G.R.Wt./G.W.
Gross Weight
Gang
Group of stevedores usually 4 to 5 members with supervisor assigned to a hold or portion of the vessel being loaded or unloaded.
Gateway
Port of entry into a country or region.
GATT
General Agreement on Tariffs and Trade, a multilateral treaty intended to help reduce trade barriers and promote tariff concessions.
GCR
General Cargo Rate. The basic tariff category which was introduced to cover most air cargo now covers only a minority, the remainder being under SCR or class rates.
General Average
When damage to cargo on board a vessel exceeds carrier's insurance, carrier will release cargo only with an acceptance agreement to claim only a general percentage of all the damage sustained.
General Export License
Any of various export licenses covering export commodities for which validated export licenses are not required. No formal application or written authorization is needed to ship exports under a general export license.
General Order
Government contract warehouse for the storage of cargoes left unclaimed for ten working days after availability. Unclaimed cargoes are auctioned publicly after one year.
Gross Weight
Entire weight of goods, packing, and container,, ready for shipment.
GSA
General Sales Agent acting on behalf of an airline. Usually Broker or Forwarder.
Harmonized Code
An internationally accepted and uniform description system for classifying goods for customs, statistical and other purposes.
Harmonized Systems
A key provision of the recently signed trade bill, effective Jan. 1, 1989, that establishes international uniformity for product classifications. Most U.S. Trading partners adopted it a year earlier, and it was drafted in Brussels a decade ago with U.S. representatives' input. In essence, it is a new tariff schedule in that it changes methods of rating some items.
Harmonized Tariff Schedule of the United States (HTSUS)
the legal list issued by the U.S. Government used to determine the classification of imported merchandise.
Hatch
The cover of - or opening- in the deck of a vessel, through which cargo is loaded.
Heavy Lift Vessel
Specifically designed to be self sustaining with heavy lift cranes, to handle unusually heavy and/or out-sized cargoes.
Heavy Lifts
Freight too heavy to be handled by regular ship's tackle
House Air Waybill
An air waybill issued by a freight consolidator. See Air Waybill
Hub
A central location to which traffic from many cities is directed and from which traffic is fed to other areas.
Hundredweight (cwt.)
A short ton hundredweight = 100 pounds. Long ton hundredweight = 112 pounds.
Husbanding
Term used by steamship lines, agents, or port captains who are appointed to handle all matters in assisting the master of the vessel while in port to obtain bunkering, fresh water, food and supplies, payroll for the crew, doctors appointments, ship repair, etc.
I.C.T.F.
Intermodal Container Transfer Facility, an on-dock facility for moving containers from ship to rail or truck.
I.p.a.
Including particular average
IATA
International Air Transport Association.
ICAO
International Civil Aviation Organization. A specialized agency of the United Nations, with headquarters in Montreal. Its task is to promote general development of civil aviation (e.g. aircraft design and operation, safety procedures, contractual agreements).
ICC
International Chamber of Commerce
IFF
Institute of Freight Forwarders
Igloo
Container designed to occupy full main deck width of carrying aircraft.
Import License
A certificate, issued by countries exercising import controls, that permits importation of the articles stated in the license. The issuance of such a permit frequently is connected with the release of foreign exchange needed to pay for the shipment for which the import license has been requested.
Importer of Record
the party in whose name the entry is made.
In-Bond
A customs program for inland ports that provide for cargo arriving at a seaport to be shipped under a Customs bond to a more conveniently located inland port where the entry documents have been filed. Customs clears the shipment there, and the cargo is trucked to its destination, which normally is close to the inland port.
Incoterms
A codification of terms used in foreign trade contracts that is maintained by the International Chamber of Commerce.
Incremental Cost to Export
The additional costs incurred while manufacturing and preparing a product for export ( e.g., product modifications, special export packaging and export administration costs.) This does not include the costs to manufacture a standard domestic product, export crating and transportation to the foreign market.
Independent Action
A move by whereby a member of a shipping conference elect to depart from the specific service rates set forth by the conference, giving ten calendar days notice of such action. The conference member's new schedule of rate, or rates, officially takes effect no later than ten days after receipt of notice by the conference.
Inducement
Some steamship lines publish in their schedules the name of a port and the words by inducement in parentheses. This means the vessel will call at the port if there is sufficient amount of profitable cargo available and booked.
