A
acceptance
letter of credit: A letter of credit that requires presentation
of a time draft drawn by the bearer upon the issuing bank or another
bank.
act of God:
A violent act of nature such as lightning, flood, earthquake, or
hurricane that man can neither cause nor prevent.
ad valorem
duty: A duty calculated on the basis of value. Usually
a percentage of the value.
advised credit:
A letter of credit whose terms and conditions have been notified
to the beneficiary by an advising bank on behalf of the issuing
bank. The advising bank does not thereby commit itself to pay or
guarantee the payment of the letter of credit.
advising bank: A correspondent of a bank that issues a letter of
credit and, on behalf of the issuing bank, notifies the beneficiary
of the terms of the credit without engagement on its part to pay
or guarantee the credit.
Aft:
In, toward, or close to the stern (rear) of a vessel or the rear
of an aircraft or spacecraft.
air cargo:
Property of any kind, excluding passenger baggage and mail, that
is transported by aircraft.
air express:
Expedited air freight service.
air parcel
post: Parcels shipped through the mails to be transported
by air.
airway bill:
The shipping document used for the transportation of air freight,
which includes: conditions, limitations of liability, shipping instructions,
description of commodity, and applicable transportation charges.
It is similar to a straight non-negotiable bill of lading and is
used for similar purposes.
all-cargo
aircraft: Aircraft used for the sole purpose of transporting
cargo or mail.
amidships:
The area of an ocean vessel midway between the bow (the front) and
the stern (the rear). When the term applies to an airplane, it is
midway between the nose and the tail.
antidumping
duties: Additional duties assessed on imported goods sold
to an importing country at a price that is less than fair value,
(fair value usually defined as the price on the exporting country's
domestic market or to third countries) and are found to cause or
threaten material injury to industry of the importing country.
any quantity: A cargo
freight rate that applies to an article without regard to the weight
or quantity shipped.
apron:
1. Area of the airport where planes are parked. May be used for
loading and unloading of aircraft. 2. Area along the waterside edges
of a pier, not under cover, used for loading and unloading of vessels.
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bank acceptance:
A draft drawn on and accepted by a bank
bank guarantee:
An indemnity letter in which the bank commits itself to pay a certain
sum if a third party fails to perform or if any other form of default
occurs.
Example: Used when a bank wants a carrier to release a shipment
that it has financed, but the original bills of lading is not yet
available for surrender to the carrier.
bank release:
A document issued by a bank that is the consignee of a
shipment authorizing a carrier to deliver a shipment.
banker's draft:
A draft payable on demand and drawn by, or on behalf of, a bank
upon itself or upon another bank such as a foreign bank, where it
maintains an account or a relationship.
bank acceptance:
A draft or bill of exchange drawn upon and accepted by a bank.
bareboat charter:
The charter of a vessel in which the charter party has the right
to use his own master and crew on the vessel and pays all operating
expenses.
barge: A
flat-bottomed cargo vessel primarily used on rivers and canals usually
towed or pushed, but it may be self-propelled.
barter:
Trade of goods or services without money.
basing rate:
A freight rate used for the sole purpose of determining other freight
rates.
beneficiary:
An individual or company entitled to draw or demand payment under
the terms of a letter of credit.
berth:
Docking space where a ship is anchored.
billed weight:
Designated weight shown on the freight bill used to calculate the
freight charges.
blanket rate:
A rate of premium for insurance applied across the board
where there is more than one kind of property to be insured.
bond:
1. A written agreement to perform or refrain from performing specified
acts, usually guaranteed by a third party. 2. A security evidencing
debt, specifying the date payment is due and usually specifying
a rate of interest and its dates of periodic payment.
bond of indemnity:
A bond to indemnify (insure; protect against damage, loss, or injury)
the party to whom the bond is issued.
bonded: Refers
to goods which are held, stored, or transported under circumstances
where applicable duty or taxes have not been definitely determined
or paid and admissibility has not been arranged. Bonds must be posted
by those responsible for the goods during this period (the carriers,
warehouses, and/or importers) to indemnify the government if the
goods are released improperly.
booking:
Arrangements made for a shipment with representatives of a vessel
or airline.
break bulk:
1. Description of a ship that transports cargo carried in its hold
that is usually packed in cases, bales, cartons, drums, carboys,
etc. rather than in containers.
