[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]

Account: is an account receivable or an open account. In the commercial finance industry, "account" refers to indebtedness; the person or company owning the indebtedness is an "account debtor." These are normally indebtedness of customers to the borrower.

A
Alloy containers; or aft.

A1
Highest Hull classification for American Bureau of Shipping.

aa
Always afloat - indicates that the vessel will either load and/or discharge as specified in the charter party.

AA
American Airlines. An American National airline and a member of IATA; Average Adjuster; or Automobile Association.

AAA
Association of Average Adjusters.

AACC
Airport Associations Co-ordinating Council- IATA term.

AAE
Asia Australia Express.

AAL
Asia America Line. A Shipping Company.

AAG's
Area Advisory groups. An organisation with BOTB, involved in the review/development of various overseas markets to which UK companies export.

AAR
Against all risks.

AAS
Annual automated controls survey (of a ship).

AASMM
Associated African States, Madagascar and Mauritius.

AASO
Association of American Shipowners - Based in New York.

AAT
Airports Authority of Thailand.

AB (or ABS)
American Bureau of Shipping - American Ship Classification Society; able bodied seaman; or Above Bridges.

Abaft.
Towards the stern of a vessel.

Abandonment
Leaving a ship as unseaworthy; or in marine insurance terms the process of giving up the proprietary rights in insured property to the underwriter in exchange for payment of a constructive total loss.

ABCC
Association of British Chambers of Commerce; or Arab-British Chamber of Commerce.

ABCU
Automatic bridge control system for unattended engine room.

Abeam
In a line at right angles to the vessel's length - opposite the centre of vessel's side.

ABECOR
An association of European banks seeking to improve the services that each individual member is able to offer to its customers by developing banking and financial objectives on the basis of co-operation.

ABH
Vessel classed by American Bureau of Shipping (Hellas).

Abinitio (Latin)
From the beginning.

Able seaman
Holder of the U.K. Department of Trade certificate of competency; a fourth year apprentice. It is now termed Seaman Grade I; or R.N. rating.

ABMEC
Association of British Mining Equipment Companies.

Abnormal invisible load
Any load which cannot without undue expense or risk of damage, be divided into two or more loads for the purpose of carriage on any transport mode and which owing to its weight and dimensions cannot be carried on the transport unit which complies with the relevant regulation i.e. Construction and Use regulations for the road vehicle.

ABOI
Association of British Oceanic Industries.

Above par
At a premium.

Above the norm
Above the average.

ABP
Associated British Ports.

Absorption
Acceptance by the air freight carrier of a portion of a joint rate or charge which is less in amount than that which it would receive for the service in the absence of such joint rate or charge.

ABTC
Australian British Trade Association.

AC
Account current; alternating current; account; Assistant Controller; authorisation under consideration; air conditioning or Air Canada. The Canadian National airline and a member of IATA.

ac
Airfreight containers.

ACA
Accession compensatory account; or Agricultural Credit Administration

ACAS
Advisory Conciliation and Arbitration Service.

Ace
Acceptance, or accepted.

ACC
American Chamber of Commerce; Automatic control certified; or Acceptable container condition.

ACE Group
A Group of Shipping Companies including Consortium of Franco Belgian Service; K Line, Korea Shipping Corporation, Neptune Orient Line, and Orient Overseas Container Line.

Accelerated surface post
An overseas postal service from the British Post Office for Printed papers.

Acceptance
The signing (usually across the face) by the drawee of a tenor (usance) bill of exchange which then binds him to make payment of the bill at maturity. A banking term; or notice given by the insurers of their willingness to give cover - an insurance definition. A similar criteria obtains for a client accepting any legal constituted offer such as agreed sale price of a product. See Acceptance of Goods entry.

Acceptance certificate
Document issued by the forwarding agent on request to certify that the goods to be dispatched in accordance with the contract of carriage have been actually handed over for transport.

Acceptance credit
The process of specific Banks arranging acceptance credit involving the acceptance of a Bill of Exchange drawn on any of its members. The 'Bank Bill' as it is called permits funds to be drawn for a set period and amount, and is particularly useful to importers of raw materials or components who have to meet their costs before the finished goods are sold. Usually a 'minimum amount' is imposed when financing the scheme. It operates on the basis the importing company draws a bill of exchange up to an agreed value for payment at a specified date in the future, and the bank arranges for the bill of exchange to be 'discounted' in the money market to one of the discount houses that specialise in this business. The sale proceeds are credited to the importer, making funds immediately available to him. When the bill of exchange matures, the bank pays it and debits the importing company's account for the amount.

Acceptance of the goods
Under the terms of the Sale of Goods Act 1979, acceptance of the goods occurs where the buyer (i) intimates to the seller he has accepted the goods; (ii) does any act inconsistent with the seller's ownership of the goods, or (iii) keeps the goods for more than a reasonable time, without informing the seller he has rejected them.

