| |
|
- D - |
|
TERM |
DEFINITION |
| DA |
Disbursement Account |
|
D/A |
Documents Against Acceptance - Instructions given by a shipper
to a bank indicating that documents transferring title to goods should be
delivered to the buyer only upon the buyer's acceptance of the attached
draft. |
| DAF |
Delivered At Frontier |
|
Damage Report |
Form on
which physical damage is recorded (e.g.containers). |
|
Damaged Cargo Report |
Written
statement concerning established damages to cargo and/or equipment. |
| DAMFORDET |
Damages For Detention -
Penalty if cargo is not
ready when ship arrives for working (1st day of Laycan). This is not
detention which is charged for ships time on delay. If the cargo is ready
there is no DAMFORDET. |
|
D/P |
See "Documents Against Payment" -
Instructions a shipper gives to his bank that the documents attached to a
draft for collection are deliverable to the drawee only against his payment
of the draft. |
| DAPS |
Days All Purposes (Total days for loading
& unloading) |
|
D&H |
Abbreviation
for "Dangerous and Hazardous" cargo. |
|
Dangerous Goods |
Goods to be considered dangerous if transport of such might cause harm,
risk, peril or other evil to people, environment, equipment or property. |
|
Dangerous Goods Declaration |
Document issued by Consignor in accordance with applicable conventions or
regulations describing hazardous goods (see also HAZMAT) or materials for
transport purposes and stating that latter have been packed and labeled in
accordance with the provisions of relevant conventions and regulations. |
|
Dangerous Goods Packing Certificate |
Document as part of dangerous goods declaration in which responsible party
decalres cargo has been stowed in accordance with rules in compliance with
regulations and properly secured. |
|
Data Plate |
A metal
identification plate affixed to a container which displays among others the
gross and tare weights and external dimensions. |
|
Davits |
Two radial cranes on a
ship which hold the lifeboats. They are constructed in such a way as to
lower and lift the lifeboats the easiest way possible and are also
unobstructed in case of an emergency. |
|
Days of Grace |
The number of days the
acceptor of a draft may go past due before being judged in default and
triggering any guarantor to pay on the acceptor’s behalf. When an avalized
draft is sold to a forfaiter, the forfaiter will impute the days of grace
into the financing period. |
|
D.B.A. |
Abbreviation for "Doing Business As." A legal term for
conducting business under a registered name. |
|
DBA |
Doing Business As (In Chat or Email reference may
refer to someone using a fake name) |
|
DDC |
Abbreviation for "Destination Delivery Charge." A charge,
based on container size, that is applied in many tariffs to cargo. This charge
is considered accessorial and is added to the base ocean freight. This charge
covers crane lifts off the vessel, drayage of the container within the terminal
and gate fees at the terminal operation. |
|
DDP |
Delivered Duty Paid - While the term "Ex Works"
signifies the seller's minimum obligation, the term "DDP - Deliver Duty Paid",
when followed by words naming the buyer's premises, denotes the other extreme --
the seller's maximum obligation. The term "Deliver Duty Paid" may be used
irrespective of the mode of transport. If the parties wish that the seller
should clear the goods for import but that some of the cost payable upon the
import of the goods should be excluded -- such as value added tax (VAT) and/or
other similar taxes -- this should be made clear by adding words to this effect
(e.g., "exclusive of VAT and/or taxes"). |
|
DDU |
Deliver Duty Unpaid - Similar to DDP except Buyer pays Import Duties. |
|
Deadhead |
One leg of a move without a paying cargo load. Usually refers
to repositioning an empty piece of equipment. |