Inland Carrier
A transportation line which hauls export or import traffic between ports and inland points.
Inspection Certificate
A document certifying that merchandise (such as perishable goods) was in goods condition immediately prior to shipment.
Integrated Carrier
Forwarder which uses own aircraft, whether owned or leased, rather than scheduled airlines.
Intellectual Property
Ownership of the legal rights to possess, use or dispose of products created by human ingenuity, including patents, trademarks and copyrights.
Interline
Mutual agreement between airlines to link their route network.
Intermeddle
Referring to the capacity to go from ship to train to truck, or the like, the adjective generally refers to containerized shipping or the capacity to handle same.
Irrevocable Letter of Credit
A letter of credit with a fixed expiration date that carries the irrevocable obligation of the issuing bank to pay the exporter when all of the terms and conditions of the letter of credit have been met.
ISO
International Standards Organization also referred to as the International Organizational for Standardization.
J
J.&W.O.
Jettison and washing overboard
Jettison
Goods from a ship's cargo, or parts of its equipment, that have been thrown overboard to lighten the load in time of danger, or to set a stranded ship adrift.
Joint Venture
A form of business partnership involving joint management and the sharing of risks and profits between enterprises sometimes based in different countries.
Just-In-Time (JIT)
The principle of production and inventory control in which goods arrive when needed for production or use.
K.D.C.L.
Knocked down in carload lots
K.D.L.C.L.
Knocked down in less than carload lots.
KD Flat
An article taken apart, folded, or telescoped to reduce its bulk at least 66 2/3% below its assembled size.
Knock Down (KD)
An article taken apart, folded or telescoped in such a manner as to reduce its bulk at least 33 1/3% below its assembled bulk.
Knot (Nautical)
The unit of speed equivalent to one nautical mile, or 6,080.20 feet per hour or 1.85 kilometers per hour.
L. & D.
Loss and damage
L.C.L.
Less than container load; less than car load.
l.t. or l.tn.
Long ton (2240 lbs.)
L/C - Letter of Credit
A document issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms. Issued as revocable or irrevocable.
Lagan
Cargo or equipment to which an identifying marker or buoy is fastened, thrown over-board in time of danger to lighten a ship's load. Under maritime law if the goods are later found they must be returned to the owner whose marker is attached; the owner must make a salvage payment.
Lash
Lighter Aboard Ship (see Lighter)
Lash Vessel
Designed to load internally, barges specifically designed for the vessel. The concept is to quickly float the barges to the vessel (using tugs or ships wenches) load these barges through the rear of the vessel, then sails. Upon arrival at the foreign port, the reverse happens; Barges are quickly floated away from the vessel and another set of waiting barges quickly are loaded. Designed for quick vessel turn-around. Usually crane-equipped; handles mostly breakbulk cargo.
Lay Days
The dates between which a chartered vessel is to be available in a port for loading of cargo.
Legal Weight
The weight of the goods plus any immediate wrappings which are sold along with the goods e.g., the weight of a tin can as well as its contents. (See Gross Weight).
Less than Truck Load (LTL)
Rates applicable when the quantity of freight is less than the volume or truckload minimum weight.
Letter of Credit
A document issued by a bank at a buyer's request honoring debt obligations to the seller upon receipt of the document.
Letter of Credit - payment by sight draft
The exporter receives guaranteed payment from the confirming bank in the U.S. upon presentation of the sight draft and documents required by the letter of credit.
Lighter
An open or covered barge equipped with a crane and towed by a tugboat. Used mostly in harbors and inland waterways.
Lighterage
The cost of loading or unloading a vessel by means of barges alongside.
Liner
The word "liner" is derived from the term "line traffic" which denotes operation along definite routes on the basis of definite, fixed schedules; a liner thus is a vessel that engages in this kind of transportation, which generally involves the haulage of general cargo as distinct from bulk cargo.
Liquidation
the final review and assessment of duty on imported merchandise by the Customs Service.
Livestock
Common farm animals
Lkg. & Bkg.
Leakage and breakage.
Lo/Lo
The acronym meaning "lift-on,lift-off," denoting the method by which cargo is loaded onto and discharged from an ocean vessel, which in this case is by the use of a crane.