2. Unload packaged cargo from a 'break bulk ship' or from a container
and distribute it.
break bulk
cargo: Cargo that is shipped in packing units such as cartons,
cases, crates, bales, or drums, but not containerized.
broker: One
that acts as an agent for others, as in negotiating contracts, purchases,
or sales in return for a fee or commission.
bulk cargo:
Cargo consisting of an unpacked commodity such as grain, oil, and
ore.
bulk carrier:
A vessel that carries bulk cargo
bulk freight:
Cargo not in packages or containers.
bunker fuel:
Fuel used to power a ship
bunker(s):
1. The compartment (hold) of a ship that stores fuel. 2.
The fuel for a vessel
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cargo:
Freight carried by ship, an aircraft, or another vehicle.
cargo agent:
An agent appointed by an airline or shipping line to solicit and
process international air and ocean freight shipments.
cargo manifest:
A list of cargo being transported or warehoused.
cargo tonnage:
The weight of a shipment or of ship's total cargo expressed in tons.
carrier:
A legal entity that is in the business of transporting passengers
or goods for hire.
chargeable
weight: The weight or volume of a shipment used in determining
freight charges.
charter service:
Temporary hiring of an aircraft or vessel for the transportation
of cargo or passengers.
chartered
ship: A ship leased for a stated time, voyage, or voyages.
chassis:
1. A special trailer or undercarriage on which containers are moved
over the road. 2. The undercarriage of a vehicle.
claused bill
of lading: An added clause on a bill of lading that denotes
a deficient condition of the goods or packaging, or other annotated
conditions, which modifies the printed conditions on the Bill Of
Lading.
clean bill
of lading: A bill of lading issued by a carrier for goods
delivered in "apparent good order and condition" that
bears no notations or added clauses that may limit the liability
of the carrier.
clearance:
1. Compliance with governmental requirements that allow a carrier
to berth in a port to unlade or lade cargo and passengers. 2. Compliance
with customs formalities that allow goods to be imported or to be
exported.
closed-end
transaction: A credit transaction with a fixed amount of
time for repayment.
combination
aircraft: An aircraft capable of transporting both cargo
and passengers on the same flight.
combined bill
of lading: A bill of lading covering a shipment of goods
by more than one mode of transportation.
commercial
invoice: A document that details the transaction between
a seller and a buyer, which provides their names and addresses,
the date of the sale, a description of the goods sold, the quantity,
the unit price, the terms of sale, and the total money due. If it
is an invoice between a seller and buyer from different countries,
it also indicates the type of currency.
commercial
letter of credit: A letter or document issued by a bank
to provide credit for a customer that enables him to finance the
purchase of goods or to meet other commitments.
commodity
code: The system of identifying a commodity by an assigned
number.
connecting
carrier: A carrier that has a physical connection with
another carrier or forms a connecting link between two or more carriers.
consignee:
The person or firm named in a freight contract to whom goods have
been shipped or turned over for care.
consignor: An entity that ships goods to another.
The consignor on a bill of lading is the shipper.
consolidated
container: A shipping container that contains cargo from
various shippers for delivery to various consignees.
consolidation:
The combining of smaller shipments into a single shipment.
consular invoice:
An invoice for a shipment of goods that is certified by the counsel
of the country for which the merchandise is destined and which may
require a special form and be subject to special fees.
contract carrier:
Excluding common carriers, any person who under contract will transport
passengers or goods for an agreed compensation.
customs:
1. A duty or tax imposed on imported and, less commonly, exported
goods. 2. The governmental agency authorized to collect custom duties/taxes.