|
Deadload |
The
difference between the actual and calculated ship's draft. |
|
Deadweight Cargo |
A long ton of cargo that can be stowed in less than 40 cubic
feet. |
|
Deadweight |
The number of tons of 2,240 pounds that a vessel can transport
of cargo, stores and bunker fuel. It is the difference between the number of
tons of water a vessel displaces "light" and the number of tons it displaces
when submerged to the "load line." |
|
Decentralized Authority |
A
situation in which a company management gives decision-making authority to
managers at many organizational levels. |
|
Decision Support System (DSS) |
A set of
computer oriented tools designed to assist managers in making decisions. |
|
Deck |
A permanent covering over a compartment or hull. More Broadly:
Any extended
horizontal structure in a vessel or an aircraft, serving as a floor and
structural support, covering, partially or fully, a portion of the vessel or
aircraft. |
|
Deck Cargo |
Cargo carried
outside rather than within the enclosed cargo spaces of a vessel. |
|
Declaration |
Form filled out by assured and sent to the insurance company when reporting
individual shipments coming within the terms of an Open policy. |
|
Declaration of Dangerous Goods |
See "Dangerous Goods Declaration" |
|
Declaration by Foreign Shipper |
The U.S. Customs Service defines this term as a
statement by the shipper in the foreign country attesting to certain facts. For
example, articles shipped from the United States to an insular possession and
then returned must be accompanied by a declaration by the shipper in the insular
possession, indicating that, to the best of his or her knowledge, the articles
were exported directly from the United States to the insular possession and
remained there until the moment of their return to the United States. |
|
Declaration of Origin |
Appropriate
statement as to the origin of the goods, made in connection with their
exportation by the manufacturer, producer, supplier, exporter or other competent
person on the commercial invoice or any document relating to goods. |
|
Declaration Page (Ins) |
That page of
the insurance policy which lists the insurance company, its address, name of the
policyholder, starting and ending dates of coverage, and the actual coverages
given in the contract, including the locations and amounts. |
|
Declared Value for Carriage |
The value of
the goods, declared by the shipper on a bill of lading, for the purpose of
determining a freight rate or the limit of the carrier's liability. |
|
Deconsolidation Point |
Place where loose or other non-containerized cargo is
ungrouped for delivery. |
|
Deconsolidator |
An
enterprise that provides services to un-group shipments, orders, goods,
etc., to facilitate distribution. |
|
Decoupling Inventory |
A stock
retained to make the independent control of two successive operations
possible. |
|
Decoupling Point |
The point
in the supply chain which provides a buffer between differing input and
output rates. |
|
Dedicated Truck |
Truck assigned exclusively to one shipment for security or other reasons. |
|
Deductible |
The amount of
loss paid by the policyholder before the insurance policy benefits become
payable. Also known as "Excess," or "Franchise." |
|
Deep Stowage |
Any bulk, bagged or other
type of cargo stowed in single hold ships. |
|
Deep Tank |
Tank fitted
and equipped for the carriage of vegetable oil (e.g. palm oil and coconut oil)
and other liquids in bulk. By means of oil-tight bulkheads and/or decks it is
possible to carry different kinds of liquid in adjacent tanks. Deep tanks may be
equipped with heating facilities in order to carry and discharge oil at the
required temperature (shipping). |
|
Default Charge |
- A (standard)
charge applicable for a trade, stretch or location.
