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- E - |
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TERM |
DEFINITION |
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Earned Premium (Ins) |
That
portion of a premium for which the policy protection has already been given
during the now-expired portion of the policy term. |
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Ebb |
Receding current |
|
EC |
East Coast or European Community |
|
E.C.M.C.A. |
Eastern Central Motor Carriers Association. |
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ECR |
See "Efficient Consumer Response" |
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Economic Order Quality (EOC) |
An
inventory model that determines how much to order by determining the amount
that will minimize total ordering and holding costs. |
|
Economy of Scale |
The
lowering of costs with added output due to allocation of fixed costs over
more units. |
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ECSI |
See: "Export Cargo Shipping Instructions/PreAdvice" |
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EDD |
See "Estimated Delivery Date" |
|
Edge Protector |
An angle piece fitted over the edge of boxes, crates, bundles
and other packages to prevent the pressure from metal bands or other types from
cutting into the package. |
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EDI |
Abbreviation for "Electronic Data Interface." Generic term for
transmission of transactional data between computer systems. EDI is typically
via a batched transmission, usually conforming to consistent standards. |
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EDI Interchange |
Communication between partners in the form of a structured set of messages
and service segments starting with an interchange control header and ending
with an interchange control trailer. |
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EDIFACT |
International data interchange standards sponsored by the
United Nations. See UN/EDIFACT.
The ISO
application level syntax rules for the structuring of user data and of the
associated service data in the interchange of messages in an open
environment. |
|
EDP |
See "Electronic data Processing" |
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EDR |
See
"Equipment Damage Report" |
|
Effective Date (Ins) |
The date on
which an insurance policy or bond goes into effect, and from which
protection is furnished. |
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Efficient Consumer Response (ECR) |
A
customer-driven system where distributors and suppliers work together as
business allies to maximize consumer satisfaction and minimize cost. |
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EFT |
Electronic
Fund Transfer. Movement of money between two entities by electronic means. |
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EFTA |
European
Free Trade Association: Comprising Iceland, Norway and Switzerland |
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EG |
Evil Grin |
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EHA |
See "Equipment Handover Agreement" |
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EIN |
See "Export Identification Number" |
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EIR |
See
"Equipment Interchange Receipt" |
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EIU |
Even If Used |
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Electrical Derangement (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" |
|
Electronic Data Interchange (EDI) |
The transfer
of structured data, by agreed standards from applications on the computer of one
party to the applications on the computer of another party by electronic means. |
|
Electronic Data Processing (EDP) |
The
computerized handling of information (e.g. business data). |
|
Elevating |
- A charge for services performed in connection with floating
elevators.
- Charges assessed for the handling of grain through grain elevators. |
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Elevator |
Equipment
used to discharge some bulk cargoes such as grain which is removed from the
hold by a continuous line of buckets or by suction and carried on a conveyor
belt to store. |
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Electronic Funds Transfer (EFT) |
Electronic
Fund Transfer. Movement of money between two entities by electronic means. |
|
Elimination Period (Ins) |
A
loosely-used term sometimes designating the waiting period and sometimes the
probationary period. |
|
Elkins Act |
An act of Congress (1903) prohibiting rebates, concession,
misbilling, etc. and providing specific penalties for such violations. |
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ELVENT |
Electric Ventilation |
| Embargo
|
Order to restrict the hauling of freight. |
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EMC |
Export Management Consultant |
|
Eminent Domain |
The sovereign power to take property for a necessary public
use, with reasonable compensation. |
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Employer's Liability (Ins) |
Coverage
against common law liability of an employer for accidents to employees, as
distinguished from liability imposed by workers compensation law. |
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Employer's Non-Ownersjip
Auto Liability (Ins) |
(1)
Liability arising out of the operation of an automobile not owned by the
insured. This frequently results when an employee uses his own personal car
in the business activities of the insured; (2) Insurance coverage for the
liability exposure mentioned above. |
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Empty Repo
|
Contraction for Empty Repositioning. The movement of empty
containers. |
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EMSG |
Email Message |
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End User |
The final
buyer of the product who purchases the product for immediate use. |
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Endorsed In Blank |
Not Endorsed |
|
Endorsement |
A legal signature usually placed on the reverse of a draft;
signifies transfer of rights from the holder to another party. |
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Endorsement (Ins) |
A form
attached to the policy bearing the language necessary to change the terms of
the policy to fit special circumstances. |
|
English Jurisdiction Clause
(Ins) |
A
condition, printed in the MAR form of policy, whereby Underwriters agree to
recognize judgments only from courts convened within English jurisdiction.