3. Procedure for inspecting goods and baggage entering a country.
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dangerous
goods: Goods that can pose a health or safety risk.
date draft:
A draft which matures after a specified number of days from the
date it is issued.
deadweight:
1. The maximum weight that a ship can carry so that it settles in
the water to its Plimsoll mark; also measurable by the weight of
the water the vessel displaces when fully loaded less the displacement
when it was unloaded. 2. Cargo of such high density that a long
ton (2240 lbs.) can be stowed in less than 70 cubic feet.
deck cargo:
Cargo shipped on the deck of a vessel rather than in its
hold.
declared value
for carriage: The value of goods declared to the carrier
by the shipper for the purposes of determining charges and establishing
the liability of the carrier.
declared value
for customs: The value of a shipment according to the customs
laws of the destination country that is required to be declared
by the shipper on the shipping documents or by the importer when
he presents the goods for customs clearance.
deferred payment
letter of credit: A letter of credit that allows the buyer
to take possession of goods by agreeing to pay the issuing bank
or the confirming bank at a fixed future date.
delivery order:
A document from the consignee, shipper, or owner of freight ordering
the release of freight to another party.
demurrage:
1. In international transportation, a charge for the failure to
remove cargo from a terminal within the allowed free time. Also,
a charge for failure to load or unload a ship within the allowed
period. 2. In domestic transportation, a penalty charge against
users for use of carriers' equipment beyond the allowed free time.
discharging:
Unloading cargo from a carrier or contents from a container.
dock:
1. Loading or unloading platform at an industrial location or carrier
terminal. 2. A ship's berth or wharf.
dock receipt:
A receipt issued by a vessel agent that certifies that
goods have been received.
domestic exports:
Exports of goods which were grown, produced, mined, or manufactured
in the country from which exported.
door-to-door:
Shipping service from shipper's door to consignee's door.
drayage:
The charge made for hauling freight via carts, drays, or trucks.
dry cargo:
Cargo of solid, dry material, not liquid or gas. Usually, the term
excludes cargo requiring special temperature controls.
dumping:
The sale of goods in a foreign country at less than" fair value"
(a price lower than that at which it is sold within the exporting
country or to third countries), which materially injures, or threatens
to materially injure, that industry in the foreign country.
dunnage: Materials
placed around cargo to prevent shifting or damage while in transit.
duty: Government
tax levied on the import or export of goods.
embargo:
Government prohibition of exports or imports with respect to specific
products or specific foreign countries.
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ETA:
Estimated time of arrival.
ETD:
Estimated time of departure.
Ex Factory:
A sale term where the title to goods passes from the vendor
to the buyer when they leave the vendor's dock, as does the liability
for loss or damage and the expenses of shipment. Is still widely
used, but is being replaced by the Incoterm EXW (Ex Works). See
Incoterms.
excise tax:
Internal tax on the manufacture, sale, or consumption of goods,
licenses to pursue certain occupations, and corporate privileges.
export license: license issued to exporters by
a government to permit them to export goods to other countries.
Such goods may be of strategic importance, or simply in short supply,
or are controlled to comply with foreign agreements.
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feeder vessel:
1. A short-sea vessel that is part of a cargo network that transfers
cargo from smaller ports to major ports where larger vessels dock.
This spares larger vessels the expense and loss of time loading
and unloading at smaller ports.
FEU:
Forty foot equivalent units of shipping containers; two 20 ft containers
= 1 FEU.
flag:
A reference to the country of registry of a vessel.
force majeure:
Superior or overpowering force or unexpected or uncontrollable
event, which cannot be avoided by the exercise of due care and is
included in contracts to excuse parties from performance when such
events occur.
foreign bond:
An international bond, usually denominated in the currency of the
country where it is issued.
foreign flag:
The national identification of a carrier registered in a foreign
country. A vessel flies the national flag of the country in which
it is registered, which may not be the country of the carrier's
owner.
free in and
out (FIO): A pricing term indicating that the vessel operator
is responsible for the cost of loading and unloading.
free time:
That length of time that a carrier's equipment can be used without
incurring additional charges. (See Storage, Demurrage, or Per Diem.)
free zone:
A designated area at a port or city where goods may be received
and held without the payment of duty
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gateway:
A location at which freight moving from one territory to another
is interchanged between transportation lines.