Accepted Draft
A draft accepted by the drawee by putting his signature on its face. The draft thus is subject to the strict provisions of the law regarding bills of exchange if the drawee is publicly registered as a firm. A banking term.

Accepting Bank/Paying Bank
The bank nominated in the documentary letter of credit to accept or Pi) drawings under that credit. It can be either the issuing or the advising bank.

Accepting House
Financial house - often a Merchant Banker - specialising in financing foreign trade.

Accessories
For the purpose of applying to specific air freight commodity rate descriptions, such as additional objects which are not essential to the normal use of the main article or are not an integral component thereof but which are intended for use with the main article.

Accord international sur Ie Transport des denrees Perissables
Agreement on the International carriage of perishable foodstuffs. See ATP entry.

ACCU
Automatic control certified for unattended engine room.

ACCU - OS
Automatic control certified for unattended engine room - open seas.

ACK
Acknowledgement.

Acknowledgement of order.
Document acknowledging undertaking to fulfill the order and confirming conditions or acceptance of conditions.

ACMEL
Associated Continental Middle East Lines.

ACOP
Approved code of practice.

ACP
Number of independent African, Caribbean and Pacific countries.

ACPs
African, Caribbean and Pacific States (parties to the Lome Convention).

ACP 80
A computer operated by Customs relative to the Direct Trader Input scheme for air freight users at London-Heathrow and Gatwick airports. See Direct Trader Input entry.

ACS
Australia Container Service - Shipping Company.

ACT
Associated Container Transportation Ltd; a consortia of container ship operators.

Actio personalis moritur cum persona (Latin)
A personal action dies with the person.

Actio 'in personam' (Latin)
An action against a person.

Actio 'in rem' (Latin)
An action for the recovery of a particular, thing e.g. a seaman's action against the ship's owner for wages, or an action for the specific recovery of land.

Action 'in rem'
A legal term involving a court seeking judgments against property.

Action plan
A plan drawn up with a view to identifying various areas for action/attention and in so doing ensure the plan objective is realised. For example to improve a container service, the operator may list twenty-five points which need attention such as improve ship punctuality, introduce new container control techniques, develop new distribution arrangements in port area and so on. Such an action plan would have a time scale and be delegated to various parts of the organisation to ensure its overall execution/completion.

ACTS
Alfred C Toepfer Schiffahrt, MB Hamburg - a shipowner.

Act of God
Any fortuitous act which could not have been prevented by any amount of human care and forethought such as storms, floods, lightning, earthquakes etc.

Actual Gross Weight
The weight of product plus packing (and/or container, trailer or wagon).

Actual pay load (net weight)
The difference between the actual gross weight and the gross tare weight of a container, trailer or wagon; or the weight of goods unpacked.

Actuals
The 'Physical' freight market - a BIFFEX term.

Actual total loss
A situation when one of the following circumstances exist relative to a marine insurance cover: (i) the assured is irretrievably deprived of the insured property; (ii) the insured property is completely destroyed; (iii) the vessel is posted at Lloyds 'as missing' in which situation both the ship and her cargo are regarded to be an actual total loss; or (iv) the cargo changes in character so that it is no longer the thing that was insured i.e. cement becomes solidified.

Actuator pole
Long pole of hollow construction used for locking twist locks in inaccessible positions (ICHCA).

Actus reus (Latin)
A prescribed act.

ACU
Administration of the customs union - a part of the EEC commission with responsibility for administration of the customs union.

ACV
An air cushion vehicle - a hovercraft.

AD
Above deck (of a ship).

a/d
After date.

ADB
Asian Development Bank

ADD
Address

AODC
Association of Offshore Diving Contractors.

Add on
A term equivalent to proportional rate or arbitrary involving an additional charge on the basic rate to cover a particular circumstance e.g. currency surcharge.

Address Commission
A percentage of commission sometimes specified in a charter party due to charters based on the amount of freight.

Adean Common Market
An economic trading bloc comprising of Bolivia, Colombia, Ecuador, Peru and Venezuela. It was introduced in 1967.

Ad idem (Latin)
In perfect agreement.

Adjustable shore ramp
A roadway providing an intermediate connection between the shore 31 the ship, and on which the shore end of a ship ramp can rest. The roadway suspended vertically and is adjustable and is usually hinged at the inshore end and supported near the outer end independently of the ship (ICHCA).

Adjuster
An independent professional who negotiates loss settlements on behalf the insurer.

Adjusting loading wall
Sheet lining which allows dunnage bars to be fitted into the 1.S.0. Container at any point (ICHCA).

Adjustment
Settlement of a loss incurred by insured.