Load Factor
Capacity sold as against capacity available, expressed as a percentage.
Ltge.
Lighterage
LTL
Less than truckload
M.M
Mercantile marine
M/R
Mate's Receipt
M/T
Metric Ton (2204 lbs.)
M/V or M.V
Motor vessel
Manifest
A list of the goods being transported by a carrier.
Maquiladora
a program designed and promoted by the Mexican government that allows foreign manufacturers to ship components into Mexico duty-free for assembly and subsequent reexport.
Marine Insurance
An insurance which will compensate the owner of goods transported overseas in the event of loss which cannot be legally recovered from the carrier.
Maritime Administration (MARAD)
A US government agency, while not actively involved in vessel operation, administers laws for maintenance of merchant marine for the purposes of defense and commerce.
Mark
As used on containers in foreign trade, a symbol or initials shown together with the port of importation and the final destination, if different. Example A.G. y Cia., Bogota via Barranquilla. Marks are registered at appropriate customs houses; they also appear on bills of lading and invoices. In domestic trade, it is common to mark containers with the name and address of the recipient, but this is rarely done in foreign trade.
Marking
Every article of foreign origin, or its container, imported into the United States shall be permanently marked in a conspicuous place in a manner which would indicate to the ultimate purchaser the English name of the country of origin of the article.
Marking (country of origin)
the physical stamp, wording, or marking on an article or merchandise that shows in what country the article or merchandise was produced.
Mate's Receipt
Receipt of cargo by the vessel, signed by the mate (similar to dock receipt).
Measurement Ton
The measurement ton (also known as the cargo ton or freight ton) is a space measurement, usually 40 cubic feet or one cubic meter. The cargo is assessed a certain rate for every 40 cubic feet or 1 cubic meter it occupies.
MFN (Most Favored Nation)
Designation for countries which receive preferential tariff rates. This is no longer the best tariff structure available.
Min. B/L
Minimum bill of lading
mt.
Empty
MW
Minimum weight factor
n.e.m.
Not elsewhere mentioned (English)
n.e.s.
Not elsewhere specified
N.O.E.
Not otherwise enumerated
N.O.H.P.
Not otherwise herein provided
N.O.I.
Not more specifically described
N.O.I.B.N.
Not otherwise indicated by number; Not otherwise indicated by name.
N.O.S.
Not otherwise specified
N.T.
Net tons
NAFTA
the North American Free Trade Agreement agreed to by the U.S.A., Canada, and Mexico. NAFTA eliminates certain tariffs, promotes market access, and facilitates customs administration.
National Carrier
A flag carrier owned or controlled by the state.
Nested
Three or more different sizes of an article are placed within each other so that each article will not project above the next lower article by more than 33 1/3% of its height.
Nested Solid
Three of more different sizes of an article are placed within each other so that each article will not project above the next lower article by more than 1/4 inch.
Net Terms
Free of charters' commission
Net Weight
(Actual Net Weight) Weight of goods alone without any immediate wrappings; e.g., the weight of the contents of a tin can without the weight of the can.
NMFC
National Motor Freight Classification
No Objection Certificate
Document provided by scheduled or national airlines of many countries declaring no objection to a proposed charter flight operated by another airline. Often demanded by government authorities before they grant permission for a charter flight to take place.
No Objection Fee
Sum of money paid by a charter airline normally to a scheduled airline in order that it waives its right of objection to its government, thus allowing a charter to take place. Tantamount to a bribe. The amount is usually a fixed percentage of the gross cost of a charter. Common practice in the Middle East and Africa.
Non-Scheduled Flight
See scheduled flight.
Non-Tariff Barriers (NTB)
Economic, political, administrative or legal impediments to trade other than duties, taxes and import quotas
Non-Vessel Operation Common Carrier (NVOCC)
An F.M.C. registered cargo consolidator of small shipments in ocean trade, generally soliciting business and arranging for or performing containerization functions at the port. These carriers issue their own bill of lading referred to as a house bill of lading.
O. & R.
Ocean and Rail
O.D.
Outside diameter
O.R. Det.
Owner's risk of deterioration
O.r.b.
Owner's risk or breakage.
O.R.F.
Owner's risk of fire or freezing
O.R.L.
