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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 --

 

- U -

TERM DEFINITION
UAPITA You Are a Pain In The Butt
UCC Uniform Commercial Code
UCP Abbreviation for the "Uniform Customs and Practice for Documentary Credits," published by the International Chamber of Commerce. This is the most frequently used standard for making payments in international trade; e.g., paying on a Letter of Credit. It is most frequently referred to by its shorthand title: UCP No. 500. This revised publication reflects recent changes in the transportation and banking industries, such as electronic transfer of funds.
UDA You Dummy
UFC Abbreviation for "Uniform Freight Classification."
ULCC Ultra Large Crude Carriers. Tankers larger than 300,000 dwt.
ULD See "Unit Load Device"
Ullage The space not filled with liquid in a drum or tank. Free space above a liquid contained in a tank, drum or tank-container, expressed as a percentage of the total capacity. Ullage is often used to leave room for possible expansion of the liquid.
Ultimate Consignee The ultimate consignee is the person located abroad who is the true party in interest, receiving the export for the designated end-use.
Umbrella Liability Policy (Ins) A liability policy designed to provide liability protection above and beyond that provided by standard liability contracts.
Umbrella Rate An ICC ratemaking practice that held rates to a particular level to protect another mode's traffic.
UNCTAD United Nations Conference on Trade and Development
UN/EDIFACT United Nations EDI for Administration, Commerce and Transport. EDI Standards are developed and supported by the UN for electronic message (data) interchange on an international level.
Unclaimed Freight Freight that has not been called for or picked up by the consignee or owner.
Unconfirmed Letter of Credit Letter of credit that has not been confirmed.
Undercarriage A supporting frame or structure of a wheeled vehicle.
Undercarrier A carrier in a conference or consortium who carries less cargo than the allotment distributed to him.
Undercharge To charge less than the proper amount.
Under Insurance (Ins) A condition in which not enough insurance is carried to cover the insurable value, and, especially, to satisfy a coinsurance clause.
Underwriter (Ins) - A person trained in evaluating risks and determining the rates and coverages that will be used for them;
- An agent, especially a life insurance agent, who might qualify as a "field underwriter."
Underwriting (Ins) The process of examining, accepting, or rejecting insurance risks, and classifying those selected in order to charge the proper premium for each.
UNDG Number See "United Nations Dangerous Goods Number"
Uniform Commercial Code United States statute covering the rights and obligations of the various parties involved in the purchase and sale of goods. The UCC includes coverage of drafts and other negotiable instruments, documents of title, transfers of funds between banks, and security interests in assets as well as draft collections (in Article 4) and letters of credit (in Article 5).
Uniform Customs and Practices for Documentary Credits (UCP) Rules for letters of credit drawn up by the Commission on Banking Technique and Practices of the International Chamber of Commerce in consultation with the banking associations of many countries. See Terms of Payment.
Uniform Rules for Collections International standards of draft collection practice established for bankers by the International Chamber of Commerce. The Uniform Rules are not law but are more properly viewed as a handbook for banks used to establish common understanding of terminology and expectations.
Uniform Warehouse Receipts Act The act that sets forth the regulations governing public warehousing. The regulations define a warehouse manager's legal responsibility and define the types of receipts he or she issues.
United Nations Conference on Trade & Development (UNCTAD) A United Nations agency whose work in shipping includes the liner code involving the sharing of cargoes between the shipping lines of the importing and exporting countries and third countries in the ratio 40:40:20.
United Nations Dangerous Goods Number (UNDG) - The four-digit number assigned by the United Nations Committee of Experts on the Transport of Dangerous Goods to classify a substance or a particular groups of substances.
- Note: The prefix 'UN' must always be used in conjunction with these numbers
Unit Load Packages loaded on a pallet, in a crate or any other way that enables them to be handled at one time as a unit.
Unit Load Device (ULD) Refers to airfreight containers and pallets.
Unit Train A train of a specified number of railcars, perhaps 100, which remain as a unit for a designated destination or until a change in routing is made.
Unitization - The consolidation of a quantity of individual items into one large shipping unit for easier handling.
- Loading one or more large items of cargo onto a single piece of equipment, such as a pallet.
Unitize To consolidate several packages into one unit; carriers strap, band, or otherwise attach the several packages together.
Unloading Removal of a shipment from a vessel.
Unpacked- Unprotected Items (INS) Typically an exclusion in cargo insurance that refuses insurance payments for items not packed or protected well enough for the type of shipment/voyage involved in the transit of the goods.
U.S. Consular Invoice A document required on merchandise imported into the United States.
USC Unless Sooner Commenced
USDA United States Department of Agriculture - A government agency which regulates functions of specific imported merchandise, e.g., plants and plant products, domestic animals, serums and by products, etc.
Unseaworthiness The state or condition of a vessel when it is not in a proper state of maintenance, or if the loading equipment or crew, or in any other respect is not ready to encounter the ordinary perils of sea.
USCG US Coast Guard
UU Unless Used
UUIWCTAUTC Unless Used In Which Case Time Actually Used To Count
UW You're Welcome
U/W (Ins) Underwriter
 
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 14:34:36 -0400

 

 

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Debbie Miller
Customer Service - Allcovered.net
Ocean Marine Division; Allen Insurance Group
Voice: +1.478.825.5566 Ext. 108
E-Fax: +1.419.715.4723
Email: debbie.miller@allcovered.net

 

 

 

 

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