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- A - |
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TERM |
DEFINITION |
|
10Q |
Thank You |
|
404 |
I have no clue (from the missing web page 404 Error) |
|
411 |
Information |
|
911 |
Emergency |
|
3PL (Third Party Logistics Provider) |
An organization that manages and executes a particular
logistics function, using its own assets and resources, on behalf of another
company. |
|
4PL (Fourth Party Logistics Provider) |
The term "4PL" was
introduced into the supply chain to convey that deep informational
technology skills and deeper analytical skills were required to achieve
supply chain leadership. But the true evolution of the 4PL term is better
defined in context of the global marketplace where outsourced logistics
creates more of a partnership critical to success than a supplier/customer
relationship. Companies in the global marketplace are finding that supply
chain engineered logistics is not a commodity, and understand it is a vital
means to boost their cost savings, enhancing their cash flow and improving
servicing levels for getting their products to market. |
| AA |
Always Afloat
(In some ports the ship aground when approaching, or at berth.) |
| AAAA |
Always Accessible Always
Afloat |
| AAOSA |
Always Afloat or Safe
Aground |
|
AAPA |
American Association of Port Authorities |
| AAR
|
Abbreviation for:
- Against All Risks (insurance clause).
- Association of American Railroads. |
| AARA |
Amsterdan-Antwerp-Rotterdam Area |
|
Abaft |
A point beyond the midpoint of a ships length, towards the
rear or stern. |
|
Abandon |
A proceeding wherein a shipper/consignee seeks authority to
abandon all or parts of their cargo. |
|
Abandonment (Ins) |
Giving up
the proprietary rights in insured property to the Underwriter in exchange
for payment of a constructive total loss. |
|
Abatement |
A discount allowed for damage or overcharge in the payment of
a bill. |
|
ABC Analysis |
Classification
of items in an inventory according to importance defined in terms of
criteria such as sales volume and purchase volume |
|
ABI |
U.S. Customs' "Automated Broker
Interface," by which brokers file importers' entries electronically.
Part of US Customs' Automated Commercial System, permits transmission of
data pertaining to merchandise being imported into US. Qualified
participants include brokers, importers, carriers, port authorities, and
independent data processing companies. |
|
Able Bodied Seaman |
A member of the deck
crew who is able to perform all the duties of an experienced seaman;
certificated by examination; must have three years sea service. Also called
Able Seaman and A.B. |
|
Aboard |
Referring to cargo being put, or laden, onto a means of
conveyance. |
| Above Deck |
On the deck |
|
Absorption |
One carrier assumes the charges of another without any
increase in charges to the shipper.
Acceptance
by the carrier of a portion of a joint rate or charge which is less than the
amount which it would receive for the service in the absence of such joint
rate or charge (aircargo). |
|
ABS |
American Bureau of
Shipping: A U.S.-based private classification, or standards setting society
for merchant ships and other marine systems. |
| ABT |
About |
|
Abusive Draw |
Drawing on a standby
letter of credit/demand guarantee when no violation of the underlying
contract has occurred. |
|
Acceptance |
- A time draft (or bill of exchange)
that the drawee (payer) has accepted and is unconditionally obligated to pay
at maturity.
- Broadly speaking, any agreement to purchase goods under specified terms. |
|
Acceptance of Goods |
The
process of receiving a consignment from a consignor, usually against the
issue of a receipt. As from this moment and on this place the carrier's
responsibility for the consignment begins. |
|
Accessibility |
A
carrier's ability to provide service between an origin and a destination |
|
Accessorial Charges |
Charges that are applied to the base
tariff rate or base contract rate, e.g., bunkers, container, currency,
destination/delivery. |
|
Accident (Ins) |
An
unexpected fortuitous event, unforeseen and unintended, not under the
control of an insured and resulting in a loss. |
|
Accident Frequency
(Ins) |
The number
of times an accident occurs. Used in predicting losses upon which premiums
are based. |
|
Accompanied Transport |
The
transport of complete road vehicles by another means of transport (e.g.
train, ferry) accompanied by the driver. |
|
Account Party |
Party for whom a letter
of credit is opened. "Account party" and "applicant" are generally
synonymous, but sometimes one party will agree with the issuing bank to make
all payments under a letter of credit showing the name of another party
(often two affiliated companies). Banks may refer to one of these parties as
the applicant and the other as the account party, but there is no
consistency among banks regarding which is which. |
|
Accumulation |
When a large value of goods move on one vessel-truck-aircraft,
though the odds of an accident or damage occurring do not increase, the
severity of any loss is far greater because such a large value is at risk on
that one transport.
