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- R - |
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TERM |
DEFINITION |
|
R T A |
Road Travel Accident |
|
Rag Top |
A slang term for an open-top trailer or container with a
tarpaulin cover. |
|
Rail Car |
A wheeled
wagon used for the carriage of cargo by rail. |
|
Rail Consignment Note |
A document
evidencing a contract for the transport of goods by rail. |
|
Rail Division |
The amount of money an ocean carrier pays to the railroad for
overland carriage. |
|
Rail Grounding |
The time that the container was discharged (grounded) from the
train. |
|
Ramp |
Railroad terminal where containers are received or delivered
and trains loaded or discharged. Originally, trailers moved onto the rearmost
flatcar via a ramp and driven into position in a technique known as "circus
loading." Most modern rail facilities use lifting equipment to position
containers onto the flatcars. |
|
Ramp-to-Door |
A movement where the load initiates at an origin rail ramp and
terminates at a consignee's door. |
|
Ramp-to-Ramp |
A movement of equipment from an origin rail ramp to a
destination rail ramp only. |
|
Rate |
Quantity,
amount or degree measured or applied. |
|
Rate Basis |
A formula of the specific factors or elements that control the
making of a rate. A rate can be based on any number of factors (i.e., weight,
measure, equipment type, package, box, etc.). |
|
Rate Bureau |
A carrier
group that assembles to establish joint rates, to divide joint revenues and
claim liabilities, and to publish tariffs. Rate bureaus have published
single line rates, which were prohibited in 1984. |
|
Rates |
Established charges for the transport of goods. |
|
Rating |
A class to
which an article is assigned. |
|
Rating Bureau (Ins) |
An
organization that classifies and promulgates and in some cases compiles data
and measures hazards of individual risks in terms of rates in a given
territory. |
| RCVR |
Receiver |
|
RDC |
Running Down Clause - Used in marine insurance to indicate collision with
another ship |
|
Real Time |
The
description for an operating system that responds to an external event
within a short and predictable time frame. Unlike a batch or time-sharing
operating system, a real-time operating system provides services or control
to independent ongoing physical processes |
|
Rebate |
That part
of a transport charge which the carrier agrees to return. |
| Reasonable & Customary |
Phrase often relating to rates, charges,
or policies that, over time, have become accepted as a normal course or
process of business. |
|
Reasonable Rate |
A rate
that is high enough to cover the carrier's cost but not high enough to
enable the carrier to realize monopolistic profits. |
|
Reasonableness |
Under ICC and common law, the requirement that a rate not be
higher than is necessary to reimburse the carrier for the actual cost of
transporting the traffic and allow a fair profit. |
|
Rebate |
An illegal form of discounting or refunding that has the net
effect of lowering the tariff price. See also Malpractice. |
|
Rebate (Ins) |
A reduction of
a premium. |
| Recap |
Recapitulation or restating |
|
Receipt |
A written
acknowledgement, that something has been received |
|
Receipt Location |
A location
that will receive goods. |
|
Receipt Point |
The place
where cargo enters the care and custody of the carrier. |
|
Receiver |
An
enterprise that receives goods/services. |
|
Receiving Carrier |
The
carrier receiving a consignment on behalf of a carrier, agent or shipper for
onward transport (aircargo). |
|
Receiving Stock |
The stock
comprising all the goods that have arrived at the door of the receiving
organization and which is not yet available in the stock of that
organization. |
|
Reciprocity |
The
practice by which governments extend similar concessions to each other. |
|
Reconditioning |
All
activities connected with restoring and or adjusting the packaging of a
product. In such manner that it can be presented to the customer in the
requested form. |
|
Reconditioning of Garments |
The act or
process of bringing garments after transport in shop's condition. |
|
Reconsignment |
Changing the consignee or destination on a bill of lading
while shipment is still in transit. Diversion has substantially the same
meaning. |
|
Recourse |
A right claim against the guarantors of a loan or draft or
bill of exchange. |
|
Recovery (Ins) |
Amount
recovered from a third party responsible for a loss on which a claim has
been paid. |
|
Redelivery |
Return of
a shipment to the party who originally delivered it to the carrier
(aircargo). |
|
Red Label |
A label required on shipments of flammable articles. |
|
Reefer |
- Refrigerated container
- Thermal container with refrigeration for control of internal temperature |