GBL:
Government Bill of Lading.
general cargo
vessels: A vessel that carries break-bulk cargo such as
bags, cartons, cases, crates and drums, either individually or in
unitized or palletized loads.
go-down (Far
East): A warehouse where goods are stored and delivered.
GRI: General
Rate Increase. An across-the-board tariff increase implemented by
conference members and applied to base rates.
gross tonnage:
Applies only to vessel (0.2+0.02 log10V) where V is the volume in
cubic meters of all enclosed spaces on the vessel.
gross weight:
Total weight of goods prepared for shipping, including packaging
and freight car or container.
groupage:
A consolidation service that ships small freight in one container.
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Hague Rules,
The: A multilateral, maritime treaty adopted in 1921 at
The Hague, Netherlands, which standardizes liability of an international
carrier under the Ocean Bill of Lading and establishes a legal basis
for the bill of lading.
Harbor Fees:
Amount charged vessels to use a harbor.
hazardous
materials: A substance or material that has been determined
to be capable of posing an unreasonable risk to health, safety,
and property when transported in commerce.
heavy lift
(HL): Any article deemed by rules in a vessel's tariff
to be beyond a certain weight. It may be too heavy for the ship's
tackle and require special equipment such as a floating crane.
heavy lift
charge: In a maritime tariff, a charge made for lifting
heavy articles to load or unload them.
heavy lift
vessel: vessel with heavy lift cranes and other equipment
designated to be self-sustaining in the handling of heavy cargo.
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IATA:
International Air Transport Association
import duty
(ID): Custom duty collected on imported goods.
import license
(I/L): An authorization by a legal authority for the importation
of goods which are subject to restriction.
import restrictions:
Any one of a series of tariff and non-tariff barriers imposed by
an importing nation to control the volume of goods coming into the
country from other countries.
in bond shipment:
An import or export shipment that has not been cleared by Customs
and is transported, stored, or handled with security to the government
provided by indemnity bonds.
Incoterms:
An abbreviation of International Commercial Terms. Incoterms are
published by the International Chamber of Commerce (ICC). It is
a set of rules for the interpretation of the most commonly used
trade terms in foreign trade in which parties to a contract can
agree upon to avoid misunderstandings, disputes and litigation.
inherent vice:
The inherent physical properties of goods which may cause them to
suffer deterioration or damage without outside influence. (For example:
spontaneous combustion, rust etc.)
inland bill
of lading: A bill of lading used in transporting goods
overland.
inland carrier:
A transportation line which hauls cargo inland by: truck, rail,
barge, inland waterways, or domestic airline flights.
inspection
certificate: A document describing the condition of goods
and confirming that they have been inspected.
intermodal
transport: Coordinated transport of freight using multiple
methods of transportation.
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jettison:
Casting overboard at sea such as jetsam (cargo or equipment thrown
overboard to lighten a ship in distress).
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knocked down:
An article disassembled, unassembled, folded, or telescoped
to reduce its bulk; subject to easy assembly. This is usually done
to reduce the dimensions of the shipping package to save transportation
and storage costs.
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landbridge:
A system of through rates and service offered by a carrier for cargo
shipments from a foreign port by ocean vessel, transiting another
country across land, and then again being loaded aboard an ocean
vessel for delivery to the destination country. The movement across
a country's land from port-to-port is the "landbridge"
portion of the transportation.
lane metre: A method of measuring the space capacity of roll on/roll
off (Ro Ro) ships whereby each unit of space (linear metre) is represented
by an area of deck 1m in length by 2.5m in width.
lashing: To
hold goods in position by the use of wires, ropes, chains, or straps.
laycan:
Abbreviation for laydays canceling periods during which a ship owner
must tender notice that a ship has arrived at the port of loading
and is ready to load cargo.
laytime/laydays:
Time given by the ship owner to allow a chartered vessel to load
and discharge cargo.
less than
a container load (LCL): A container with cargos from/for
different shipper/receivers (i.e., contains more than one ships
cargo).
less-than-truckload:
A shipment which does not completely fill a truck or which weighs
less than the weight required for the application of the truck load
freight rate (which is usually a lower freight rate than applied
to less-than-truckload cargo.)