Adk
Awning deck.

ADP
Automatic data processing.

ADR
The European agreement concerning the international carriage of dangerous goods by road. ADR concerns the dangerous substances which are listed in the convention and specifies the nature of the tanks in which these substances may be carried. These tanks are subject to inspection and must carry an ADR certificate issued by Department of Transport.

ADRIATIC
Adriatic Container Service - a shipowner.

Adrift Floating at random.
ADR's American Depository Receipts.

ADV Advice enclosed.
(Adv) Advance of Special Survey (of a ship).

Ad val
Ad valorem - in proportion to the value.

Ad valorem Bill of Lading
An ad valorem Bill of Lading is one where the value of the goods is shown on the face of the document, which value becomes the carrier's limit of liability, in return for the payment of a freight surcharge.

Ad valorem duty
Duty evaluated on percentage of cargo value.

Ad valorem freight
Freight rate based on percentage value of goods shipped,

Advance arrangement
The shipper’s obligation to contact the carrier prior to tendering the consignment with a view to initiating the dispatch arrangements.

Advanced charge/disbursements
A charge paid by a carrier to an agent or to another carrier, which the delivering carrier then collects from the consignee. Such charges are usually for agents forwarding fees and incidental expenses paid out of pocket for account of the shipment by an Agent or other carrier.

Advance freight
Freight payable (by Chatterer/Shipper etc.) at time goods accepted for dispatch.

Advance of freight
Payment 'on account' for disbursements.

Advance payment guarantee
A guarantee to the importer (buyer) that if the exporter (seller) fails to complete the contract any advance payments can be reclaimed. Basically as an exporter, advance payment from the buyer of the full contract price is greatly to be preferred. However, cash with order, as this is often known, is uncommon since the buyer is effectively extending credit to the exporter and bears the risk that the goods will not be dispatched in accordance with the contract terms. Nevertheless, provision for partial advance payments in the form of deposits (normally between 10 per cent and 20 per cent of the contract price, or progress payments at various stages of manufacture (particularly for capital goods) is often included in the contract terms.

Advances against shipping documents
The process whereby the bank may be prepared to make advances against shipping documents with or without bills of exchange in course of collection or payable.

Advertising Agency
An Agent specialising in Marketing and Advertising techniques and who undertake such work on behalf of a principal.

Advertising Budget
The process of formulating forecast and objectives relative to advertising expenditure during a specified period for a particular area of the business activity of the company. It is usually aligned to the Marketing and Sales plan.

Advertising Budget review
The process of reviewing critically the advertising budget especially in the light of changed circumstances compared with when the budget was compiled, and the situation obtaining at the time of the budget review likely events/needs in the remaining period of the budget

Advertising code
The code of ethics/standards/criteria on which advertising is conducted all its areas including press, TV, commercial radio, brochures, posters so on. The prime considerations involved are authenticity of presentation whereby the contents must be factually correct, and not to mislead client through misrepresentation of the facts; avoidance of false/unconfirmed statements; not to be abusive or offensive; and so on.

Advertising conversion rate
The number of coupons completed by respondents in an advertisement feature requesting for product/service details related to the number actual orders received. For example, 1,000 coupons are received requesting product details which are duly dispatched, and ultimately 300 orders i received thereby having a 30% conversion rate.

Advertising cost per product sale
The cost incurred in advertising to secure a product sale. For example during a year a manufacturer/retailer sold 100,000 washing machines an spent $1.0 million on advertising embracing TV, commercial radio, Sponsorships, brochure, newspaper/journal advertisements etc., incurring: advertising cost per washing machine sale of $10.

Advertising criteria
The basis on which an advertising product is devised/formulated. This ma' be a brochure, TV advertisement, press advertising, Poster, and so on Individual Advertising Agencies and their clients will have a varying bas' on which their advertising criteria is formulated bearing in mind the product, advertising budget, degree of competition, and other factors.

Advertising Expenditure
Expenditure incurred to promote a product(s) or service(s) by an entity company. This includes, TV, commercial radio, press advertising, brochures, poster sites, sponsorship, sales conferences, general promotion and so on.

Advertising Policy
The advertising policy of a particular company or in a particular set of circumstances. It maybe for example on the advertising budget which will be limited to five per cent of the total retail value of the product promote thereby permitting only £5 to be spent on every £100 budgeted income.

Advertising programme objectives
The aims/objectives of a particular advertising programme for a specific period involving a particular product(s) or service(s). This may include t improve market share, successfully launch the new product, develop new markets overseas, improve product image, and so on.

Advertising Revenue
Income from advertising. It maybe from a journal, poster site, newspaper] television, commercial radio and so on.

Advertising revenue by media
An analysis of advertising income by source such as TV, newspaper magazine, commercial radio, posters, cinema, and so on.