Owner's risk of leakage
O.R.W.Owner's risk of becoming wet
O.S. & D.
Over, short and damage
O/N
Order notify; own name
O/o
Order of
O/R
Owner's risk
Ocean Bill of Lading
A receipt for cargo in transit, and a contract between the exporter and an ocean carrier for transportation and delivery of goods to a specified party at a specified foreign destination. Issued after the vessel has sailed and the cargo has been entered in the ship's manifest.
ODS
An acronym commonly used for the term "operating differential subsidy," which is a payment to an American-flag carrier by the federal government to offset the difference in operating costs between US and foreign vessels.
Off-Line
Describes an airline that sells in a market to which it does not operate. An Off-Line carrier will use another operator to link with its network.
Open Account
A high-risk trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.
Open Policy
A cargo insurance policy that is an open contract; i.e., it provides protection for all an exporter's shipments afloat or in transit within a specified geographical trade area for an unlimited period of time, until the policy is cancelled by the insured or by the insurance company. It is "open" because the goods that are shipped are also detailed at that time. This usually is shown in a document called a marine insurance certificate.
Original Equipment Manufacturers (OEM accounts)
Customers who incorporate the exporter's product into their own merchandise for resale under their own brand names.
P.A.
Particular average
P.W.
Packed weight
Paired
Port of Arrival Immediate Release and Enforcement Determination. A U.S. Customs program that allows entry documentation for an import shipment to be filed at one location, usually an inland city, while the merchandise is cleared by Customs at the port of entry, normally a seaport. May be ineffective with certain types of high-risk cargoes, such as quota-regulated textiles or shipments from drug-production regions. Cities where there is a natural flow of cargo are actually "paired" in the program; e.g., Atlanta, an inland city, is linked with Savannah, a seaport. Tested in '87-'88, it became generally available in mid- '88.
Pallet
Load carrying platform to which loose cargo is secured before placing aboard the aircraft.
Pallet Extender
Fashionable metal or cardboard device to increase pallet capacity.
Paperless Release
Under ABI, certain commodities from low-risk countries not designated for examination may be released through an ABI-certified broker without the actual submission of documentation.
Part Charter
Where part of an airline's scheduled flight is sold as if it were a charter in its own right (Often wrongly used as a synonym for split charter).
Part Load Charter
Where a part of an aircraft's load is discharged at one destination and a part of it at another. This is distinct from a split charter where a number of consignments are carried to the same destination. Inbound, part loads are treated as single entity charters under the regulations of most countries.
Particular Average
Partial loss or damage to goods.
Perils of the Sea
Most losses covered by a marine insurance policy come within the comprehensive expression "perils of the sea," which refers to damage caused by heavy weather, strandings, strikings on rocks or on bottom, collision with other vessels, contacts with floating objects, etc.
Perishables
Any cargo that loses considerable value if it is delayed in transportation (Usually refers to fresh fruit and vegetables).
Phytosanitary Inspection Certificate
A certificate issued by the U.S. Department of Agriculture indicating that a shipment has been inspected and is free of harmful pests and plant diseases.
Pilferage
As used in marine insurance policies, the term denotes petty thievery, the taking of small parts of a shipment, as opposed to the theft of a whole shipment or large unit. Many ordinary marine insurance policies do not cover against pilferage, and when this coverage is desired, it must be added to the policy.
Pivot Weight
That weight of a ULD above which a higher tariff applies; in effect, an incentive to maximize cargo density.
Place
A particular street address or other designation of a factory, store, warehouse, place of business, private residence, construction camp or the like, at a point.
Place of Rest
The term "Place of Rest" as used in the Containerized Cargo Rules means that location on the floor, dock, platform or doorway at the CFS to which cargo is first delivered by shipper or agent thereof.
Point
A particular city, town, village or other community or area which is treated as a unit for the application of rates.
Port Authority
A government body (city, county or state) which in international shipping maintains various airports and/or ocean cargo pier facilities, transit sheds, loading equipment warehouses for air cargo, etc. Has the power to levy dockage and wharfage charges, landing fees, etc.
Port Marks
An identifying set of letters numbers and/or geometric symbols followed by the name of the port of destination, which are placed on export shipments. Foreign government requirements may be exceedingly strict in the matter of port marks.