- In the absence of specifics (not otherwise specified/enumerated) a general
amount has been set. |
|
Defective Goods Inventory (DGI) |
Those items
that have been returned, have been delivered damaged and have a freight claim
outstanding, or have been damaged in some way during warehouse handling. |
|
Deferred Payment |
Payment a set period of time
after shipment or presentation of shipping documents, as opposed to immediately
or "at sight." A distinction is drawn between a letter of credit that is
available for deferred payment and one that is available for acceptance of time
drafts in that no drafts are involved under a deferred payment L/C. Without
accepted drafts, the beneficiary’s ability to sell, or "discount," his right to
payment to a lender or investor is restricted. |
|
Deferred Reimbursement |
Arrangement under a letter
of credit where the issuing bank agrees up front with its customer, the
applicant, to pay the beneficiary upon presentation of the documents required in
the L/C but to defer charging the applicant until a later date, thereby
financing the purchase of goods under the L/C, usually for the expected amount
of time the applicant needs in order to re-sell the goods. |
|
Deficit Weight |
The weight by which a shipment is less than the minimum
weight. |
|
Degroupage |
Splitting
up shipments into small consignments. |
|
Delay |
Even under
All Risk coverage, damage due to delay is not recoverable. Most underwriters
have inserted a "Delay Cause" in the Open Cargo Policy, which states
specifically that damage caused by delay is not recoverable even if the
delay was due to a peril insured against. |
|
Delivering Carrier |
The
carrier who delivers the consignment to the consignee or his agent (aircargo). |
|
Delivered At Frontier (DAF) |
"Delivered at Frontier" means that the seller's
obligations are fulfilled when the goods have arrived at the frontier -- but
before "the customs border" of the country named in the sales contract. The
term is primarily intended to apply to goods by rail or road but is also
used irrespective of the mode of transport. |
|
Delivery |
The
process of delivering the consignment to the consignee at the agreed place. |
|
Delivery Appointment |
The time
agreed upon between two enterprises for goods or transportation equipment to
arrive at a selected location. |
|
Delivery Instructions |
Order to pick up goods at a named place and deliver them to a
pier. Usually issued by exporter to trucker but may apply to a railroad, which
completes delivery by land. Use is limited to a few major U.S. ports. Also known
as shipping delivery order. |
|
Delivery Note |
A document
recording the delivery of products to a consignee (customer). |
|
Delivery Order |
Issued by
the consignee or his customs broker to the ocean carrier as authority to
release the cargo to the inland carrier. Includes all data necessary for the
pier delivery clerk to determine that the cargo can be released to the
domestic carrier. |
|
Delivery Party |
The party
to which goods are to be delivered. |
|
Delivery Reliability |
The
proportion of total delivery occasions in which the time, place, quality and
quantity of products delivered accords with the order. |
|
Delivery Schedule |
The
required and/or agreed time of delivery of goods or services, purchased for
a future period. |
|
Delivery Time |
The time
between order and delivery. |
|
Delivery Verification Certificate |
The U.S. Customs Service defines a DVC as a
form used to track imported merchandise from the custody of the importer to
the custody of a manufacturer and is used to substantiate a manufacturing
drawback claim. The DVC is also known as a Certificate of Delivery. |
|
DEM |
Demurrage - Money paid to shipper for occupying port space beyond a specified
"free time." |
|
Demand |
The quantity
of goods required by the market to be delivered in a particular period or at a
specific date. |
|
Demand Guarantee |
Type of guarantee that is
payable immediately upon presentation of documents specified, without inquiry as
to the validity of the documents or into compliance with the underlying
contract, as opposed to an "ancillary guarantee." Also called an "independent
guarantee." Although there are separate rules of practice for demand guarantees
and letters of credit, they are both considered letters of credit under US law. |
|
DEMDES |
Demurrage/Despatch money. (Under vessel chartering terms, the
amount to be paid if the ship is loading/discharging slower/faster than
foreseen.) |
|
Demise
Charter |
See "Bareboat Charter" -
- A contract whereby the ship owner leases his vessel to the charterer for a
period of time during which the whole use and management of the vessel
passes to the charterer, which involves that the charterer is to pay all
expenses for the operation and maintenance of the vessel. Officers and crew
will become servants of the charterer.
- A demise charter whereby the charterer has the right to place his own
master and crew on board of the vessel is also called 'bareboat charter'.
|
|
Demurrage |
A penalty charge against shippers or consignees for delaying
the carrier's equipment beyond the allowed free time. The free time and
demurrage charges are set forth in the charter party or freight tariff.
- See also Detention and Per Diem. |
|
Density |
The weight of cargo per cubic foot or other unit.
