Free Zone
A designated area within a country where goods can be imported stored processed or re-exported without being subject to customs duties.
Definition
A designated area within a country where goods can be imported stored processed or re-exported without being subject to customs duties. Free zones encourage trade by offering tax incentives simplified regulations and faster customs clearance processes.
Related Terms
FAF (Fuel Adjustment Factor)
A surcharge applied by carriers to compensate for fluctuations in fuel prices.
FAK (Freight All Kinds)
A freight rate applied uniformly across multiple types of goods shipped in the same container.
FCA (Free Carrier)
An Incoterm in which the seller is responsible for delivering the goods to a designated carrier or location with all risks and costs transferring to the buyer at that point.
FCL (Full Container Load)
A shipping method where a single consignee books an entire container for their cargo.
Federal Maritime Commission (FMC)
The Federal Maritime Commission is an independent U.S. government agency responsible for regulating international ocean transportation for cargo moving in and out of the United States.
FEU (Forty-Foot Equivalent Unit)
A standard unit of measurement used in the shipping industry to describe the capacity of container ships and terminals.
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