Because of this, insurance rates may be higher for such a shipment
than if the goods were spread over several movements because the loss of
this one transport would result in such a large loss. |
|
ACEP |
See "Approved Continuous Examination Program" |
|
ACH |
Automated Clearinghouse is a feature of US Customs' Automated Broker
Interface combining elements of bank lock box arrangements with electronic
funds transfer services to replace cash or check for payment of estimated
duties, taxes and fees on imported merchandise. |
|
Acknowledgement of Receipt |
A notification
relating to the receipt of e.g. goods, messages and documents. |
|
ACP |
Alternative Compliance
Program |
|
Acquiescence |
When a bill of lading is accepted or signed by a shipper or
shipper's agent without protest, the shipper is said to acquiesce to the
terms, giving a silent form of consent. |
|
Acquittance |
A written receipt in full, in discharge from all claims. |
|
ACS (A.C.S.) |
U.S. Customs' master computer system, "Automated Commercial
Systems." |
|
Act of God |
An act beyond human control, such as lightning, flood or
earthquake. A calamity beyond human control which happens to property — lightning, for
example. Damage done by an Act of God would not be the responsibility of a
bailee, although he/she might be responsible for many other calamities. Acts of
God are excluded by the usual bill of lading and, to the extent not specifically
assumed, by insurance policies. |
|
Act Of God (Ins) |
A flood, an
earthquake or other accident or event that is without any human intervention
and that could not have been prevented by reasonable care or foresight, but
is the result of natural causes (A snowstorm is an Act of God; driving in
one is an act of man). |
|
Action Message |
An alert
that a software system generates to inform the controller of a situation
requiring his or her attention |
|
Active Stock |
Goods in
active pick locations and ready for order filling |
|
Activity Based Costing |
A method
of cost management that identifies business activities performed,
accumulates costs associated with these activities, and uses various cost
drivers to trace costs of activities to the products |
|
Actual Cash Value (Ins) |
The sum of
money required to pay for damages or lost property, computed on the basis of
replacement value less its depreciation by obsolescence or general wear. |
|
Actual Total Loss (Ins) |
Occurs
when:
(1) the insured property is completely destroyed or
(2) the Assured is irretrievably deprived of the insured property or
(3) cargo changes in character so that it is no longer the thing that was
insured or
(4) a ship is posted "missing" at Lloyd's, in which case both the ship
and its cargo are deemed to be an actual total loss. |
|
Actual Voyage Number |
A code for
identification purposes of the voyage and vessel which actually transports
the container/cargo. |
|
Ad Valorem |
A term from Latin meaning, "according to value." |
| ADCOM |
Addresse Commission |
|
Added Value |
The value
attributed to products, and services as the result of a particular process
(e.g. production process, storage, transport). |
| Addendum |
Additional clause or terms
in a contract |
|
Additional Insured (Ins) |
A person or
firm or corporation other than the named insured on a policy or mortgage
company named in a mortgagee clause, who is protected against loss by the
terms of the policy or mortgage company named in the mortgage clause. |
|
Add Ons (Ins) |
Additional
coverages to your basic policy. |
|
Adjuster (Ins) |
An
individual representing the insurance company and acting for the company in
working on agreements as to the amount of a loss and the liability of the
company in same. |
|
Admeasurement |
The confirmed or
official dimensions of a ship |
|
Administrative Law Judge |
A representative of a government commission or agency vested
with power to administer oaths, examine witnesses, take testimony, and
conduct hearings of cases submitted to, or initiated by, that agency. Also
called Hearing Examiner. |
|
Admiralty (Adm.) |
Refers to marine matters such as an Admiralty Court.