Advertising slogan
A phrase devised to facilitate selling a particular Company product(s) or service(s) and in so doing will feature in publicity material. It maybe 'never knowingly undersold' indicating the retail store will match any competitor’s price on documentary evidence for any item they retail.

Advice Cards
Cards (with punched and printed information) issued to Lloyd's Underwriters by Lloyd's Data Processing Department.

Advice of arrival (goods)
Notification from the carrier to the consignee in writing, by telephone or by any other means (express letter, message, telegram etc.) informing him that a consignment addressed to him is being or will shortly be held at his disposal at a specified point in the place of destination.

Advising Bank
An international trade term. It is the bank through which the issuing bank advises its credit. It may be a bank in the beneficiary's country or a bank in another country. Also see transit credit entry.

AEA
Agricultural Engineers Association (UK).

AECS
Australia Europe Container Service.

AELE
Association European de libber Exchange (French). Based in Geneva European Free Trade Association.

AEMERO
African, Eastern Mediterranean and European - Regional Office of UNICEF.

AERE
Atomic Energy Research Establishment.

Aer Lingus
The National Airline of the Republic of Ireland.

Aero Lineas Argentinas
The Argentine National Airline and a member of IATA.

Aeromexico
The Mexican National Airline and a member of IATA.

AF
Advance freight - payable at time goods are accepted for dispatch; or Air France - National Airline of France and member of IATA.

AFC
Air flex clutch.

AFDS
African Development Bank.

AFEA.
AFEA Line - a shipowner.

AFFF
Aqueous Film Forming Foam.

Affreightment
A contract for the carriage of goods by sea for payment expressed in charter party or bill of lading.

AFL- CIO
American Federation of Labour - Congress of Industrial Organisations based in Washington DC.

AFNOR
The French Standards Institute.

A Fortiori. (Latin)
With stronger reason; all the more.

AFPTC
Agricultural Farm Produce Trade Corporation (Burma).

AFRASEC
Afro-Asian Organisation for Economic Co-operation.

Aft
Rear portion of the ship.

After peak
Compartment at stern, abaft, aftermost water tight bulkhead.

After Sales Manager
A managerial position responsible for looking after customer interest following purchase of the company's product(s) or service(s). Sometimes it is called Customer Relations Manager.

After Sales Service
A department within a Company/Entity whose prime task is to look after Customer needs following purchase of the Company's product(s) 01 service(s). In an Engineering Company for example this may involve provision of technical servicing manuals, spares replacements, equipment servicing, disputed invoices, and so on.

Agency by ratification
A situation/circumstance whereby an Agent commits an act for which he has no authority whatsoever but acquaints his Principal after the occurrence with this act.

Agency Compliance Board
A Board responsible for investigating and controlling pretended or actual breaches of IATA Agents.

Agency fees
Charges payable by the shipowner to the Agents for services at loading or discharging port. In the U.K. these fees are set out in a scale issued by the Institute of Chartered Shipbrokers.

Agency Law
The legislation dealing with Agents who are people appointed by another to make contracts for him.

Agent
One who represents a principal, or buys or sells for another. For example in insurance terms, a person who provides advice on the appropriate policy but does not generally provide the same service as a broker. An Agent may be employed by one insurer or by someone such as a shipper. Types of Agents include a Travel Agent, Forwarding Agent, Receivers Agent, Clearance Agent, Ships Agent, and so on. (See separate entries).

Aggressive Marketing
The process of marketing a product(s)/service(s) vigorously in the market place and in so doing through advertising expose the weaknesses of the competitors product(s)/service(s) and the strengths of the particular company product(s)/service(s).

Agora
The currency of Israel. See Appendix 'C'.

Agorot
The currency of Israel. See Appendix 'C' .

Aground
Vessel laying (touching) sea bed.

ah
After hatch.

AH
Range of ports between and including Antwerp/Hamburg.

AHASC
Airport Handling Agreements Sub-Committee - IATA term.

AHC
Airport Handling Committee - IATA term.

AHESC
Airport Handling Equipment Sub-Committee - IATA term.

ADM
(IATA) Airport Handling Manual- IATA term.

AHPSC
Airport Handling Procedures Sub-Committee - IATA term.

AHS
Annual hull survey; or Assistant Head of Section.

AHST
Anchor Handling Salvage Tug.

AHT
Anchor Handling Tug.

AHTS
Anchor Handling Tug Supply (Vessel).

AI
Air India - National Airline of India.

AICS
Associate Institute of Chartered Shipbrokers.

AID
Agency for International Development - a US Governmental Organisation.

AIDA
International Association for the distribution of Food Products.

Aid donor
An organisation/entity/person providing foreign aid to a country.

