area, usually near a port or an airport, where goods have not yet been cleared through customs; within the zone, good may be processed, stored, labeled, and so on.
Free time - The amount of time the user may keep a vehicle or a container for loading or unloading before being subject to detention charges.
Freight bill - The carrier’s invoice for transportation charges applicable to a freight shipment.
Freight forwarder - A firm that assembles small shipments from many sources, consolidates them, and tenders them as a single shipment to a carrier; international freight forwarders also handle documentation.
G
Gateway - A point where freight movements between two different regions or major carriers are interchanged.
General cargo - Relatively high-value freight consisting of manufactured, processed, or packaged products.
General commodities carrier - A common motor carrier that has operating authority to transport general commodities, or all commodities not listed as special commodities.
Gross weight - The total weight of the vehicle and the payload of freight or passengers.