|
| Admiralty Courts |
Courts of law that deal with matters pertaining to the sea. |
|
ADN |
Any Day Now |
|
ADR |
See "Articles
Dangereux de Route" |
|
Advance |
To move cargo up line to a vessel leaving sooner than the one
booked. (See "Roll.") |
|
Advance Arrangement |
Agreement
between the shipper and the carrier, concerning contacts between those
parties prior to tendering the consignment. |
|
Advanced Amount |
Quantity
of cash or cash equivalents expressed in a monetary amount given to a driver
to cover expenses during a trip. |
|
Advanced Charge |
Transportation charge advanced by one carrier to another to be
collected by the later carrier from the consignor or consignee. |
|
Advanced Interline |
An
interline carrier that picks up cargo from the shipper and delivers it to
another carrier for shipment to the consignee. |
|
Advanced Multihull Design (AMD) |
Description of vessel with more than one hull - catamaran or trimaran |
|
Advanced Shipment Notice |
A list
transmitted to a customer or consignor designating items shipped. May also
include expected time of arrival |
|
Advance Freight |
Partial
payment of the bill of lading freight in advance; in other respects is the
same as guaranteed freight. |
|
Advance Payment |
Funds given by the buyer
of goods to the seller prior to shipment, often just a percentage of the
value of the goods with the remainder paid after shipment. |
|
Advance Payment Bond |
Bond, guarantee, or
standby letter of credit given by a seller receiving an advance payment to
the buyer to assure that the funds will be returned if goods are never
shipped. |
|
Adventure |
Shipment of goods on shipper's own account. A bill of
adventure is a document signed by the master of the ship that carries goods at
owner' risk. |
|
Adverse Selection (Ins) |
Selection
against the insurance company; the tendency of more poor risks to buy and
maintain insurance than good risks. |
|
Advice Note |
A written
piece of information e.g. about the status of the goods. |
|
Advice of Shipment |
A notice sent to a local or foreign buyer advising that
shipment has gone forward and containing details of packing, routing, etc. A
copy of the invoice is often enclosed and, if desired, a copy of the bill of
lading. |
|
Advising Bank |
A bank operating in the seller's country, that handles letters
of credit in behalf of a foreign bank. |
|
Aeroquip System |
Special
accessories in a container consisting of among others the attachment rails
on the inside walls to provide facilities for lashing and separation of the
cargo. |
|
AFAIK |
As Far As I Know |
|
Affiliate |
A company
that controls, or is controlled by another company, or is one of two or more
commonly controlled companies. |
|
AFK |
Away From Keyboard |
|
Affreightment, Contract of |
An agreement by an ocean carrier to provide cargo space on a
vessel at a specified time and for a specified price to accommodate an exporter
or importer. |
|
AFSPS |
Arrival First Sea Pilot Station |
|
Aft |
Movement toward the stern (back end) of a ship. |
|
Agency Fee |
A fee charged to the
ship by the ship's agent, representing payment for services while the ship
was in port. Sometimes called attendance fee. |
|
Agency Tariff |
A tariff published by an agent on behalf of several carriers. |
|
Agent (Agt.)
|
-
A person
or organization authorized to act for or on behalf of another person or
organization.
- In shipping, an agent is a corporate body with which UNION-TRANSPORT
has an agreement to perform particular functions on behalf of
UNION-TRANSPORT at an agreed payment. An agent is either part of the
UNION-TRANSPORT network or an independent body.
The following functions and responsibilities may apply
to the activities of an agent:
1. SALES
Marketing, acquisition of cargo, issuing quotations, concluding contracts in
coordination with UNION-TRANSPORT. In essence the agent is the first point
of entry into the UNION-TRANSPORT organization for a shipper.
2. BOOKINGS Booking of cargo in accordance with allotments assigned to the
agent for a certain voyage by UNION-TRANSPORT.