A physical
characteristic measuring a commodity's mass per unit volume or pounds per cubic
foot; an important factor in ratemaking, since density affects the utilization
of a carrier's vehicle. |
|
Density Rate |
A rate based
upon the density and shipment weight. |
|
Dependant Demand |
A demand
directly related to or derived from the demand for other items or end products.
Dependent demands are therefore calculated, and need not and should not be
forecast. |
|
Deposit of Estimated Duties |
This refers to antidumping duties which must be
deposited upon entry of merchandise which is the subject of an antidumping duty
order for each manufacturer, producer or exporter equal to the amount by which
the foreign market value exceeds the United States price of the merchandise. |
|
Depot |
The place
designated by the carrier where empty containers are kept in stock and received
from or delivered to the container operators or merchants. |
|
Depot, Container |
Container freight station or a designated area where empty
containers can be picked up or dropped off. |
|
Depreciation (Ins) |
Decrease in
the value of any type of tangible property over a period of time resulting
from use, wear, tear, deterioration, and obsolescence. |
|
DEQ |
Delivered Ex Quay |
|
Derangement (Mechanical) (Ins) |
Mechanical and/or Electrical
derangement is an insurance industry term to describe malfunction, or
non-function, of an appliance for reasons other than obvious external damage.
From time to time, an
electronic or mechanically operated item will prove to be inoperable upon
arriving at its destination. See: "Mechanical Derangement" |
|
Deregulation |
Revisions or
complete elimination of economic regulations controlling transportation. The
Motor Carrier Act of 1980 and the Staggers Act of 1980 revised the economic
controls over motor carriers and railroads, and the Airline
Deregulation Act of 1978 eliminated economic controls over air carriers. |
|
Derived Demand |
The demand for
a product's transportation is derived from the product's demand at some
location. |
|
Derrick |
Lifting
equipment on board a conventional vessel for loading and discharging cargo,
consisting of a post attached to the deck and an inclined spar. |
|
DES |
Delivered Ex Ship |
|
DESP/DISP |
Despatch/Dispatch |
|
Despatch/Dispatch |
An incentive payment paid to a carrier to loading and
unloading the cargo faster than agreed. Usually negotiated only in charter
parties. |
|
Despatch Advice |
Information send by shippers to the recipient of goods informing that
specified goods are sent or ready to be sent advising the detailed contents
of the consignment. |
|
Despatch Days |
The days
gained if the free time included in the rate and allowed for the use of
certain equipment is not fully used. |
|
Destination |
- The place to which a shipment is consigned.
- The place where carrier actually turns over cargo to consignee or his agent. |
|
Destination Control Statements |
Various statements that the U.S. government requires to be
displayed on export shipments. The statements specify the authorized
destinations. |
|
Det Norske
Veritas |
Norwegian
classification society |
|
DET |
See "Detention" |
|
Detention |
A penalty charge against shippers or consignees for delaying
carrier's equipment beyond allowed time. Demurrage applies to cargo; detention
applies to equipment. See Per Diem. |
|
Detention Charge |
Charges
levied on usage of equipment exceeding free time period as stipulated in the
pertinent inland rules and conditions. |
|
Deterioration |
The
downgrading of a product due to long storage, damage to packing or other
external influences. |
|
DEV |
See "Deviation" |
|
Devanning
|
The unloading of a container or cargo van. |
|
Deviation |
A vessel's going to some other point or taking some course other than that
described in the Bill of Lading. |
|
Deviation From Route |
A divergence
from the agreed or customary route. |
|
DF Car |
Damage-Free Car. Boxcars equipped with special bracing
material. |
|
DFRT |
Deadfreight - unused space aboard carrier |
|
DFZ |
See "Duty Free Zone" |
|
DGI |
See "Defective Goods Inventory" |
|
DHDATSBE |
Despatch Half Demurrage on All Time Saved Both Ends |
|
DHDWTSBE |
Despatch Half Demurrage on Working Time Saved Both Ends |
|
Differential |
