Final sailing. A ship has finally departed from the loading port as soon as it has passed the limits of the port being construed in the commercial sense, being ready in every respect to proceed on the contemplated voyage with no intention of returning.

Forum clause. This phrase can be applied to a clause in the charterparty which provides for the place where and the legal system under which any disputes will be decided.

FCA (free carrier)

FCA FREE CARRIER
(... named place)

Freight insurance. Under the terms of a freight policy, coveting as a rule a sum not exceeding 15 per cent of the value of the hull and machinery, the shipowners are also covered according to Institute Time Clauses (Freight) for loss of freight directly caused by the perils in the Institute Time Clauses (Hulls) 1983 with the exception of “damage”. Other clauses are similar to Institute Time Clauses (Hulls) 1983. In the Institute Time Clauses (Freight) an additional clause for “Freight - Collision” is similar to the 3/4ths Collision Liability Clause in the Institute Time Clauses (Hulls) 1983 except that freight liability is covered.

Freight. Simply, this means the price payable to the carrier for carrying cargo in a good condition and delivery to the owner of an interest in the cargo.

FHEX (Fridays and Holidays excluded)

Full terms. If an order circulating in the freight market is subject to "full terms" this implies that in addition to the usual commissions, owners may have to allow certain reductions, which are customary in the trade in question. It is therefore important to ascertain in advance what percentage will have to be deducted from the rate of freight in order to have a clear picture of the position.

This expression also implies that despatch money will be due for any time saved in loading and discharging.

Freight in full of all port charges, pilotage, consular fees, light dues, trimming, lighterage at loading /discharging ports . . .This expression means that the shipowner must pay all port charges and other expenses specified in the term.

FIATA Bill of Lading. FIATA is the acronym for the International Federation of Forwarding Agents Associations and is based in Zurich, Switzerland.

False date on the bill of lading. The contract of sale between the buyer and seller may impose a condition whereby the goods must be shipped and “onboard, shipped bills of lading” obtained by a certain date.

FAC (Fast as can). This term in a charterparty can apply to the vessel's being loaded or discharged as quickly as is practical, possibly in relation to the custom of the part (COP) or "with customary quick despatch".

Fines. Imposed on the owner for breach by his servants of regulations such as immigration, customs, smuggling by crew members, pollution. Fines for overloading are specifically excluded.