3. DOCUMENTATION Responsible for timeliness and correctness of all
documentation required, regarding the carriage of cargo.
4. HANDLING Taking care of all procedures connected with physical handling
of cargo.
5. EQUIPMENT CONTROL Managing of all equipment stock in a particular area.
6. ISSUING Authorized to sign and issue Bills of Lading and other transport
documents.
7. COLLECTING Authorized to collect freight and charges on behalf of
UNION-TRANSPORT.
8. DELIVERY The agent who releases the cargo and is responsible for its
delivery to the consignee.
9. HANDLING OF CARGO CLAIMS Handling of cargo claims as per agency contract.
10. HUSBANDING Handling non cargo related operations of a vessel as
instructed by the master, owner or charterer. |
|
Agglomeration |
A net
advantage a company gains by sharing a common location with other companies. |
|
Aggregate Shipment
|
Numerous shipments from different shippers to one consignee
that are consolidated and treated as a single consignment. |
|
Aggregate Tender Rate |
A reduced
rate offered to a shipper who tenders two or more class-related shipments at
one time and one place. |
|
Agreed valuation |
The value of a shipment agreed upon in order to secure a
specific freight rate. |
|
Agreed Weight |
The weight prescribed by agreement between carrier and shipper
for goods shipped in certain packages or in a certain number. |
|
Aground |
Touching or fast to the bottom. |
|
AGVS |
See "Automated Guided Vehicle System" |
|
A.G.W. |
All Going Well |
|
A.I. |
All Inclusive |
|
Aids to Navigation |
Artificial objects to supplement natural objects indicating safe
and unsafe waters. |
|
A.I.D.
|
Agency for International Development. |
|
Air Cargo |
Freight
that is moved by air transportation |
|
Air Carrier |
An
enterprise that offers transportation service via air - airline |
|
Air Taxi |
An exempt
for-hire air carrier that will fly anywhere on demand; air taxis are
restricted to a maximum payload and passenger capacity per plane |
|
Air Cargo Agent |
An agent
appointed by an airline to solicit and process international airfreight
shipments. |
|
Air Cargo Containers |
Containers
designed to conform to the inside of an aircraft. There are many shapes and
sizes of containers. Aircargo containers fall into three categories: 1)
aircargo pallets 2) lower deck containers 3) box type containers. |
|
Air Container |
Any unit
load device, primarily intended for transport by air, having an internal
volume of 1 cubic meter or more, incorporating restraint provisions
compatible with an aircraft restraint system, and an entirely flush base
bottom to allow handling on rollerbed cargo handling systems. |
|
Airwaybill (AWB) |
Document made out by or on behalf of the carrier confirming receipt of goods
by carrier and evidencing contract between shipper and carrier for the
carriage of goods. |
|
AIS |
Automatic Identification
System |
|
All Cargo Carrier |
An air
carrier that transports cargo only |
|
All In |
The total price to move cargo from origin to destination,
inclusive of all charges. |
|
Allision |
The act of striking or
collision of a moving vessel against a stationary object. |
|
Allocation |
The
process of assigning activities, costs or facilities e.g. space to a certain
organizational units. |
|
All Other Perils & Misfortunes |
Phrase in Cargo policy meaning perils of the same nature as those described
specifically in the Perils clause. |
|
Allotment |
A share of the
capacity of a means of transport assigned to a certain party, i.e. a carrier or
an agent, for the purpose of the booking of cargo for a specific voyage. |
|
All Risk(s) (Ins) |
- All Risk Coverage - broadest kind of standard coverage but excludes
damage caused by war, strikes or riots (civil commotions).