Port of Discharge
Port where vessel is off loaded and cargo discharges.
Port of Entry
A port at which foreign goods are re-admitted into the receiving country.
Port of Loading
Port where cargo is loaded aboard the vessel lashed and stowed
Power of Attorney (or limited power of attorney)
a legal document that importers give to their customs broker that allows the customs broker to conduct business with the Customs Service on the importer's behalf.
Pre-Advice
Preliminary advice that a letter of credit has been established in the form of a brief authenticated wire message. It is not an operative instrument and is usually followed by the actual letter of credit.
Prepaid Freight
Generally speaking, freight charges both in ocean and air transport may be either prepaid in the currency of the country of export or they may be billed collect for payment by the consignee in his local currency. However, on shipments to some countries freight charges must be prepaid because of foreign exchange regulations of the country of import and/or rules of steamship companies or airlines.
Pre-Slung Cargo
Cargo shipped already in a cargo sling or net. Usually prepared and loaded at pier ready for arrival of vessel and subsequent loading (i.e. coffee in bags, coconut shells, etc).
Price Quotation/Proforma Invoice
An invoice prepared by the seller in advance of shipment that documents the cost of goods sold, freight, insurance, and other related charges. It is often used by the buyer to secure a letter of credit, an import license or a foreign currency allocation.
Prima Facie
Latin, "on first appearance." A term frequently encountered in foreign trade. When a steamship company issues a clean bill of lading, it acknowledges that the goods were received "in apparent good order and condition" and this is said by the courts to constitute prima facie evidence of the conditions of the containers; that is, if nothing to the contrary appears, it must be inferred that the cargo was in good condition when received by the carrier.
Prior Disclosure
Sometimes an importer will find it has violated a customs law before the Customs Service has discovered the violation. A prior disclosure is a voluntary report by an importer of the violation to the Customs Service. The law provides some benefits (but does not speak of the risks) to an importer who does a prior disclosure.
Pro Number
A number assigned by the carrier to a single shipment, used in all cases where the shipment must be referred to. Usually assigned at once.
Proforma
When used with the title of a document, the term refers to an informal document presented in advance of the arrival, or preparation of the required document, in order to satisfy a customs requirement.
Proof of Delivery
Add-on service in express market, delivered either by phone or courier. Often offered free.
Protest
Customs form 19 allows for a refund of an overpayment of duty if filed within 90 days of liquidation.
Quota
A
limitation on the quantity of goods that may be imported during a specific period of time. Quotas can include limitations on all countries, or can target specific countries.
R. & C.
Rail and Canal
R. & C.C.
Riots and civil commotions
R.C.C. & S.
Riots, civil commotions and strikes
R/C
Reconsigned
Rebate
A deduction taken from a set payment or charge. As a rebate is given after payment of the full amount has been made, it differs from a discount which is deducted in advance of the payment. In foreign trade, a full or partial rebate may be given on import duties paid on goods which are later re-exported.
Reciprocity
A practice by which governments extend similar concessions to one another.
Red Clause Letter of Credit
A letter of credit that allows the exporter to receive a percentage of the face value of the letter of credit in advance of shipment. This enables the exporter to purchase inventory and pay other costs associated with producing and preparing the export order.
REFG.
Refrigerating; Refrigeration
Regs.
Registered Tonnage
Retaliation
Action taken by a country to restrain its imports from another country that has increased a tariff or imposed other measures that adversely affects the firsts country's exports.
RORO (ROLL ON-ROLL OFF)
Direct drive on/drive off wheeled vehicles on specially-designed ocean-going vessels.
Route
an established air passage, from point of departure to terminating station.
Royalty
a charge on charter flights levied by some governments before traffic rights are granted. Sometimes called a "no objection fee." Usually a fixed proportion of a total charter value.
Ruling
a decision rendered by the Customs Service on an issue or issues surrounding a particular importation of merchandise. Rulings are published and can usually be appealed to a higher administrative body or to a court of law.
S. & F.A.
Shipping and forwarding agent.
S.I.T.
Stopped in Transit
S.L. & C.
Shipper's Load and Count
S.L. & T.
Shipper's Load and Tally
S.O.L.
Ship Owner' Liability
S.R
Shipping Receipt
S.R. & C.C.