Subscribing Underwriters may agree to replace this clause with a foreign
jurisdiction clause. Please note this is not applicable to business
emanating from the United States of America which is subject to the Service
of Suit Clause (USA) appearing in the Standard Conditions. |
|
English Law & Practice
(Ins) |
This clause
appears in Institute clauses published for use with the MAR form or policy.
It applies where a foreign jurisdiction clause attaches to the policy and
requires that the foreign court shall base its decisions on English law and
practice. |
|
Enquiry / Inquiry |
Document
issued by a party interested in the purchase of goods specified therein and
indicating particular, desirable conditions regarding delivery terms, etc.,
addressed to a prospective supplier with a view to obtaining an offer. |
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Enroute |
A term
used for goods in transit or on the way to a destination. |
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Enterprise Resource Planning (ERP) |
A
cross-functional/regional planning process supporting regional forecasting,
distribution planning, operations centers planning, and other planning
activities. ERP provides the means to plan, analyze, and monitor the flow of
demand/supply alignment and to allocate critical resources to support the
business plan. |
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Entrepot |
An intermediary storage facility where goods
are kept temporarily for distribution within a country or for reexport. |
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Entry |
Customs documents required to clear an import shipment for
entry into the general commerce of a country. |
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Entry Form |
-
The
document that must be filed with Customs to obtain the release of imported
goods and to allow collection of duties and statistics. Also called a
Customs Entry Form or Entry.
- Generic term for any form for which input is needed |
|
Entry Summary System |
An entry is the minimum amount of documentation
needed to secure the release of imported merchandise. The Entry Summary
System, a part of Customs' Automated Commercial System, contains data on
release, summary, rejection, collection, liquidation, and extension or
suspension. |
|
Entry Summary Selectivity System |
The Entry Summary Selectivity System, a part of
Customs' Automated Commercial System, provides an automated review of entry
data to determine whether team or routine review is required. Selectivity
criteria include an assessment of risk by importer, tariff number, country
of origin, manufacturer, and value. Summaries with Census warnings, as well
as quota, antidumping and countervailing duty entry summaries are selected
for team review. A random sample of routine review summaries is also
automatically selected for team review. |
|
Entry Value |
US Customs Service defines entry value (or
entered value) as the value reflected on the enry documentation submitted by
the importer. |
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EOC |
See "Economic Order Quality" |
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EOM |
End Of Message |
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EOT |
End Of Thread |
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Equalization |
A monetary allowance to the customer for picking up or
delivering at a point other than the destination shown on the bill of lading.
This provision is covered by tariff publication. |
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Equipment |
The
rolling stock carriers use to facilitate the transportation services that
they provide, including containers, trucks, chassis, vessels, and airplanes,
among others. |
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Equipment Damage Report (EDR) |
Written
statement concerning damage to equipment, based on a physical inspection. |
|
Equipment Handover Agreement (EHA) |
An
agreement acknowledging the condition of the carrier's equipment when handed
over and returned, which includes the terms of contract under which the
equipment was taken over. |
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Equipment ID |
An
identifier assigned by the carrier to a piece of equipment. See also
Container ID. |
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Equipment Interchange Receipt (EIR) |
A document transferring a container from one carrier to
another, or to/from a terminal. |
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Equipment Positioning |
The
process of placing equipment at a selected location. |
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ERP |
- See "Enterprise Resource Planning"
- Effective Radiated Power - a measure of a radio transmitter's power
- See "Extended Reporting Period" (Ins) |
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Estimated Delivery Date (EDD) |
The date
and time a package or shipment is expected to be delivered to a given
destination. |
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ETA
|
- Estimated Time of Availability. That time when a
tractor/partner carrier is available for dispatch.