Letter Of
Credit (L/C): A commitment, usually by a bank on behalf
of a client, to pay a beneficiary a stated amount of money under
specified conditions.
lighter:
A barge towed by a tugboat and used mainly in harbors and inland
waterways for the transport of cargo to and from ships. Some may
be self-powered.
lighter aboard
ship (LASH): Some ships are constructed to carry special
barges (lighters). These barges can go to smaller docks, go into
inland waterways, load cargo at those places, and then carry it
back to the ship, which lifts the barges aboard, with their cargo,
and transports them overseas. Discharge of cargo is accomplished
in the same manner.
lighterage:
The loading or unloading of a ship by means of a lighter (barge),
especially when shallow waters prevent an ocean going vessel from
approaching a berth, or if berths are unavailable.
liner in liner
out (LILO): Full liner terms. Qualification to a freight
rate that signifies that it consists of the ocean carriage and the
cost of cargo handling at the loading and discharging ports (to
ship's rail) according to the custom of a particular set of ports.
line haul:
The direct movement of freight between two major ports by a single
ship.
line haul
vessel: A vessel which is on a regularly defined schedule
between ports.
linear metre:
Method of measuring volume of cargo on Ro Ro vessels, in which the
measurement is an estimate of the length of the cargo laid end-to-end.
See lane metre.
liner terms:
Conditions under which a shipping company will transport goods,
including in the amount payable for freight the cost both for loading
and discharge of the cargo from the vessel.
loading :
Placing cargo into a truck, a shipping container, or onto a vessel.
LO/LO:
Lift on/Lift off.
longshoreman:
A laborer who loads and unloads ships, handles cargo and containers
at shipping terminals, and loads and unloads containers at shipping
terminals.
lower deck
containers: Carrier-owned containers specially designed
to fit in the cargo compartments of a wide-body aircraft. These
compartments are on the lower deck of the aircraft beneath the passenger
level.
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manifest:
A document listing and describing the cargo contents of a carrier,
container or warehouse.
minibridge:
The process of taking inland cargo bound for export to the coast
by rail and loading it directly to a ship.
minimum charge:
The lowest amount that will be charged regardless of the amount
of service rendered.
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negotiable
bill of lading: A bill of lading whose terms make it transferable
by endorsement, which make the goods that it covers deliverable
to bearer, or to the order of a named party or to the assigns.
nested:
Packed one within another; for example, the way paper cups are stacked
as a way of saving space.
net weight:
The weight of goods without packaging. The weight of the
contents of a package.
NRT: Net
registered tonnage.
NVOCC: Non-vessel
owning common carrier.
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ocean bill
of lading: A receipt for the cargo and a contract for transportation
issued by an ocean carrier. When issued in negotiable form, it is
also an instrument of title.
on board:
Notation on a bill of lading indicating that the goods have been
loaded on board a named ship.
on deck bill
of lading: An ocean bill of lading containing the notation
that the goods have been loaded on the deck of the vessel.
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packing list:
A document listing the merchandise in a particular shipment that
indicates the kind and quantity in each package.
pallet:
A platform, with or without sides, on which a number of packages
or pieces may be loaded to facilitate handling. Usually the pallet
is constructed so that it has space underneath it to permit lifting
by mechanical equipment.
perishable
freight: Goods subject to decay or deterioration during
shipment.
pickup order:
An order to a carrier to pick up freight at a location.
pier-to-pier:
Shipment of cargo with carrier responsibility from origin pier to
discharge pier.
piggyback:
the transportation of truck trailers and containers on specially
equipped railroad flat-cars.
port charge:
A fee for services performed at ports.
port of discharge:
The port at which a shipment is off loaded by a transportation line.
port of entry:
A place where Customs is stationed to control the arrival
of carriers, goods, and persons from foreign countries.
prepaid charges:
1. Charges, including freight, are paid by the shipper. 2. Charges
designated as prepaid are paid by the shipper with other charges
to be collected from the receiver.
priority air
freight: Reserved air freight or air express service where
a shipment has a priority after mail and the small package services.
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quay:
A structure attached to land to which a vessel is moored.