|
Reefer Cargo |
Cargo
requiring temperature control |
|
Reefer Container |
A thermal
container with refrigerating appliances (mechanical compressor unit,
absorption unit etc.) to control the temperature of cargo. |
|
Re-Export |
For export control purposes: the shipment of
U.S. origin products from one foreign destination to another. |
|
Reforwarding |
Charges
paid or to be paid for subsequent surface or air transport from the airport
of destination by a forwarder, but not by a carrier under the Air Waybill
(aircargo). |
|
Reforwarding Charge |
Charges
paid or to be paid for subsequent surface or air transport from the airport
of destination by a forwarder, but not by a carrier under the Air Waybill
(aircargo). |
|
Refrigerated Warehouse |
A
warehouse that is used to store perishable items requiring controlled
temperatures. |
|
Refund |
The
repayment to the purchaser of the total charge or a portion of that charge
for unused carriage |
| Registered Tonnage |
A commercial ship is measured by its cargo capacity in "tons," with each ton
occupying 100 cubic feet. The cubic capacity of all enclosed spaces is thus
measured and the ship’s "tonnage" determined. |
|
Regroupage |
The
process of splitting up shipments into various consignments (degroupage) and
combining these small consignments into other shipments (groupage). |
|
Reimbursement (Ins) |
Payment of
an amount of money related to the amount of loss to or on behalf of the
insured upon the occurrence of a defined loss. |
|
Reimbursing Bank |
In a letter of credit
transaction, the bank with which the issuing bank maintains an account and
which is authorized by the issuing bank to charge that account to pay claims
received from the negotiating bank for documents that have been presented.
|
|
Reinstatement (Ins) |
-
Putting a
lapsed policy back in force;
- The payment of a claim under some forms of insurance reduces the principal
amount of the policy by the amount of the claim. Provision is usually made
for a method of reinstating the policy to its original amount. |
|
Reinsurance (Ins) |
-
A contract
of indemnity against liability by which the insurance company procures
another insurance to insure against loss or liability by reason of the
original insurance;
- Insurance by one insurance company of all or part of a risk accepted by it
with another insurance company which agrees to reimburse the insurance
company for the portion of the claim insured. |
|
Re-Invoicing |
The
procedure whereby goods shipped directly from a supplier to the customer are
invoiced in two stages: at first by the supplier to an intermediary and
subsequently by the intermediary to the customer. |
|
Rejection |
Non-acceptance of e.g. cargo |
|
Related Points |
A group of points to which rates are made the same as or in
relation to rates to other points in group. |
|
RFP |
See "Request For Proposal" |
|
RFQ |
See "Request for quotation" |
|
Relay |
- To transfer containers from one ship to another when both
vessels are controlled by the same network (carrier) manager.
-
Common practice in the less-than-truckload industry, in which one driver
takes a truck for 8 to 10 hours, then turns the truck over to another
driver, pony express style |
|
Relay Terminal |
A motor
carrier terminal that facilitates the substitution of one driver for another
who has driven the maximum hours permitted. |
|
Release Approval |
A document
to advise that goods are available for further movement or action. |
|
Released-Value Rates |
Rates
based upon the shipment's value. The maximum carrier liability for damage is
less than the full value, and in return the carrier offers a lower rate. |
|
Reliability |
A carrier
selection criterion that considers the carrier transit time variation; the
consistency of the transit time the carrier provides. |
|
Remittance |
Funds sent by one person to another as payment. |
|
Remitting Bank |
In a draft collection
transaction, the first bank in the chain of collection, i.e., the
principal’s or seller’s bank. |
|
Removal (Ins) |
"Removal" was a provision of the New York Standard
Fire Policy in which the insurer agreed to cover the cost of removing
covered property from the path of a fire. Presently, property policies
express the agreement in terms of "preservation of property" from imminent
danger of damage from any covered peril. Not to be confused with Debris
removal. |
|
Renewal (Ins) |
The extension of the term of coverage of an expired
policy, commonly by replacement with another policy effective on the date of
expiration of the previous policy. |
|
Renewal Certificate (Ins) |
A short form certificate which is used to renew a
policy. It refers to the original policy, keeping all of its provisions, but
does not restate all of its insuring agreements, exclusions, and conditions.