Strikes, riots, and civil commotions.
S.tn.
Short ton
S.W.
Shipper's weights
S/N
Shipping Note
Salvage
Rescue of goods from loss at sea or by fire; also, goods so saved, or payment made or due for their rescue.
Sanitary and Health Certificate
A statement signed by a health organization official certifying the degree of purity, cleanliness, or spoilage of goods, and the health of live animals.
Schedule B
Refers to "Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the United States." Being replaced under the Harmonized System.
Scheduled Flight
Any service that operates to a set timetable.
SCR
Specified Commodity Rate. Applied to narrowly specified commodities. Usually granted on relatively large shipments. Theoretically is of limited time duration.
Sector
Distance between two ground points within a route.
Self-Sustaining
Vessel has its own cranes and equipment mounted on board for loading/unloading. Used in ports where shore cranes and equipment are lacking.
Service
The defined, regular pattern of calls made by a carrier in the pick-up and discharge of cargo.
Service Contract
A contract between a shipper and an ocean carrier of conference, in which the shipper makes a commitment to provide a minimum quantity of cargo over a fixed time period.
Set Up
Articles in their assembled condition.
Shipment
Freight tendered to a carrier by one consignor at one piece at one time for delivery to one consignee at one place on one bill of lading.
Shipper
Term used to describe exporter. Mostly manufacturing companies.
Shipper's Export Declaration
A form required by the Treasury Department and completed by a shipper showing the value, weight, consignee, destination, etc., of export shipments as well as Schedule B identification number.
Ship's Manifest
An instrument in writing containing a list of the shipments comprising the cargo of the vessel.
Ship's Tackle
All rigging, etc., utilized on a ship to load or discharge cargo.
Short-Shipped
Cargo manifested but not loaded.
Sight Draft
A draft payable upon presentation to the drawee. Compare date draft and time draft.
Single Entry Charter
A non-scheduled flight carrying the cargo of one shipper.
Site
A particular platform or location for loading or unloading at a place.
Split Charter
Where a number of consignments from different shippers are carried on the same non-scheduled aircraft. Under U.K. regulations a non-scheduled flight chartered by a single forwarder or agent on behalf of a number of shippers is still classified as a split charter. Under U.S. regulations, a forwarder chartered flight is classified as a single entity although it can consolidate.
SS
Steamship; steam powered ship (Steam driven turbines)
Standard International Trade Classification (SITC)
A standard numerical code system developed by the United Nations to classify commodities used in international trade.
Steamship Agent
A duly appointed and authorized representative in a specified territory acting in behalf of a steamship line or lines and attending to all matters relating to the vessels owned by his principals.
Steamship Line
Company is usually composed of the following departments; vessel operations, container operations, tariff department, booking, outbound rates, inward rates and sales. the company can maintain its own in country U.S. offices to handle regional sales, operations and/or other matters or appoint steamship agents to represent them doing same. Some lines have liner offices in several regions and have appointed agents in others.
Stowage
The lacing of cargo in a vessel in such a manner as to provide the utmost safety and efficiency for the ship and the goods it carries.
Strikes, Riots, and Civil Commotions
An insurance clause referring to loss or damage directly caused by strikers, locked-out workmen, persons participation in labor disturbances, and riots of various kinds. The ordinary marine insurance policy does not cover this risk; coverage against it can be added only by endorsement.
Subsidy
An economic benefit granted by a government to producers of goods or services, often to strengthen their competitive position.
Sue & Labor Clause
A provision in marine insurance obligating the assured to do things necessary after a loss to prevent further loss and to act in the best interests of the insurer.
Surety Bond
A bond insuring against loss or damage or for the completion of obligations; must be posted with the Customs Service to cover potential penalties, duties, or taxes before imported merchandise can be entered into the United States.
Surety Company
An insurance company
T.B.L.
Through bill of lading
T.I.B.
Temporary Import Entry
Tally Sheet
List of cargo, incoming and outgoing, checked by Tally clerk on dock.
Tare Weight
The weight of the container and/or packing materials only - excluding the weight of the goods inside the container.