- Estimated Time of Arrival. |
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ETC |
-
Estimated Time of Commencement
- Expected Time of Completion
- Export Trading Company |
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ETD |
Estimated Time of Departure |
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ETS |
Estimated Time of Sailing |
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Ethylene |
A gas produced by many fruits and vegetables that accelerates
the ripening and aging processes. |
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EU |
European Union |
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European Free Trade Association (EFTA) |
Free
trading area comprising Iceland, Norway and Switzerland |
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European Pallet Pool |
Pool for
the exchange of standard size pallets (the so-called Europallets) in
European cargo traffic, formed in 1961 by a number of European rail
administrators. |
|
European Zone Charge (EZC) |
A charge
for inland haulage transport in case of carrier haulage in Europe. |
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EUSC |
Effective U.S. Control |
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Even Keel |
Said of a
vessel which is balanced in such a way that the draft forward and aft is the
same as the draft in the midship of the vessel on both sides. |
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Evergreen Letter of Credit |
Letter of credit with an
initial expiration date but containing a clause that states that it will be
automatically extended for additional periods unless the issuing bank
provides notice to the beneficiary stating otherwise. |
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Even Keel |
When the draft of a ship
fore and aft are the same |
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Evidence of Insurability
(Ins) |
Any
statement of a person's physical condition, occupation, etc., affecting his
acceptance for insurance. |
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E.W.I.B. |
Eastern Weighing and Inspection Bureau. |
|
Ex (Point of Origin) |
From the
point where the shipment begins movement, e.g., "Ex Factory" "Ex Mine" or
"Ex Warehouse." See "Terms of Sale." |
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Ex Dec |
Contraction for "Shipper's Export Declaration." |
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Ex Dock |
(From
dock.) Seller owns goods until they are unloaded on dock at port of
discharge; selling price includes all costs so far plus cost of unloading
from vessel. |
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Ex Factory |
Seller
owns goods until they are picked up at his factory; selling price is the
cost of the goods. |
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Ex - "From" |
When used in pricing terms such as "Ex Factory" or "Ex Dock,"
it signifies that the price quoted applies only at the point of origin
indicated. |
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Exception |
Notations made when the cargo is received at the carrier's
terminal or loaded aboard a vessel. They show any irregularities in packaging or
actual or suspected damage to the cargo. Exceptions are then noted on the bill
of lading. |
|
Exception Clause |
Contract wordings detailing how
variations from a specified parameter will be handled. |
|
Exception Rate |
A
deviation from the class rate; changes (exceptions) made to the
classification. |
| Excess |
-
In English insurance terminology, a deductible or franchise, after which losses
will be paid.
- Going over
the prescribed amount or degree e.g. excess luggage is luggage of which the
weight is over the weight for free carriage. |
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Exchange Rate |
The rate at
which one currency can be exchanged for another, usually expressed as the value
of the one in terms of the other. |
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Exclusions (Ins) |
Specified
hazards for which a policy will not provide benefit payments. (Often called
Exceptions) |
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Exclusive Patronage Agreement |
A shipper
agrees to use only a conference's member liner firms in return for a 10 to 15
percent rate reduction. |
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Exclusive Use |
Vehicles that
a carrier assigns to a specific shipper for its exclusive use. |
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Ex-Dec |
See "Shippers' Export Declaration" |
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Exempt Carrier |
A for-hire
carrier that is exempt from economic regulations. |
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Exemption Clause |
A clause in a
contract, which relieves the carrier's responsibility for certain events - See
"Exceptions Clause" |
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Ex-Factory |
See "Ex Works" and "Incoterms" |
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EXIM Bank |
Abbreviation for Export-Import Bank of the United States. An
independent U.S. Government Agency which facilitates exports of U.S. goods by
providing loan guarantees and insurance for repayment of bank-provided export
credit. |
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Expediting |
Determining where an in-transit shipment is and attempting to speed up its
delivery. |
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Expendable Pallet |
See "Disposable Pallet" |
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Experience (Ins) |
The loss
record of an insured, class of coverage, or of an insurance company. |
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Experience Rating (Ins) |
Determination of the premium rate for an individual risk, made partially or
wholly on the basis of that risk's own past claim experience. |
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Expenses |
Costs paid
out in connection with booking of cargo and arranging transport (e.g.
