B

Beneficial Cargo Owner (BCO)
An importer that takes control of a shipment at the destination using their own logistics assets instead of utilizing a third-party source.

Bill of Lading (BOL)
The bill of lading (BOL) is the legally-binding contract between the shipper and the carrier, broker or agent that defines all aspects of the freight shipping arrangement including what is being shipped and to whom.

Bonded Goods
Imported shipments on which customs charges are still owing.

Booking Confirmation
A receipt for the main shipment leg (ex. air or ocean).

Brokerage License
A brokerage license is a legally required document that a broker obtains in order to have the ability to make land, sea and air freight shipping arrangements.

Bulk Freight
Freight that is not contained within packages or containers is referred to as bulk freight. Sometimes, bulk freight comes in the form of liquid or a granular form such as sand.

Bunker Adjustment Factor (BAF)
A floating part of ocean freight charges which represents additions due to oil prices.

Sources: Shipping Solutions, Partner Ship