Tariff
A general term for any listing of rates, charges, etc. the tariffs most frequently encountered in foreign trade are tariffs of the international transportation companies operating on sea, on land, and in the air; tariffs of the international cable, radio, and telephone companies; and the customs tariffs of the various countries, which list goods that are duty free and those subject to import duty, giving the rate of duty in each case. There are various classes of customs duties.
Tariff (or tariff schedule)
schedule of taxes or duties on imported goods.
Temperature Controlled Cargo
Any cargo requiring carriage under controlled temperature
TEU
Twenty foot equivalent.
Third Freedom Right
Where cargo is carried by an airline, from the country in which it is based, to a foreign country.
Time Draft
A draft that matures in a certain number of days, either from acceptance or date of the draft.
Title, Passing
The passing of title to exported goods is determined in large measure by the selling terms. For example, if an exporter sells goods c.i.f he may be presumed to pass ownership and tender of documents. However, he may ship on a bill of lading drawn to his own order, to prevent the buyer from gaining possession of the goods until the draft is paid or accepted. In this case he retains a security title to the goods; that is, a title for security purposes only, until the financial arrangement is carried out. Caution depending on the laws of the buyer's country, you may not be able to force passage of title without payment having been received or the buyer having accepted delivery of the goods or a clear understanding by the buyer being understood and accepted.
TL
Truckload
Ton
Freight rates for liner cargo generally are quoted on the basis of a certain rate per ton, depending on the nature of the commodity. This ton, however, may be weight ton or a measurement ton.
Ton-Deadweight
Indicates the carrying capacity of the ship in terms of the weight in tons of the cargo, fuel, provisions and passengers which a vessel can carry.
Ton-Displacement
The weight of the volume of water which the fully loaded ship displaces.
Ton-Kilometer
Measure of airline freight capacity
Ton-Registered
Indicates the cubical contents or burden of a vessel in tons of 100 cubic feet. The space within a vessel in units of 100 cubic feet.
Tracking
A carrier's system of recording movement intervals of shipments from origin to destination.
Trade
A term used to define a geographic area or specific route served by carriers.
Traffic Conferences
Rate-fixing machinery operated by IATA.
Tramp
A tramp is a vessel that does not operate along a definite route on a fixed schedule, but calls at any port where cargo is available.
Transaction Value
the price actually paid or payable by the buyer to the seller for the merchandise when sold for exportation to the United States. Transaction value is the most common method for valuing imported merchandise.
Transferable Letter of Credit
A letter of credit that allows all or a portion of the proceeds to be transferred from the original beneficiary to one or more additional beneficiaries.
Transport Index
The number expressing the maximum radiation level in a package of ULD
Transshipment
The transfer of a shipment from one carrier to another in international trade, most frequently from one ship to another. In as much as the unloading and reloading of delicate merchandise is likely to cause damage, transshipments are avoided whenever possible.
Truckload
Truckload rates apply where the tariff shows a truckload minimum weight. Charges will be at the truckload minimum weight unless weight is higher.
Trust Receipt
Release of merchandise by a bank to a buyer for manufacturing or sales purposes in which the bank retains title to the merchandise.
Turnkey Project
Capital construction projects in which the supplier (contractor) designs and builds the physical plant, trains the local personnel on how to manage and operate the facility and presents the buyer with a self-sustaining project (all the buyer has to do is "turn the Key").
UKACC
United Kingdom Air Cargo Club.
ULD
Unit Load Device. Pallet or Container for freight.
Unclean Bill of Lading
A bill containing reservations as to the good order and condition of the goods, or the packaging, or both. Examples "bags torn;" "drums leaking;" "one case damaged;" "rolls chafed."
Unitisation
The packing of single or multiple consignments into ULDs or pallets.
Universal Postal Union
Organization which negotiates international mail charges.
Valuation Charges
Transportation charges assessed shippers who declare a value of goods higher than value of carrier's' limits of liability.
Value
the value of imported merchandise as declared by the importer and as finally determined by the Customs Service.
VAT (Value-Added Tax)
A sales or consumption tax which the end user pays. Typically, this is a "hidden" tax, added to the list price of the goods in question.
Ves.
Vessel
Visa
An invoice properly validated by the Minister of Trade in regard to quota entries. A license issued to an importer by a foreign government pursuant to a quota. When asking for advice from the Customs Service, are you providing the most accurate, up-to-date, information you have on the merchandise
Volume Weight
Used when calculating air freight when the size of the carton is greater than the average weight, calculated by multiplying the length times the width times the height and dividing by 166.