An amount added or deducted from base rate to make a rate to
or from some other point or via another route. |
|
DIKU |
Do I Know You? |
|
Dimensions |
Measurements in length, width and height, regarding cargo. |
|
Direct Collection |
Service for handling
export draft collections in which the exporter’s bank provides him with
forms that bear the bank’s own letterhead for mailing documents to the
buyer’s bank for collection. To the buyer’s bank, it will appear that the
documents were sent from the exporter’s bank, but time and expense are saved
by bypassing unnecessary processing at the exporter’s bank. |
|
Direct Delivery |
The
conveyance of goods directly from the vendor to the buyer. Frequently used
if a third party acts as intermediary agent between vendor and buyer. |
|
Direct Interchange |
Transfer
of leased equipment from one lessee to another (container). |
|
Direct Or Held Covered
(Ins) |
A condition
requiring that the insured voyage be direct from one place to another. If
the voyage is delayed en route or there is a deviation from the direct route
the insurance cover continues subject to payment of an additional premium,
but only if the Assured gives prompt notice of such delay or deviation
immediately on receipt of advices, unless the policy provides otherwise. |
|
Direct Product Profitability (DPP) |
Calculation of the net profit contribution attributable to a specific
product or product line. |
|
Direct Route |
The
shortest operated route between two points. |
|
Direct Store Delivery |
A
logistics strategy to improve services and lower warehouse inventories. |
|
Disbursements |
Sums paid
out by a ship's agent at a port and recovered from the carrier. |
|
DISCH |
Discharge |
|
Discharge |
- The
unloading of a vehicle, a vessel or an aircraft.
- The landing of cargo. |
|
Discharge Port |
The name of
the port where the cargo is unloaded from the export vessel. This is the port
reported to the U.S. Census on the Shipper's Export Declaration, Schedule K,
which is used by U.S. companies when exporting. This can also be considered the
first discharge port. |
|
Disclosure (Ins) |
The duty of the
Assured and his broker to tell the Underwriter every material circumstance
before acceptance of the risk. |
|
Discovery Period (Ins) |
The time
allowed the insured after termination of certain bond and policy provisions to
discover that he has sustained a loss which occurred during the period covered
by the contract. |
|
Discrepancies |
In the context of letters of
credit, term used to describe deviations between documents presented and
requirements set in the letter of credit or inconsistencies among the documents
themselves. |
|
Discrepancy Letter of Credit |
When documents presented do not conform to the requirements of
the letter of credit (L/C), it is referred to as a "discrepancy." Banks will not
process L/C's which have discrepancies. They will refer the situation back to
the buyer and/or seller and await further instructions. |
|
Dishonor |
Failure or refusal by
the drawee to accept a draft presented for acceptance or to pay a draft
presented for payment. |
|
Disintermediation |
When a Net
market bypasses a traditional channel, more directly linking buyers with
suppliers. |
|
DISP |
- Dispatch (Despatch)
- Displacement |
|
Dispatch |
See "Despatch" |
|
Dispositioning |
All
activities relating to the inland movement of empty and or full containers. |
|
Dispatching |
Carrier
activities involved with controlling equipment; involves arranging for fuel,
drivers, crews, equipment, and terminal space. |
|
Displacement |
The weight, in tons of 2,240 pounds, of the vessel and its
contents. Calculated by dividing the volume of water displaced in cubic feet by
35, the average density of sea water. |
|
Disposable Pallet |
Pallet
intended to be discarded after a single cycle of use. Also Known As: One-way
pallet, Expendable pallet. |
|
Distribution |
The
physical path and legal title that goods and services take between
production and consumption. |
|
Distribution Center |
A
warehouse for the receipt, the storage and the dispersal of goods among
customers. |
|
Distribution Channel |
The route
by which a company distributes goods. |
|
Distribution Channel Management |
The
organizational and pipeline strategy for getting products to customers.
