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TERM |
DEFINITION |
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Validated Export License |
A document issued by the U.S. government; authorizes the
export of commodities for which written authorization is required by law. |
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Validation |
Authentication of B/L and when B/L becomes effective. |
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Valuable Cargo |
A
consignment which contains one or more valuable articles (aircargo). |
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Valuation Charges |
Transportation charges to shippers who declare a value of goods higher than
the value of the carriers' limits of liability. |
| Valuation Clause |
Provides basis for determining insured value of a shipment under the Open Cargo
policy. |
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Value Added Tax (VAT) |
A form of
indirect sales tax paid on products and services at each stage of production
or distribution, based on the value added at that stage and included in the
cost to the ultimate customer. |
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Value for Customs Purposes Only |
The US Customs Service defines "value for
Customs purposes only" as the value submitted on the entry documentation by
the importer which may or may not reflect information from the manufacturer
but in no way reflects Customs appraisement of the merchandise. |
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Value Surcharge |
A
surcharge for the carriage of cargo having a value in excess of a specified
amount per kilogram (aircargo). |
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Vanning |
A term for stowing cargo in a container. |
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Variable Cost |
Costs that vary directly with the level of activity within a
short time. Examples include costs of moving cargo inland on trains or trucks,
stevedoring in some ports, and short-term equipment leases. For business
analysis, all costs are either defined as variable or fixed. For a business to
break even, all fixed costs must be covered. To make a profit, all variable and
fixed costs must be recovered plus some extra amount. |
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VAT |
See "Value Added Tax" |
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VBG |
Very Big Grin |
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VCPO |
See "Value for Customs Purposes Only" |
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Vendee |
Buyer |
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Vendor |
A firm or
individual that supplies goods or services; the seller. |
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Vendor Managed Inventories (VMI) |
A customer
service strategy used to manage inventory of customers to lower cost and
improve service. |
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Ventilated Container |
A container designed with openings in the side and/or end
walls to permit the ingress of outside air when the doors are closed. |
| Venture |
An undertaking, such as one voyage of a vessel. |
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Very Large Crude Carrier (VLCC) |
A vessel
designed for the carriage of liquid cargo in bulk with a loading capacity
from 50.000 till 250.000 DWT |
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Vessel |
A floating
structure designed for transport. |
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Vessel Manifest |
The international carrier is obligated to make declarations of
the ship's crew and contents at both the port of departure and arrival. The
vessel manifest lists various details about each shipment by B/L number.
Obviously, the B/L serves as the core source from which the manifest is created. |
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Vessel Supplies for Immediate Exportation (VSIE) |
Allows equipment and supplies arriving at one port to be
loaded on a vessel, aircraft, etc., for its exclusive use and to be exported
from the same port. |
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Viz. |
Namely. Used in tariffs to specify commodities. |
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VLCC |
Very Large Crude
Carriers: Tankers between 200,000 and 300,000 dwt. |
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VMI |
See "Vendor Managed Inventories" |
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Void Policy (Ins) |
One which
is inadmissible as evidence in a court of law (e.g. P.P.I. policy). |
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Volatility Allowance |
The
largest difference in container availability taking into account past peaks
in net demand after having removed the trend in container demand during the
repositioning trade-off period. |
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Volume |
Size or
measure of anything in three dimensions. |
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Volume Charge |
A charge
for carriage of goods based on their volume (aircargo). |
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Voucher |
A receipt,
entry or other document which establish the accounts. |
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Voyage |
The trip
designation (trade route and origin/destination) identifier, usually
numerically sequential. |
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Voyage Charter |
A contract whereby the
shipowner places the vessel at the disposal of the charterer for one or more
voyages, the shipowner being responsible for the operation of the vessel. |
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Voyage Number |
Reference
number assigned by the carrier or his agent to the voyage of the vessel. |
| VPD |
Vessel Pays Dues/Duties |
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VSA |
Vessel Sharing Agreement |
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VSIE |
See "Vessel Supplies for Immediate Exportation" |
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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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Minutes = AllCovered --- Paperless -- No Monthly Reporting
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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 13:35:02 -0500 |
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