-
Insurance against loss or damage to property arising from any fortuitous cause,
except such as may be specifically excluded. |
|
All Water |
Term used when
the transportation is completely by water |
|
Alongside |
A phrase referring to the side of a ship. Goods delivered
"alongside" are to be placed on the dock or barge within reach of the transport
ship's tackle so that they can be loaded. |
|
Alternative Rates |
Privilege to use the rate producing the lowest charge. |
|
Ambient Temperature
|
The temperature of a surrounding body. The ambient temperature
of a container is the atmospheric temperature to which it is exposed. |
|
AMC |
American Maritime Congress |
|
AMD |
-Advanced Multihull Design
-Amended |
|
Amended (AMD) |
Change to a document or clause - normally initialed and dated to show all
parties accepted and approved the Amendment |
|
American Bureau of Shipping |
U.S. classification society which certifies seagoing vessels
for compliance to standardized rules regarding construction and maintenance. |
|
American National Standards Institute
(ANSI) |
ANSI was
founded in 1918 to coordinate national standards in the U.S. ANSI is the
central body responsible for the identification of a single consistent set
of voluntary standards called American National Standards. ANSI provides an
open forum for the identification of standards requirements, development of
plans to meet those requirements, and agreement on standards. ANSI itself
does not develop standards. In 1979 ANSI chartered a new committee, which in
now known as Accredited Standards Committee (ASC) X12 Electronic Data
Interchange, to develop uniform standards for electronic interchange of
business transactions. |
| Amidships |
In or toward the center of the ship. |
|
AMS |
The U.S. Customs' "Automated Manifest System." |
|
Anchorage |
Site where a ship drops anchor. |
|
Ancillary Guarantee |
Type of guarantee where the
guarantor joins with one of the parties to the contract and agrees to fulfill
that party’s obligations if necessary, effectively co-signing the contract. As
opposed to an independent or demand guarantee, under an ancillary guarantee the
guarantor also acquires rights under the contract and may resort to terms in the
contract to dispute claims against the guarantee. Also called a "contract
guarantee." Although banks in the U.S. are generally prohibited by law from
issuing ancillary guarantees, banks in other countries are not. US banks instead
issue demand guarantees or standby letters of credit. |
|
ANSI |
See "American National Standards Institute" |
|
ANTHAM |
Anterp-Hamburg Range |
|
Anti-Dumping Duty |
A tariff imposed to discourage sale of foreign goods,
subsidized to sell at low prices detrimental to local manufacturers. |
|
Any Quantity (A.Q.) |
Usually refers to a rating that applies to an article
regardless of size or quantity. |
|
Apparel |
- A
vessel's outfit, such as rigging, anchor and life boats
- Term used in distribution/transport of clothing for a single piece of
clothing, a garment. |
|
Apparent Good Order |
When freight appears to be free of damage so far as a general
survey can determine. |
|
Application (Ins) |
A signed
statement by a prospective insured client which becomes a part of the
insurance contract. |
|
Application Service Provider (ASP) |
An online
outsourcer or hosting service for applications, letting Net market makers
rent instead of buying applications and services such as auctions, exchanges
and catalog aggregation. Many application vendors are moving to a hosting
model, but ASPs are often application-agnostic, plugging a feature of one
application into a marketplace when appropriate and using another feature
from another vendor elsewhere. |
|
Appraisement
|
Determination of the dutiable value of imported merchandise by
a Customs official who follows procedures outlined in their country's tariff,
such as the U.S. Tariff Act of 1930. |
|
Appraiser's Stores |
The warehouse or public stores to which samples of imported
goods are taken to be inspected, analyzed, weighed, etc. by examiners or
appraisers. |
|
Approval - Documents Sent On |
Treatment of letter of
credit documents wherein the negotiating bank does not certify that the
documents meet the requirements of the L/C, but rather forwards the
documents to the issuing bank with a request that it examine the documents,
obtain waiver of any discrepancies, and pay, or, in the case of time drafts,
accept the drafts, if drawn on them, or authorize acceptance by the drawee
bank. |
|
Approved Continuous Examination Program
(ACEP) |
An
agreement between the owners of the equipment and the responsible
governmental body to allow continuous examination of the equipment (e.g.
containers). |
|
Appraisal (Ins) |
A survey of
property made for determining its insurable value or the amount of loss
sustained. |
|
APS |
Arrival Pilot Station |
|
ARAG |
Amsterdam-Rotterdam-Antwerp-Ghent Range |
|
Arbitrage |
The buying of
foreign exchange, securities, or commodities in one market and the simultaneous
selling in another market, in terms of a third market. By this manipulation a
profit is made because of the difference in the rates of exchange or in the
prices of securities or commodities involved. |
|
Arbitrary |
A stated amount over a fixed rate to one point to make a rate
to another point. |
| Arbitration |
Method of settling disputes where a neutral third party mediates differences.