Direct channels involve company sales forces, facilities, and/or direct
shipments to customers; indirect channels involve the use of wholesalers,
distributors, and/or other parties to supply the products to customers. Many
companies use both strategies, depending on markets and effectiveness. |
|
Distribution License |
The DL is a Special License that allows the
holder to make multiple exports of authorized commodities to foreign
consignees who are approved in advance by the Bureau of Export
Administration. The procedure also authorizes approved foreign consignees to
reexport among themselves and to other approved countries. Applicants and
consignees must establish Internal Control Programs to ensure the proper
distribution of items under the DL. Each program must include comprehensive
procedures for ensuring that the items exported will be used only for
legitimate end-uses. |
|
Distribution Resource Planning |
A computer
system that uses MRP techniques to manage the entire distribution network
and to link it with manufacturing planning and control. |
|
Distribution Warehouse |
A finished
goods warehouse from which a company assembles customer orders. |
|
Diversion |
A change made either in the route of a shipment in transit
(see Reconsignment) or of the entire ship. |
|
Divider |
A
vertically mounted partition in a compartment on board. |
|
Division |
Carriers' practice of dividing revenue received from through
rates where joint hauls are involved. This is usually according to agreed
formulae. |
| DK |
Deck |
|
DL |
See "Distribution License" |
|
DL |
Dead Link |
| DNRCAOSLONL |
Discountless and
Non-Returnable Cargo and/or Ship Lost or Not Lost |
| DO |
Diesel Oil |
| DOT |
Department of Transport or Transportation |
|
Dock |
- For ships, a cargo handling area parallel to the shoreline
where a vessel normally ties up.
- For land transportation, a loading or unloading platform at an industrial
location or carrier terminal. |
|
Dock Bumpers |
Cushioning
devices (rubber, plastic, wood, etc.) mounted at the extreme rear of a
chassis or trailer to take the impact when it backs into a loading dock or
platform (road cargo). |
|
Dock Receipt |
A form used to acknowledge receipt of cargo and often serves
as basis for preparation of the ocean bill of lading. |
|
Docket |
Present a rate proposal to a conference meeting for adoption
as a conference group rate. |
|
Document |
Anything
printed, written, relied upon to record or prove something. |
|
Document Holder |
Usually
fastened to the door on the front of a container. May contain e.g. a
certificate of approval of the container. |
|
Document of Title |
A term to
mean that possession of the specified document entitles the holder to
control of the goods listed in that document. |
|
Documentary Credit |
See "Letter of Credit" |
|
Documentary Draft Collection |
Process for collecting
payment in a sale of goods wherein a legal demand for payment from the buyer
is made by a bank acting as collecting agent for the seller. Demand is made
by presenting a draft. The collecting bank is also entrusted with documents
to deliver in accordance with accompanying instructions, usually once the
draft is either paid or accepted. These documents are generally needed by
the buyer to show title to the goods and/or to clear customs. |
|
Documentary Letter of Credit |
Term sometimes used
(incorrectly) to refer to commercial letters of credit¾ the term is
redundant in that all letters of credit are documentary. See "letter
of credit" and "commercial
letter of credit." |
|
Documentation |
The papers
attached or pertaining to goods requiring transportation and/or transfer of
ownership. |
|
Documents Against Acceptance (D/A) |
Instructions given by a shipper to a bank indicating that
documents transferring title to goods should be delivered to the buyer only upon
the buyer's acceptance of the attached draft. |
|
Documents Against Payment (D/P) |
Stipulate that the exporter ships goods to the
importer without a letter of credit or another form of guaranteed payment.
