ShipTerms: Shipping Terminology
Have you ever shipped a package and came across a word that you didn’t understand?
That’s okay, it happens to the best of us!
Here at ShipTime we want to keep you well informed and educated on all things shipping, so we have come up with « ShipTerms ».
Every week we will post a new ShipTerm so you can stay informed and in the know!
Bill of Lading
The Bill of Lading, or BOL, is a document that provides the driver and the carrier with all the details they need to process the freight shipment and invoice it properly.
Bring Your Own Rates (BYOR) allows you to take advantage of our multi-carrier rating engine while utilizing your existing company carrier account.
Less-than Truckload Freight (LTL)
Less than truckload freight shipping (LTL) is used for the transportation of small freight or when freight doesn’t require the use of an entire trailer
A Carrier Adjustment, Shipping Adjustment or Price Adjustment is what happens when someone has entered incorrect shipment details while generating a shipping label.
Dimensional weight is a way for the couriers to calculate the maximum weight of a box based on its size
The total declared value of the contents of your shipment. If ever a claim has to be made on your shipment, this is the value to be referenced with the chosen carrier.