|
|
Reorder Point |
A
predetermined inventory level that triggers the need to place an order. This
minimum level provides inventory to meet the demand a firm anticipates
during the time it takes to receive the order. |
|
Replacement |
Indicating
that a subject is interchangeable with another subject, but which differs
physically from the original subject in that the installation of the
replacement subject requires extra machining or provisions in addition to
the normal application and methods of attachment |
|
Replacement Clause
(Ins) |
A clause
limiting Underwriters' liability for damage to machinery cargo. |
|
Replacement Cost (Ins) |
The cash
value representing what it would cost to replace the specific property
without deduction for depreciation. |
|
Replacement Cost Insurance (Ins) |
Covers property — both building and contents — on the
basis of full replacement cost without deduction for depreciation on any
loss sustained, subject to the terms of the co-insurance clause. |
|
Replenishment |
Completion
of stock |
|
Reporting Form (Ins) |
Fire or
other direct damage insurance written under a form of policy that covers
fluctuating values of stocks of merchandise, furniture and fixtures and
improvements by means of periodic reports submitted to the insurance company
by the insured, with an annual adjustment of premium on the average value. |
|
Reparation |
A
situation in which the ICC requires a railroad to repay users the difference
between the rate the railroad charges and the maximum rate the ICC permits
when the ICC finds a rate to be unreasonable or too high. |
|
Request for Proposals (RFP) |
Invitation
to suppliers to bid on supplying products or services that are difficult to
describe for a company or public agency. |
|
Request For Quotation (RFQ) |
Invitation
to suppliers to bid on supplying easily described products or services
needed by a company or public agency |
|
Rerouting |
The route
to be followed as altered from the one originally specified in the Air
Waybill (aircargo). |
|
Reservation |
Allotment
in advance of space or weight capacity. Also referred to as 'booking' |
|
Rescission (Ins) |
(1) Repudiation of a contract. A party whose consent
to a contract was induced by fraud, misrepresentation or duress may
repudiate it. A contract may also be repudiated for failure to perform a
duty. (2) The termination of an insurance contract by the insurer when
material misrepresentation has occurred. |
|
Responsible Carrier |
- The
carrier liable under the terms of a consortium Bill of Lading.
- Carrier responsible for the transport of goods as indicated in the
transport document (aircargo). |
|
Restricted Articles |
Articles handled only under certain conditions. |
|
Retention of Title |
Legal arrangement under
which a seller of goods delivers these goods "on consignment" into someone’s
custody but ownership remains with the seller until he is paid. Retention of
title allows the seller to repossess the goods whenever desired and to
establish a claim against the custodian if the goods are sold or used
without being paid for. |
|
Retroactive Date (Ins) |
Date on a
"claims made" liability policy which triggers the beginning of insurance
coverage. A retroactive date is not required. If one is shown on a policy,
any claim made during the policy period will not be covered if the loss
occurred before the retroactive date. |
|
Return Cargo |
A cargo which enables a
ship to return loaded to the port or area where her previous cargo was
loaded |
|
Revenue |
Amounts of
income stemming from the provision of transport services |
|
Revenue Freight Tonne Kilometer (RFTK) |
Air cargo measure of total freight moved by metric ton (tonne). |
|
Revenue Ton (RT) |
A ton on which the shipment is freighted. If cargo is rated as
weight or measure (W/M), whichever produces the highest revenue will be
considered the revenue ton. Weights are based on metric tons and measures are
based on cubic meters. RT=1 MT or 1 CBM. |
|
Reverse IPI |
An inland point provided by an all-water carrier's through
bill of lading in the U.S. by first discharging the container in an East Coast
port. |
|
Reverse Auction |
Buyers
post their need for a product or service, then suppliers bid to fulfill that
need. Unlike an auction, prices only move down. Since buyer power is key to
reverse auctions, they work either for large enterprises or when practiced
by intermediaries, which aggregate demand of many small buyers. Reverse
auctions also are becoming common features of many Net markets. |
|
Reverse Distribution |
The
collection of used, damaged, or outdated products and/or packaging from
end-users. |
|
Reverse Logistics |
The
process of collecting, moving, and storing used, damaged, or outdated
products and/or packaging from end users. |
| Reversible |
(Detention). If loading
completed sooner than expected at load port, then days saved can be added to
discharge operations. |
|
Revocable Letter of Credit (LOC) |
A letter of credit which can be cancelled or
altered by the drawee (buyer) after it has been issued by the drawee's bank.