The importer must sign a sight draft before receiving the necessary
documents to pick up the goods. Documents Against Acceptance (D/A) are
instructions given by a shipper to a bank stating that the documents
transferring title to goods should be delivered to the buyer only upon the
signing of a time draft. In this manner an exporter extends credit to the
importer and agrees to accept payment at a readily determined future date. |
|
Dolly |
A set of wheels that support the front of a container; used
when the automotive unit is disconnected. |
|
Domestic Carriage |
Carriage
whereby the place of departure and the place of destination are situated
within one country (aircargo). |
|
Domestic Rate |
Rate
applicable within a country, and in most cases subject to special conditions
other than those of IATA (aircargo). |
|
Door Lock Bars |
See "Bars" |
|
Door-to-Door |
Through transportation of a container and its contents from
consignor to consignee. Also known as House to House. Not necessarily a through
rate. |
|
Door-to-Port |
The
through transport service from consignor to port of importation. |
|
DOS |
Dozing Off Soon |
|
D.O.T. |
Department of Transportation. |
|
Double Banking |
Two
vessels moored alongside each other on a certain berth. |
|
Double Bottom |
General term for all
watertight spaces contained between the outside bottom plating, the tank top
and the margin plate. The double bottoms are sub-divided into a number of
separate tanks, which may contain boiler feed water, drinking water, fuel
oil, ballast, etc. |
|
Double-Deck Pallet |
Flat
pallet with a top and bottom deck. |
|
Double Pallet Jack |
A
mechanized device for transporting two standard pallets simultaneously. |
|
Double Stack Train |
A number
of railway wagons, usually a block train, on which containers can be stacked
two-high. |
|
Down Time |
The period
of time when a machine is not available for production due to a functional
failure or maintenance. |
|
D/P |
See "Documents Against Payment" |
|
DPP |
See "Direct Product Profitability" |
|
DQMOT |
Don't Quote Me On This |
|
Draft |
- The number of feet that the hull of a ship is beneath the
surface of the water.
- An unconditional order in writing, addressed by one party (drawer) to another
party (drawee), requiring the drawee to pay at a fixed or determinable future
date a specified sum in lawful currency to the order of a specified person. |
|
Draft, Bank |
An order issued by a seller against a purchaser; directs
payment, usually through an intermediary bank. Typical bank drafts are
negotiable instruments and are similar in many ways to checks on checking
accounts in a bank. |
|
Draft, Clean |
A draft to which no documents are attached. |
|
Draft Collection |
Process for collecting
payment in a sale of goods wherein a legal demand for payment from the buyer
is made by a bank acting as collecting agent for the seller. Demand is made
by presenting a draft. |
|
Draft, Date |
A draft that matures on a fixed date, regardless of the time
of acceptance. |
|
Draft, Discounted |
A time draft under a letter of credit that has been accepted
and purchased by a bank at a discount. |
|
Draft, Sight |
A draft payable on demand upon presentation.
Written demand for
payment of a specified amount addressed to a named party, called the "drawee,"
and signed by the "drawer." A draft may demand payment immediately upon
presentation ("at sight") or on a specified maturity date and must also
specify a party to be paid (the "payee"). Most drafts are "negotiable,"
meaning the payee’s right to payment can be transferred by the payee to
another party by endorsement and delivery of the draft. |
|
Draft, Time |
A draft that matures at a fixed or determinable time after
presentation or acceptance. |
|
Draught |
See "Draft" |
|
Drawback |
A partial refund of an import fee. Refund usually results
because goods are re-exported from the country that collected the fee. |
|
Drawback System |
A part of US Customs' Automated Commercial System,
provides the means for processing and tracking of drawback claims. |
|
Drawee |
The individual or firm that issues a draft and thus stands to
receive payment.
Party to whom a draft is addressed and from whom payment is demanded, or, in
a documentary collection with no draft, party from whom payment is requested
in exchange for delivery of documents. |
|
Drayage |
Charge made for local hauling by dray or truck. Same as
Cartage. |
|
DRFS |
Abbreviation for "Destination Rail Freight Station." Same as
CFS at destination, except a DRFS is operated by the rail carrier participating
in the shipment. |
| DRK |
Derrick |
|
Drop |
A situation in
which an equipment operator deposits a trailer or boxcar at a facility at which
it is to be loaded or unloaded. |
|
Drop Off Charge |
Charge made by
container owner and/or terminal operators for delivery of a leased, or pool
container into depot stock. The drop off charge may be a combination of actual
handling and storage charges with surcharges. |
|
Drop Shipment |
A request for
the goods to go to the retailer directly from the manufacturer when the invoice
comes from another party in the transaction, typically the distributor from whom
the retailer would normally receive the goods. |
|
DRP |
See "Distribution Resource Planning" |
|
Dry Bulk Container |
- Container
consisting of a cargo-carrying structure, firmly secured within a framework, for
the carriage of dry solids in bulk without packaging.
