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Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
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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.
   
 
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.

HOME

Over 3600 Ocean Marine, Shipping, Chat & Insurance Terms and Abbreviations
To jump to a section, click the letter. (Opens in new browser window)
Some letters have several hundred entries and may take some time to download
TERM COLORS: Black = Transport - -  Blue = Insurance - - Green = Chat/Email

Chat - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z

5 Steps + 2 Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O - Warehouse - Business Insurance --

-- We have Logistics AllCovered --

These terms, abbreviations and descriptions have been gathered from many sources
online and in print. No warranty for their accuracy is stated nor implied.

 

Last Updated:
Monday, 08 June 2009 14:24:06 -0400

 

 

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