W. & I.
Weighing and Inspection
W.A.
With Average
W.G.
Weight guaranteed
W.P.A.
With Particular Average
W.R.
War Risk
W/M
Weight and/or measurement
W/R
Warehouse receipt
War Risk
The possible aggressive actions against a ship and its cargo by a belligerent government. This risk can be insured by a marine policy with a risk clause
War Risk Insurance
Insurance issued by marine underwriters against war-like operations specifically described in the policy. In former times, war risk insurance was taken out only in times of war, but currently many exporter cover most of their shipments with war risk insurance as a protection against losses from derelict torpedoes and floating mines placed during former wars, and also as a safeguard against unforeseen warlike developments. In the United states, war risk insurance is written in a separate policy from the ordinary marine insurance; it is desirable to take out both policies with the same underwriter in order to avoid the ill effects of a possible dispute between underwriters as to the cause (marine peril or war peril) of a given loss.
Warehouse Receipt
A receipt of commodities deposited in a warehouse, identifying the commodities deposited. It is non-negotiable if permitting delivery only to a specified person or firm, but it is negotiable if made out to the order of a person or firm or to a bearer. Endorsement (without endorsement if made out to bearer) and delivery of a negotiable warehouse receipt serves to transfer the property covered by the receipt serves to transfer the property covered by the receipt. Warehouse receipts are common documents in international banking.
Warehouse- to-Warehouse
A clause in marine insurance policy whereby the underwriter agrees to cover the goods while in transit between the initial point of shipment and the point of destination, with certain limitations, and also subject to the law of insurable interest. When it was first introduced, the warehouse-to-warehouse clause was extremely important, but now its importance is diminished by the marine extension clauses, which override its provisions.
Weight
(a) Gross - The weight of the goods including packing, wrappers, or containers, internal and external. The total weight as shipped (b) Net - The weight of the goods themselves without the inclusion of any wrapper (c) Tare - The weight of the packaging or container (d) Weight / Measurement Ton - In many cases, a rate is shown per weight/measurement ton, carrier's option. This means that the rate will be assessed on either a weight ton or measurement ton basis, whichever will yield the carrier the greater revenue. As example, the rate may be quoted on the basis of 2,240 pounds or 40 cubic feet or of 1 metric ton or 1 cubic meter (e) Weight Ton - There are three types of weight ton; the short ton, weighing 2,000 pounds; the long ton, weighing 2,240 pounds; and the metric ton weight 2,204.68 pounds. The last is frequently quoted for cargo being exported from Europe.
Weight Load Factor
Payload achieved as against available, expressed as a percentage. Cargo is frequently limited by volume rather than weight; load factors of 100% are rarely achieved.
Weight, Legal
Net weight of goods, plus inside packing.
Wet Lease
An arrangement for renting an aircraft under which the owner provides crews, ground support equipment, fuel and so on (of dry lease).
Wharfage
A charge assessed by a pier or dock owner against the cargo or a steamship company for use of the pier or dock.
With Average
A marine insurance term meaning that shipment is protected for partial damage whenever the damage exceeds a stated percentage.
With Particular Average (W.P.A.)
An insurance term meaning that partial loss or damage of goods is insured. Generally must be caused by sea water. Many have a minimum percentage of damage before payment. May be extended to cover loss by theft, pilferage, delivery, leakage, and breakage.
Without Reserve
A term indicating shipper's agent or representative is empowered to make definitive decisions and adjustments abroad without approval of the group or individual represented. See advisory capacity.
X Heavy
Extra Heavy
X Strong
Extra strong
XX Heavy
Double extra heavy
XX Strong
Double extra strong
Y/A
York-Antwerp Rules - A code of rules adopted by an international convention in 1890, amended in 1924 and again in 1950, for the purpose of establishing a uniform basis for adjusting general average. Certain nationalities decline to observe certain of the rules adopted. United States shipping interests generally abide by general rule "F" and numbered rules 1 to 15 and 17 to 22, inclusive and specifically set this forth in a Bill Of Lading Clause
Yield
Revenue, not necessarily profitable, per unit of traffic.