Arbitration is normally binding on all parties. |
|
ARE |
Acronym Rich Environment |
|
Area of Repair |
Geographical
area where a container is under repair |
|
Area Off Hire Lease |
Geographical area where a leased container becomes off hire |
|
Area Off Hire Sublease |
Geographical area where a subleased container becomes off hire |
|
Area On Hire Lease |
Geographical area where a leased container becomes on hire |
|
Area On Hire Sublease |
Geographical area where a subleased container becomes on hire |
|
Arrival Notice |
A notification by carrier of ship's arrival to the consignee,
the "Notify Party," and - when applicable - the "Also Notify Party." These
parties in interest are listed in blocks 3, 4 and 10, respectively, of the Bill
of Lading. |
|
Articles
Dangereux de Route (ADR) |
An European agreement concerning the international carriage of
dangerous goods by road. |
|
Articles of Agreement |
The
document containing all particulars relating to the terms of agreement
between the master of the vessel and the crew. Sometimes called ship's
articles, shipping articles. |
|
A/S |
Alongside |
|
ASAP |
As Soon As Possible |
|
ASBA |
American Shipbokers Association |
|
ASC X12 |
American Standards Committee X12 responsible for developing
EDI standards for the United States. |
|
ASN |
See "Advanced Shipment Notice" |
|
ASP |
See "Application Service Provider" |
|
ASPW |
Any Safe Port in the World |
|
ASRS |
See "Automated Storage & Retrieval System" |
|
Assailing Thieves |
Forcible taking of property but not sneak thievery. |
|
Assembly |
The stage of
production in which components are put together into an end product appropriate
to the process concerned. |
|
Assignment
|
A term commonly used in connection with a bill of lading. It
involves the transfer of rights, title and interest in order to assign goods by
endorsing the bill of lading. |
|
Assignment (Ins) |
The passing
of beneficial rights from one party to another. |
|
Assignment of Proceeds |
Legal mechanism by which
the beneficiary of a letter of credit may pledge the proceeds of future
drawings to a third party. Assigning proceeds involves giving the letter of
credit to a bank, which will hold the L/C until drawn upon, along with
irrevocable instructions to the bank to disburse proceeds, when generated,
in a specified way, e.g., "pay 75% of each drawing to XYZ Company."
The bank will acknowledge the assignment to the assignee but has no
obligation actually to pay any funds to the assignee unless the L/C is drawn
upon by the beneficiary and payment is received from the issuing or
confirming bank. An assignment of proceeds is not an assignment or transfer
of the letter of credit and the assignee acquires no rights to perform under
the L/C in order to generate funds. |
|
Assumed liability (Ins) |
Liability
which would not rest upon a person except that he has accepted
responsibility by contract expressed or implied. This is also known as
contractual liability. |
|
Astern |
- Behind a vessel
- Move in a reverse direction. |
|
A.T.A. |
- American Trucking
Association
- Actual Time of Arrival |
|
ATD |
Actual Time of Departure |
|
ATDNSHINC |
Any time Day or Night Sundays & Holidays Included. |
|
ATFI |
Automated
Tariff Filing Information System |
|
Athwartships |
A direction across the width of a vessel. |
|
At Sea |
In marine insurance this
phrase applies to a ship which is free from its moorings and ready to sail. |
|
ATUTC |
Actual Times Used To Count |
|
Auctions |
Let multiple
buyers bid competitively for products from individual suppliers. Suitable for
hard-to-move goods such as used capital equipment (forklifts) and surplus or
excess inventory. Prices only move up, but buyers can buy below list prices
while sellers sell for more than a liquidator pays. Auctions are becoming a
feature of many Net markets, but some use auctions as their primary market
mechanism. Examples: AdAuction, TradeOut.com (used equipment). |
|
Audit |
In reference
to freight bills, the term audit is used to determine the accuracy of freight
bills. |
|
Auditing |
Determining
the correct transportation charges due the carrier; auditing involves checking
the freight bill for errors, correct rate, and weight. |
|
Authentication |
Proof by means
of a signature or otherwise that a certain document or certain data is of
undisputed origin and genuine. |
|
Authorization |
The commission
to a certain person or body to act on behalf of another person or body. The
person or body can be authorized e.g. to issue Bills of Lading or to collect