Aid programme
The provision of foreign aid to a country such as the USA dispatching in US vessels shipments of grain to India.

Aid scheme
A scheme which provides aid to a specified country/region. It may be financial, human resources, services such as transport and so on.

AIFTA
Associate Institute Freight Trades Association; or Anglo-Irish Free Trade Area Agreement.

AIGSS
Annual inert gas system survey.

AIMS
American Institute of Merchant Shipping - based in Washington DC.

A.lnst.M.
Associate of the Institute of Marketing.

Air Algerie
The Algerian National Airline and a member of IATA.

Air Botswana
The Botswana National Airline and a member of IATA.

Air Bus
A passenger airline service which tends to operate on short duration flights but having the salient feature of no pre-booking requirement. This permits the passenger to simply 'turn up' at the airport terminal for a prescribed flight and purchase the ticket at the time of flight embarkation. It is renowned as a low cost airline service offering frequent services between major industrial cities of relative short flight transit time on an internal or international basis. All the accommodation is one class and no 'in flight' facilities are usually provided such as video entertainment.

Air Canada
The Canadian National Airline and a member of IATA.

Air Consignment Note
An Air Waybill.

Aircraft Kilometers
The sum of the products is obtained by multiplying the number of flights performed by the stage distance in kilometers.

Aircraft Manifests
A list of individual consignments conveyed on a particular flight.

Aircraft operator
A person/Company who has the management and overall control of an aircraft.

Aircraft turn round time
The duration of a particular aircraft stay at an airport terminal based on the time the aircraft is received at the terminal to commence passenger disembarkation and/or cargo discharge, until the aircraft duly loaded leaves the terminal to proceed on her flight or other specified assignment. The aircraft may arrive in a loaded or empty condition and likewise depart on a similar basis.

Aircrew
Personnel who man an aircraft such as pilot, navigator, flight engineer, air hostess and so on.

Air France
The French National Airline and member of IATA.

Air Freight
Cargo conveyed by airline services

Air Freight consolidation
The process of dispatching as one overall consignment under an Agent! Freight Forwarders sponsorship by Air involving a number of individual Airworthiness certification compatible consignments from various consignees to various consignors.

Air Freighter
Aircraft carrying exclusively air freight consignments.

Air Guinee
A National Airline and member of IATA.

Air hostess
Part of the aircrew team and primarily responsible for 'in flight' passenger welfare.

AIRIMP
A TCI IATA Reservations Interline Message Procedures Manual – an IATA term.

Air India
The Indian National Airline and a member of IATA.

Air Malawi
The National Airline of Malawi and member of IATA.

Air Malta Airways
The Maltese National Airline and member of IATA.

Air Mauritius
The National Airline of Mauritius and member of IATA.

AIRMIC
The Association of Insurance and Risk Managers in Industry and Commerce.

Air mode container
An ISO series container suitable for international exchange and for conveyance by road, rail, and sea as well as air including interchange between these forms of transport. (ICHCA).

Air New Zealand
The National Airline of New Zealand.

Air Pacific
A National Airline and member of IATA.

Airport lounge
Accommodation provided in a passenger terminal at an airport whereby, passengers are accommodated/seated/assembled following their final 'check in' prior to proceeding to board the aircraft.

Airport tax
Airport Authority tax on passengers passing through it.

Air Traffic Controller
A Managerial position usually located at an Airport responsible for all aircraft movements both take off and landing at the Airport. This involves very close liaison with air crew at all times during such periods which is greatly facilitated by modern telecommunication systems and computerizations. See also Traffic Control entry.

Air Waybill
An air freight consignment note made out by or on behalf of the shipper which evidences the contract between the shipper and carrier(s) for carriage of goods over routes of the carrier(s).

Airworthiness certification
Equipment/unit has been certified by a governmental airworthiness authority that it meets the safety requirements for the aircraft in that country.

Air Zaire
The National Airline of Zaire and member of IATA.

Air Zimbabwe
The National Airline of Zimbabwe and member of IATA.

Aisle space
The distance between rows of parked or stacked containers which allows access for lifting or transporting equipment (ICHCA).

AIT
Alliance Internationale de Tourisms.

AJCL
Australia Japan Container Line.

AL
Aluminum covers (Latch covers on a ship).

ALALC
Association Latin Americana de Armadores (Latin American Association of Shipowners).

ALAMAR
Latin American Association of Shipowners.

Alias (Latin)
Otherwise named - a fictitious name.

Aligned Export Documentation system
Method whereby as much information as possible is entered on a 'master' document so that all or part of this information can be reproduced electronically or mechanically onto individual forms of a similar design.

Aligned forms
A series of forms so designed that items of information common to all forms appear in the same relative positions on each form.

