AFRA (Average Freight Rate Assessment). This is a freight billing system which is composed of the weighted average of independently owned tanker tonnage.
Arrived ship. For laytime to commence counting against the charterer the vessel must reach the agreed destination and be physically and legally ready to commence cargo operations and the Notice of Readiness must be given correctly by the master. This "triggers off" the commencement of the laytime either immediately when the Notice of Readiness is accepted or after an agreed, fixed period.
Australian holds ladders. If a vessel is fixed to trade to and from Australia, either on a time charter or on a voyage charter, it may be required by the charterers that the vessel is provided with ladders acceptable to waterside workers (stevedores) in that country. The ladders are required because of demands from waterside workers' unions. These ladders are quite expensive to fit to the vessel and if the vessel requires waterside workers to enter into the cargo holds, yet is not fitted with these ladders, the vessel can be severely delayed.
Arbitration clause. During the performance of any contract of carriage of goods by sea a dispute can arise between the parties to the contract. The document containing the contract generally contains a clause stating how and where the dispute is to be resolved, and therefore which country's law will apply to the resolution of the dispute. For example, cl. 30 of MULTIFORM 1982/1986 states:
Apparent good order and condition. Under the Hague-Visby Rules the corner is required, after receiving the goods into his charge, to issue to the shipper a bill of lading showing, among other things, the "order and condition of the goods". The buyer of goods usually requires those goods in an undamaged state. The receipt given by the carrier is the only initial evidence that the goods are indeed undamaged, when received.