- Containers of this type have type codes 80 and 81. |
|
Dry Cargo |
Merchandise other than
liquid carried in bulk. |
|
Dry Cargo Container |
Shipping
container which is designed for the carriage of goods other than liquids. |
|
Dry Cargo Ship |
Vessel which carriers all
merchandise, excluding liquid in bulk. |
|
Dry Dock |
An enclosed basin into which
a ship is taken for underwater cleaning and repairing. It is fitted with water
tight entrance gates which when closed permit the dock to be pumped dry. |
|
DSD |
See "Direct Store Delivery" |
|
DSS |
See "Decision Support System" |
|
DST |
- Daylight Savings Time
- Double Stack Train -
Rail car train
capable of carrying two forty-foot equivalent containers, one on top of each
other. |
|
DSU |
Delay in Startup Insurance is a policy to protect the seller
of a construction project from penalties if the project is not completed on
time. See "Liquidated Damages." |
|
DTRT |
Do The Right Thing |
|
Dual-Rate System |
An
international water carrier pricing system in which a shipper signing an
exclusive use agreement with the conference pays a rate 10 to 15 percent
lower than nonsigning shippers do for an identical shipment. |
|
Dumping |
Attempting to import merchandise into a country at a price
less than the fair market value, usually through subsidy by exporting country. |
|
Dunnage |
Materials of various types,
often timber or matting, placed among the cargo for separation, and hence
protection from damage, for ventilation and, in the case of certain cargoes, to
provide space in which the tines of a fork lift truck may be inserted. |
|
Duty |
A tax imposed on imports by the customs authority
of a country. Duties are generally based on the value of the goods (ad valorem
duties), some other factors such as weight or quantity (specific duties), or a
combination of value and other factors (compound duties).
- Ad
valorem duty means an assessed amount at a certain percentage rate on the
monetary value of an import.
- Specific duty: an assessment on the weight or quantity of an article without
preference to its monetary value or market price.
- Drawback: a recovery in whole or in part of duty paid on imported merchandise
at the time of exportation, in the same or different form. |
|
Duty Drawback |
A refund of
duty paid on imported merchandise when it is exported later, whether in the same
or a different form. |
|
Duty-Free Zone (DFZ) |
An area where
goods or cargo can be stored without paying import customs duties while awaiting
manufacturing or future transport. |
|
Duty Of Assured Clause (Ins) |
This appears in
the Institute Cargo Clauses published for use with the MAR form of policy. It
directs the attention of the Assured, his agents, etc. to the duty (as required
by the MIA, 1906) to take reasonable measures to avert or minimize any loss
which is recoverable under the policy; also to ensure that all rights against
carriers and others are properly preserved and exercised. Underwriters agree to
reimburse the Assured for any reasonable expenditure incurred by his compliance
with the clause; in practice, these expenses are termed "sue and labor" charges
(see Sue & Labor). |
|
Duty Rates |
Tax imposed by
U.S. Customs on imported merchandise. There are three basic types: (1) ad
valorem - based on the entered value, (2) specific - an amount per unit of
quantity, (3) compound - combination of ad valorem and specific rates. |
|
DWAT or DWT |
Deadweight - Weight of
cargo, stores and water, i.e. the difference between lightship and loaded
displacement. |
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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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Last Updated:
Monday, 08 June 2009 13:24:06 -0500 |
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