Aligned series original document
One of a number of documents reproduced from a master in an Aligned System, designated by means of contrasting into stamping etc. to be valid as the original, the other being similarly designated as copies.

Aligned systems
Method whereby as much information as possible is entered on a 'master' document or E.D.P. record so that all or part of this information can be reproduced mechanically or electronically on individual forms of similar design.

Alitalia
The Italian National Airline and a member of IATA.

Aliter (Latin)
Otherwise; on the contrary.

All lay time saved
The time saved to the ship from the completion of loading/discharging to the expiry of the lay time excluding any notice time and periods excepted from the lay time. A charter party term and also referred to as 'all working time saved'.

Allocated material
Stock which has been allocated, earmarked, or set on one side for a particular purpose.

Allotment
Method by which seaman may allot part of his wages regularly to near relative or savings bank.

Allowance free baggage
The baggage which may be carried without payment of a charge in addition to the fare.

All Risks
Insurance cover providing for an extensive cover; special risks, however, being usually not covered by it (e.g. risks of war and strikes or perishing of goods). It includes all fortuitous causes of loss. It does not embrace inevitable loss, such as wear and tear.

'All time saved'
The time saved to the ship from the completion of loading/discharging to the expiry of the lay time including periods excepted from the laytime. A charter party term.

All told
Charter party term indicating that deadweight capacity of vessel embraces bunkers, water dunnage, stores, and spare parts.

All working time saved
The time saved to the ship from the completion of loading/discharging to the expiry of the lay time excluding any notice time and periods excepted from the laytime. A charter party term and also referred to as 'all laytime saved.

Aloft
Above or overhead.

Alongside
The process of accommodating a vessel berthed at a quay/wharf usually for the purpose of discharging and/or loading cargo or passenger disembarkation/embarkation.

ALPAC
Alpac Line - a shipowner.

alt.
Altered.

Alu.
Aluminum (hatch cover material).

A I'usine (a la mine, ex magasin en magasin etc.) French
Cargo delivery term - Ex works (ex factory, ex mill, ex plantation, ex warehouse etc.).

Always accessible or reachable on arrival
In such a situation the chatterer undertakes that when the ship arrives at the port there will be a loading/discharging berth for her to which she can proceed without delay.

AM
Aeromexico - The Mexican National Airline and a member of IATA; or assistant Manager.

AMA
American Marketing Association.

Ambient temperature
The temperature of a substance surrounding a body. Thus the ambient temperature of a container holding refrigerated cargo would be the temperature of the air to which it is exposed outside (ICHCA).

Amendment
An international trade term found in banking. It is an alteration to the credit. Advice of any alteration comes from the issuing bank only and must be advised to the beneficiary through the advising bank if there is one. Irrevocable credits cannot be altered without the consent of all parties to the credit.

American Airlines
An American National Airline and a member of IATA.

American Bureau of Shipping.
The USA Ship Classification and Survey Society.

American Chamber of Commerce
The organisation based in London representing the USA, whose basic role is to develop, promote and facilitate international trade between UK and USA and vice versa.

American selling price
A system of US Customs evaluation whereby duty is levied not on the price of imported goods but on the price at which the comparable domestic article is freely offered for sale in USA.

American short ton
A total weight of 2000 lbs.

Amidships
Centre of the ship - mid point area between the forward and aft portions.

AMI Ex
Associate Member of the Institute of Export.

AMIME
Associate Member of the Institute of Marine Engineers.

AMM
Asia Merchant Marine (Hyundai Group) - a shipowner.

AMMI
American Merchant Marine Institute - organisation of ship-owners in the United States.

AMM SYS.
Ammonia system.

Amortisation
The process of writing off a debt in staged payments over a period.

Ampoule
A small receptacle sealed after filling by fusing the glass neck.

AMS
Annual machinery survey. American Bureau of Shipping highest classification of machinery.

amt.
Amount.

AMT
Air Mail Transfer - a remittance purchased by the debtor from his banker in international trade.

AMVER
Automated Mutual-Assistance Vessel Rescue (System).

Analogue
The representation of the performance of a system by continuously variable physical entities, for example currents, voltages. Contrasted with Digital - a computer term.

Analysis
The process of evaluating/analyzing critically a particular situation / circumstance of all its component / constituent parts with a view to forming a conclusion / recommendation / decision. In the Business sector, economics and statistical techniques can playa significant role in the facilitation of the analytical process.

Anchor
Implement by which a ship is rendered stationary.

Anchor bracket
Corner casting device used in some railcars. (ICHCA).

Anchor position
A navigational term indicating the anchored location of a specified vessel.

ANCOM
Andean Common Market including Bolivia, Colombia, Ecuador, Peru, and Venezuela.

