The Surcharge Applied by Shipping Lines to Sea Freight to Offset

question 73

Multiple Choice

The surcharge applied by shipping lines to sea freight to offset adverse variation in fuel cost is called:

• A) repositioning charge
• B) peak season surcharge
• C) currency adjustment factor
• D) bunker adjustment factor

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Definitions:

Alternative Dispute Resolution (ADR)

Alternative Dispute Resolution (ADR) is a collection of processes used for the resolving disputes without litigation, such as arbitration or mediation.

Mediation

A conflict resolution process where a neutral third party assists disputing parties to reach a mutually acceptable agreement.

Statutory Governance

The system of rules and principles that govern entities, established through legislation or statutory law.

Pay Secrecy

A policy or practice where employees are discouraged or prohibited from discussing their salaries with coworkers.