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reach stacker:
A container-handling truck that can stack containers and reach behind
two rows of containers.
reefer:
Refrigerated container that carries cargo that must be frozen or
chilled.
Re-export:
The export of imported goods without appreciable added value
restricted
letter of credit: A letter of credit which restricts negotiation
to the bank that the issuing bank has nominated in the credit.
road waybill:
Transport document is used to control shipments of goods via truck.
It contains the same information as an inland bill of lading, with
freight and other charges, and routing.
roll on, roll
off (RoRo): 1. Freight ship or ferry that allow vehicles
to drive on and off (roll-on roll-off). 2. Carriers equipped with
large openings at bow and stern and sometimes also in the side with
hydraulically operated ramps providing easy access, which permits
rapid loading and discharge. Fully loaded trucks or trailers carrying
containers are accommodated on the deck. 3. A system of loading
and discharging a ship where the cargo is driven on and off on ramps.
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shipper:
1. A commercial transporter (consigner and receiver) of goods, also
called a carrier. 2. One who tenders goods to a carrier for transportation.
3. The sender of goods to be transported as distinct from the receiver
or the consignee.
shipping order:
Instructions from a shipper to a carrier for the transportation
of goods.
ship's manifest Captain's statement providing details of the ship,
crew, cargo, and ports of destination.
short form
bill of lading: A bill of lading on which does not list
the detailed conditions of transportation, but instead there is
a statement which declares them to be incorporated by reference
and states the place where they are available.
shortage:
A deficiency in quantity shipped, stored, or received.
short shipped:
Cargo not loaded and left on key, either by accident or design.
SITC:
Standard International Trade Classification.
SO:
Seller's option.
SOB:
Shipped on board.
specific commodity
rate: A favorable freight rate usually applicable to certain
classes of commodities that ship in large volume shipments.
spot rate:
The rate (price per unit) for purchase or sale of a commodity or
foreign exchange for immediate delivery.
SSN:
Standard Shipping Note.
stability:
The ability of the vessel to maintain equilibrium or resume its
original position after displacement, as by the sea. Also a vessel's
stability taking into account the weight and position of the cargo
within the vessel.
stackmaster:
A pontoon with two collapsible ends.
standby letter
of credit: A letter of credit that a bank issues on behalf
of its customer to serve as a guarantee to the beneficiary of the
letter of credit that the bank's customer will perform a specified
contract with the beneficiary. If the customer defaults, the beneficiary
can draw funds against the letter of credit as penalties or as payments.
starboard:
Right side of a ship when facing the front or forward end.
stern: The
aftermost part of the ship.
stevedore:
1. A person having charge of the loading and unloading of ships
in port. 2. Longshoreman.
storage demurrage:
A storage charge for property remaining on the dock or terminal
past the permitted "free-time period."
storage in
transit: The stopping of freight traffic at a point located
between the point of origin and destination to be stored and re-forwarded
at a later date.
stowage: The
arranging and packing of cargo in a vessel for shipment.
stowage order:
An order from the ship owner determining how certain classes
of goods (i.e., fragile, valuable, dangerous) are sent to the dock
and how and where they are stowed. The stowage order must accompany
the goods to the dock.
straight bill
of lading: A nonnegotiable bill of lading that designates
a consignee who is to receive the goods and obligates the carrier
to deliver the goods to that consignee only.
stripping:
Unloading cargo from a container or truck (also called devanning.)
stuffing:
Loading cargo into a container.
supercargo:
Person who plans stowage and supervises loading and discharging
of vessels. Also known as a port captain.
surcharge:
A charge or tax above the usual or customary charge.
SWL:
Safe working load.
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tank:
Carries liquids or powder.
tare:
The weight of a container or wrapper apart from the goods they carry.
tariff:
1. A list or system of duties imposed by a government on imported
or exported goods. 2. Duties or a duty imposed by a government on
imported or exported goods. 3. A schedule or prices or fees.
tariff anomaly:
When the customs tariff on raw materials or semi-manufactured
goods is higher than the tariff on the finished product.
tariff escalation:
When customs tariffs on raw materials are nonexistent or
very low; tariffs on semi-processed goods are moderate; and tariffs
on manufactured goods are relatively high.
tariff schedule:
A comprehensive list of goods imported into a country where
custom tariffs are applicable to each product.
tariff war:
(Customs) When one nation increases the tariffs on goods imported
or exported from another country and the other country raises its
tariffs in retaliation.