And arrival
Used in relation to return premiums allowed on a hull policy. No such return premium is payable by the Underwriters until expiry of the policy and subject to the condition the vessel has arrived i.e. she is safe in port.

ANF
Arrival notification form.

Angle of Repose
The angle between the horizontal and maximum slope that loose material assumes when it is stockpiled. (ICHCA).

Angola Airlines Luanda
Angola National Airline and member of IATA.

ANHSING
Anhsing Overseas Line - a shipowner.

ANL
The Australian National Line - a shipowner.

Annual Sales Conference
An annual conference usually sponsored by a Company/entity which presents its latest products and related developments during the preceding twelve months to the market place. The invited audience would be the Company major clients (existing-potential). Such a Conference is an important event in the Company Sales calendar as it maintains close contact with the market and thereby facilitates development of Company sales.

Annual Sales Review
The process of reviewing/analyzing the sales results of a particular Company, Product etc. It will cover a particular period and could be compared with budget and previous year’s results. Remedial measures to improve sales is likely to be discussed.

Annul
To cancel or render void.

ANRO
The consortium of Australian National Lines including Australia Straits Container Line, Nedloyd Lines, and Neptune Orient Lines.

Ante (Latin)
Before.

Anticipation equivalence
An extension to equivalence, the relief earning exportation taking place before the relieved importation. A customs term.

Anticipatory breach
An anticipatory breach arises where one party announces his/her intention of not performing a contract which is due to be performed in the future. Legal term.

Anti fouling system
A technique whereby to counter marine growth on the hull of a vessel special measures are taken such as the application of a special type of hull coating or self polishing co-polymer paint.

Anti-jack-knife device
Device provided for road haulage units for preventing by one of two methods: (a) the wheels from locking so as to avoid any skidding action, (b) by locking the fifth wheel under braking to keep the vehicle in a rig state.

Antillian Gunder (Florin)
The currency of the Netherlands Antilles (Netherlands West Indies). S, Appendix 'C'.

Anti nose-dive leg
Support provided at the front end of a container chassis used to support the end during loading operations. (ICHCA).

Anti-rack device
Hardware that can be attached to container doors to provide addition strength and stiffness to the door and frame assembly, enabling IS containers to withstand greater racking forces. (ICHCA).

Anti-roll suspension
Suspension system which incorporates a torsion bar between the axle and the vehicle chassis to resist the rolling action which occurs when a vehicle negotiates a comer.

Anti-theft device
System for preventing vehicle theft by immobilising the vehicle or causing warning buzzers to sound if an attempt is made to enter the vehicle or drive it away. Immobilisers include steering column locks, fuel cut out device and electrical cut outs as well as warning devices.

ANZECS
Australia New Zealand Europe Container Service.

ANZMSA
Australian & New Zealand Merchants' & Shippers' Association.

ANZTAC
Australia and New Zealand Trade Advisory Committee. Part of BOTJ organisation.

ANZUS
Mutual Aid Pact between Australia, New Zealand and the USA - a Pacific Pact.

A/o
Account

AOB
Anyone bottom. A marine insurance term.

AOCTs
Associated overseas countries and territories.

AOLOC
Anyone location.

AOS
Anyone steamer.

AOV
Anyone vessel.

AP
Angkutan Pertambangan - a shipowner.

AP or A/P
Additional premium or aft perpendicular (of a ship).

APAA
Asean Port Authorities Association.

APBH
After peak bulkhead.

APL
American President Lines - a shipowner.

APP
Application.

Apparent good order of the goods
An indication the merchandise/consignment is in a satisfactory condition.

Applicant
An international trade term found in banking. It is the person, usually the buyer, on whose behalf the credit is issued. Also sometimes known as the ‘opener’.

Appro.
Approval.

Approval Marks
Official markings on certain motor vehicles or motor vehicle parts which show that they conform with a type approved by an international agreement to which the UK is a party.

Approved or held covered
A vessel which is approved or held covered is one which the Underwriters consider adequate to carry the insured cargo at the agreed premium rate. In circumstances when the vessel is not approved the risk is still covered but subject to a reasonable additional premium.

Approved premises
Premises approved by the Commissioners of Customs & Excise for the purpose specified.

A priori (Latin)
From the cause to the effect.

Apron
That portion of a wharf or pier lying between the waterfront edge and the Apron Pact.

Apron
That portion of a wharf or pier lying between the waterfront edge and the (transit) shed, or that portion of the wharf carried on piles beyond the solid ARC fill (ICHCA); or a defined area of a land at a aerodrome intended to accommodate aircraft for the purpose of loading or unloading passengers or ARCAD cargo, refueling, parking or maintenance.

Apron Wharf ARCH
That portion of a wharf or pier lying between the waterfront edge and the (transit) shed, or that portion of the wharf carried on piles beyond the solid ‘fill (ICHCA).