commission). |
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Expiration |
Termination of a certain period. |
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Expiry Date |
Issued in connection with documents such as letters of credit,
tariffs etc. to advise that stated provisions will expire at a certain time. |
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Export |
Shipment of goods to a foreign country. |
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Export Broker |
An
enterprise that brings together buyer and seller for a fee, then eventually
withdraws from the transaction. |
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Export Cargo Shipping Instructions -
PreAdvice |
Instructions from shipper with details of all parties involved and
description of goods |
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Export Control Classification Number |
Every product has an export control
classification number (formerly: Export Control Commodity Number) within the
Commerce Control List. Each ECCN consists of five characters that identify
the category, product group, type of control, and country group level of
control. |
|
Export Declaration |
A government document declaring designated goods to be shipped
out of the country. To be completed by the exporter and filed with the U.S.
Government. |
|
Export Identification Number (EIN) |
number
required for the exporter on the Shipper's Export Declaration. A corporation
may use their Federal Employer Identification Number as issued by the IRS;
individuals can use their Social Security Numbers. |
|
Export Letter of Credit |
Term used by an exporter
to describe a commercial letter of credit in his favor or by a bank to
describe a letter of credit issued by a bank other than itself. The same L/C
will be called an "import letter of credit" by the importer and the issuing
bank. |
|
Export License |
A government document which permits the "Licensee" to engage
in the export of designated goods to certain destinations. |
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Export Management Consultant |
Individual or company
that assists other companies in identifying potential foreign markets for
their goods, often named as a sales agent or representative of the company
being served and paid a commission for each sale. |
|
Export Rate |
A rate published on traffic moving from an interior point to a
port for transshipment to a foreign country. |
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Export Request Form |
Document showing shipping instructions
advising details of cargo, routing and payment terms. |
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Export Sales Contract |
The
initial document in any international transaction; it details the specifics
of the sales agreement between the buyer and seller. |
|
Export Trading Company |
Company that buys and
sells goods with the objective of taking advantage of market opportunities
around the world. |
|
Exporter |
The party
responsible for the export of goods. |
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Exposure (Ins) |
(1) State
of being subject to the possibility of loss; (2) extent of risk as measured
by payroll, gate receipts, area, or otherwise; (3) possibility of loss to a
risk being caused by its surroundings. |
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EXQ |
See "Ex Quay" |
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Ex Quay |
"Ex Quay" means that the seller makes the goods
available to the buyer on the quay (wharf) at the destination named in the
sales contract. The seller has to bear the full cost and risk involved in
bringing the goods there. There are two "Ex Quay" contracts in use: (a) Ex
Quay "duty paid" and (b) Ex Quay "duties on buyer's account" in which the
liability to clear goods for import is to be met by the buyer instead of by
the seller. |
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EXS |
See "Ex Ship" |
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Ex Ship |
"Ex Ship" means that the seller will make the
goods available to the buyer on board the ship at the destination named in
the sales contract. The seller bears all costs and risks involved in
bringing the goods to the destination. |
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Extended Reporting Period (ERP)
(Ins) |
A period
allowed for making claims after expiration of a "claims made" liability
policy. Also known as a "tail." |
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EXW |
Ex-Works (See Incoterms or Terms of Sale) |
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EZC |
See "European Zone Charge" |
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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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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 13:24:42 -0500 |
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