TDW:
Tons deadweight.
Temporary
Importation (Admission Temporaire): A customs procedure
under which certain goods can be brought into a customs territory
temporarily, conditionally relieved from the payment of import duties
and taxes; such goods must be imported for a permitted purpose and
must be intended for exportation within the permitted period.
tender: 1.
An attendant of a small vessel that serves a larger vessel in a
port for the purpose of supplying provisions and carrying passengers
to and from ship to shore. 2. A formal offer such as an offer of
money or services in payment of an obligation or a bid to contract
goods or services at specified costs.
terminal:
An facility that is used by a rail, ship, air, or truck line as
a place for receiving and delivering cargo, loading and unloading,
transferring, temporarily storing, recoupering, and similarly handling
freight, as well as repairing and servicing equipment.
terminal charge:
A charge made for services performed at transportation
terminals.
TEU:
Twenty foot equivalent unit. A measurement of cargo-carrying capacity
on a containership, referring to a common container size of 20 ft
in length.
through rate:
A shipping rate applicable to transportation from point of origin
to dstination where multiple carriers and multiple modes of transport
may be involved.
time charter:
contract to hire a ship for a stated period of time.
trailer:
transport vehicle designed to be hauled by a truck or tractor.
transship
(tranship): To transfer goods from one ship to another.
2. To ship to one country and re-export to another.
transit zone:
An area in a port of entry in a coastal country that is established
as a storage and distribution center for the convenience of a neighboring
country, which lacks adequate port facilities or access to the sea.
transmittal
letter: In international commerce, a letter from the shipper
or its agent to transmit documents relative to a shipment, which
usually includes a list of the documents enclosed and details covering
the transportation of the shipment.
transport
documents: All types of documents evidencing acceptance,
receipt, and shipment of goods.
tugmaster:
A tractor with a hydraulic trailer connection known as a fifth wheel,
which is used to tow cargo on and off the vessels.
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Unconfirmed
Letter Of Credit: A type of letter of credit bearing the
obligation of the issuing bank only, not of any other bank.
Unit Load:
Various cargo carrying devices, or sizes of containers,
which carry several smaller shipping packages, including the banding
together of a number of individual packages on a pallet to create
a single unit.
Unloading:
1. Removing cargo from a vessel, truck, airplane, or railroad car.
2. Removing cargo from a container; also called devanning.
Unrestricted
Letter Of Credit: A letter of credit that can be negotiated
through any bank of the beneficiary's choice.
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VAT: Value
Added Tax.
vendor:
A company or individual that sells goods or services. A merchant,
a retail dealer; a supplier; one who buys to sell.
volume rate:
A freight rate assessed in connection with a specified volume of
freight based upon the premise that it will be substantial in total
over a period of time. It is generally a lower rate than normally
assessed for smaller lots of cargo.
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war clause:
A marine insurance provision excluding the liability of an insurer
if a loss is caused by war or hostile action. Bills of lading and
charter parties may contain a "War Clause" giving the
vessel options to maintain its safety in case of hostilities.
war risk:
The risk to a vessel, its cargo, or passengers by aggressive actions
of a hostile nation or group.
war risk insurance:
Insurance covering loss or damage caused by war or other
hostile actions. Usually a separate policy from a marine insurance
policy or a special attachment to it.
waybill:
A document prepared by a transportation line for shipment showing
the point of origin, destination, route, consignor, consignee, description
of shipment and amount charged for the transportation service and
other services connected with the transport. It is similar in information
to a bill of lading.
weight break:
The point at which the weight of a shipment is large enough
to be assessed the lower freight rates that are applicable to larger
shipments, as per the carrier's tariff.
wharfage:
A charge assessed by a pier or dock owner for handling incoming
or outgoing cargo
