It seems that alot of people still ask this question (doesn't mean its bad), is there a glossary of terms which we normally use?
Anyways, TFCD = Time For CD. It is when the model will pose for you free of charge but in return, you will give him/her a copy of the photos. It used to be TFP (Time For Print) but since the digital camera comes in place, everyone ones a CD instead.
Do take note, that depending on the type of shoot you do... you may have to come up with the studio charges, MUA (Make Up Artist) and the sort. You and the model should be sitting down prior to the shoot to discuss these to avoid any misunderstanding cause currently, most models do think that they only need to contribute time. We believe that the model too need to shoot certain theme and due to this, they should also contribute to the shoot as the photographers too are not charging the model for the shoot.
Hope this lengthy answer does help. Anyone out there would like to add on? Please do as I have my own definition and rules for TFCD.