See Also "Letter of Credit" |
|
Revolving Letter of Credit |
Letter of credit that
reverts to its original amount at specified intervals, e.g., monthly,
thereby preventing drawing too much in any one period. |
|
RFTK |
See "Revenue Freight Tonne Kilometer" |
|
Rider (Ins) |
An
endorsement to an insurance policy that modifies clauses and provisions of
the policy, adding or excluding coverage(s). |
|
Rinacertificate (It) |
Certificate issued by the Italian Government for carrying dangerous goods in
Italian Waters. |
|
Risk (Ins) |
A fortuity.
A term used to designate an insured of a peril insured against. It does not
embrace inevitable loss. The term is used to define causes of loss covered
by a policy. |
|
RL |
Real Life |
|
Road Carrier |
Party
undertaking transport by road of goods from one point to another such as
indicated in the contract. |
|
Road Railer |
Semitrailer specially designed to travel both on highway and on rails.
Manufactured by Wabash Corp. |
|
Road Travel Accident (RTA) |
Damage to cargo caused by an accident while on a highway or motorway. |
|
Road Vehicle |
A means of
transport capable and allowed to move over public roads and other landways. |
| ROB |
Remaining On Board |
|
ROND (INS) |
See "Rust Oxidation and Discoloration" |
|
ROD (INS) |
See "Rust Oxidation and Discoloration" |
|
RODSBCD (INS) |
Typically an Exclusion in cargo insurance terms and
conditions, meaning: "Rust,
Oxidisation, Discoloration, Wetting, Staining, Scratching, Bruising,
Chipping, Denting, Marring and the Cost of Repainting as applicable." |
|
"Ro/Ro" |
A shortening of the term, "Roll On/Roll Off." A method of
ocean cargo service using a vessel with ramps which allows wheeled vehicles to
be loaded and discharged without cranes. |
|
Roll |
To re-book cargo to a later vessel. |
|
Rolling |
The side-to-side (athwartship) motion of a vessel. |
|
Rolling Cargo |
Cargo which is on
wheels, such as truck or trailers, and which can be driven or towed on to a
ship. |
|
Rolling Resistance |
The total
frictional force that a tire, a set of tires or all the tires on a vehicle
is developing with the road. |
|
Roll On - Roll Off (RORO) |
System of
loading and discharging a vessel whereby the cargo is driven on and off by
means of a ramp. |
|
Roll Trailer |
Special
trailer for terminal haulage and stowage on board of Roll-on Roll-off
vessels. Also referred to as Mafi Trailer. |
|
Rotation |
Sequence
in which a vessel calls at the ports on her itinerary. |
|
ROTFL |
Rolling On The Floor Laughing |
|
ROTFLMAO |
Rolling On The Floor Laughing My A** Off |
|
ROTFLMBO |
Rolling On The Floor Laughing My Butt Off |
|
Round Trip |
A voyage,
a journey etc. to a certain place, port or country and back again. |
|
Route |
The manner in which a shipment moves; i.e., the carriers
handling it and the points at which the carriers interchange. |
|
Routing |
- The
determination of the most efficient route(s) that people, goods, materials
and or means of transport have to follow.
- The process of determining how a shipment will be moved between consignor
and consignee or between place of acceptance by the carrier and place of
delivery to the consignee.
- The process of aiding a vessel's navigation by supplying long range
weather forecasts and indicating the most economic and save sailing route. |
|
Row |
A vertical
division of a vessel from starboard to portside, used as a part of the
indication of a stowage place for containers. The numbers run from midships
to both sides. |
|
RSN |
Real Soon Now |
| RT |
Revenue Ton |
|
RT |
Real Time |
|
RTA |
Road Travel Accident - abbreviation used to denote damage to cargo caused
while traveling on highway or motorway. |
|
RTFM |
Read The Manual |
|
RTM |
Read The Manual |
|
Running Down Clause (RDC) |
Used in marine insurance to indicate collision with another ship |
|
Running Gear |
Complementary equipment for terminal and over-the-road
handling containers. |
|
Rust Oxidation and
Discoloration |
Damage to metal caused
by exposure to ocean air. An Insurance exclusion applied to steel and other
metal shipments
- See also: RODSBCD" |
|
RVNX |
Abbreviation for "Released Value Not Exceeding." Usually used
to limit the value of goods transported. The limitation refers to carrier
liability when paying a claim for lost or damaged goods. |
|
RYO |
Roll Your Own (you'll have to create it yourself) |
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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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5 Steps + 2
Minutes = AllCovered --- Paperless -- No Monthly Reporting
-- Cargo - Bonds - BOL Liability/E&O -
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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 13:33:22 -0500 |
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