freight. |
|
Auto Container |
Container
equipped for the transportation of vehicles. |
|
Automated Broker Interface (ABI) |
Part of US Customs' Automated Commercial System, permits transmission of data
pertaining to merchandise being imported into US. Qualified participants include
brokers, importers, carriers, port authorities, and independent data processing
companies. |
|
Automated Clearinghouse (ACH) |
Automated Clearinghouse is a feature of the Automated broker Interface combining
elements of bank lock box arrangements with electronic funds transfer services
to replace cash or check for payment of estimated duties, taxes and fees on
imported merchandise. |
|
Automated Guided Vehicle System |
A
computer-controlled materials handling system consisting of small vehicles
(carts) that move along a guideway |
|
Automated Storage & Retrieval System |
An automated,
mechanized system for moving merchandise into storage locations and retrieving
it when needed. |
|
Automatic Identification |
A means of
identifying an item e.g. a product, parcel or transport unit by a machine
(device) entering the data automatically into a computer. The most widely used
technology at present is bar code; others include radio frequency, magnetic
stripes and optical character recognition |
|
Automatic Pilot |
An instrument designed to
control automatically a vessel's steering gear so that it follows a
pre-determined track through the water. |
|
Aval |
Guarantee added by a bank to
an accepted time draft by endorsing the front of the draft "per aval." The
avalizing bank becomes obligated to pay the draft at maturity if the drawee/acceptor
fails to do so. |
|
Avalized Draft |
Trade acceptance to which an
aval has been added |
|
Average |
Any partial loss or damage, due to insured perils. |
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Average (Ins) |
A marine
partial loss. This can be particular average or general average |
|
Average Adjuster |
An adjuster of marine losses.
In general
average affairs average adjusters are entrusted with the task of apportioning
the loss and expenditure over the parties interested in the maritime venture and
to determine which expenses are to be regarded as average or general average |
|
Average Agreement |
Document signed by cargo owners by terms of which they agree to pay any General
Average contribution properly due so that cargo may be released after a General
Average loss has occurred. |
|
Average Clauses |
Clauses in Cargo policy that determine the amount of Particular Average loss
recovery. |
|
Average Clause (Ins) |
A clause in a
marine insurance policy, whereby partial losses are subject to special
conditions (e.g. a franchise or deductible is to be applied to claims). |
|
Average Cost |
Total cost,
fixed plus variable, divided by total output |
|
Average Irrespective of Percentage |
Broadest "with average" clause. Losses by insured perils are paid regardless of
percentage. |
| Avoirdupois
Pound |
Same as 0.4535924277 kilograms. |
|
AWB |
Airwaybill:
Document made out by or on behalf of the carrier confirming receipt of goods
by carrier and evidencing contract between shipper and carrier for the
carriage of goods. |
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Awkward Cargo |
Cargo of
irregular size that is either containerized or un-containerized. It requires
prior approval, depending on the circumstances, before confirmation of
booking. |
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AWWL
|
Always within Institute Warranties Limits (Insurance purpose). |
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DISCLAIMER: These terms and definitions have been gathered
from many sources public and private. This list is designed to serve as a
reference. No warranty for the accuracy is stated nor implied. |
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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms
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5 Steps + 2
Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O -
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-- We have Logistics AllCovered -- |
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These terms, abbreviations
and descriptions have been gathered from many sources
online and in print. No warranty for their accuracy is stated nor implied. |
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Last Updated:
Monday, 08 June 2009 13:21:58 -0500 |
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