A.P.T.
Aft peak tank.

A quai (dedouane. port convenu) (French) ARINC
Cargo delivery term. Ex quay.

A/R
All risks (insurance term).

AR
Aerolineas Argentinas. The Argentine National Airline and a member of IATA; or average revenue.

AAR
Against all risks (insurance term).

ARA
Antwerp-Rotterdam-Amsterdam ports.

Arab-British Chamber of Commerce
The organisation based in London representing the Arab States whose mt basic role is to develop, promote and facilitate international trade between ARPA UK and the Arab states and vice versa.

Arab Common Market
This agreement came into force on 1st January 1965 to eliminate tariffs and A provide for the eventual (a) freedom of movement of persons and Arab Arrest capital; (b) exchange of local and foreign goods and products; (c) freedom of residence, work, employment and any economic activity; (d) freedom of JU transport, transit, and the use of means of transport, civil harbours, and Airports within the territory of all members of Arab League.

Arab Organisation for Standardisation and Metrology
Founded in 1965 to serve as a specialised technical body for the League of Arrive Arab States in the fields of standardisation, metrology and quality control.

Arbitrage
The switching of funds from one financial market to another to take advantage of higher yield or capital gain opportunities as a result of interest or exchange rate differentials prevailing between two or more centers. This involves the buying of securities in one country and selling them in another ARS with the object of making a profit.

Arbitration
Method of settling disputes which is usually binding on the parties concerned - clause usually found in charter parties.

Arbitration clause
A clause found in a contract, such as a charter party, which binds both parties to settlement of any dispute arising from the contract, to an arbitration procedure.

ARC
Applied Research Corporation (Singapore).

ARCADIA
Arcadia Shipping Lines Pte. Ltd. - a shipowner.

ARCH
Decks supported by web frames or diagonal bracing with pillars.

Argentine Peso
The currency used in Argentina. See Appendix 'C'.

Arian Afghan Airline
A national airline and member of IATA.

ARINC
Aeronautical Radio Inc.

Armitage Report
An inquiry into lorries, people and environment published in December, 1980. Its terms of reference were 'to consider the causes and consequences of the growth in the movement of freight by road and, in particular of the impact of the lorry on people and their environment; and to report on how best to ensure that future development serves the public interest'. Subsequently legislation was introduced in 1983 permitting commercial vehicles to have a gross laden weight of 38 tonnes spread over a five axle vehicle unit with two axles on the tractor unit. Additionally the maximum permitted length of articulated vehicles was increased by half a meters to a total of 15.5 metres and the trailer unit from 12 metres to 12.20 metres in the UK.

ARPA
Automatic Radar Plotting Aid.

Arranged total loss
A compromised total loss.

Arrest
The detention of a vessel. Where this is a peril in the policy but is part of a judicial process it is not covered by the policy.

Arrival date
The date on which the consignment arrived/was received by the specified consignee.

Arrived notification form
Advice to consignee of cargo coming forward at specified place of collection.

Arrived ship
Vessel arrived at berth or port or off the port - according to charter party terms.

ARS
Annual refrigerated machinery survey (of a vessel).

ARSO
The African Regional Organisation for Standardisation. Founded in January 1977 under the auspices of the UN Economic Commission for Africa (ECA). Memberships open to the national standards bodies of African countries who are members of ECA and Organisation of African Unity.

Articles of Agreement
Contract of employment between shipowner and crew.

Articulated vehicle
A combination of tractive unit and semi trailer in which the trailer is resting on and attached to the tractive unit, and 20 per cent or more of the weigh~ of the trailer when it is uniformly loaded is superimposed on the tractive unit. The maximum permitted overall length of an articulated vehicle ~ 15.50 metres with a gross laden weight of 38 tonnes spread over five axles.

Artificial exchange rare
A currency exchange rate which does not have any necessary alignment with the current market exchange rate.

ARYA
Arya National Shipping Lines - a shipowner.

A/S
After sight; alongside; or account sales.

ASAP
As soon as possible.

ASBA
Association of Shipbrokers and Agents (USA) Inc.

ASC
Austrian Shippers Council.

ASCL
Australia Straits Container Line - a shipowner.

ASDIC
Anti-Submarine Detection Investigation Committee.

As fast as the vessel can Receive/Deliver
The laytime is a period of time to be calculated by reference to the maximum rate at which the ship in full working order is capable of loading discharging the cargo. A Charter Party term.

ASEAN
Association of South-East Asian Nations (Brunei, Indonesia, Malaysia. Philippines, Singapore and Thailand). Its aim is to accelerate economic growth, social progress and cultural development of the region.

ASEAN-CCI
The ASEAN Chambers of Commerce and Industry.

Asia Australia Express
Overseas Containers Ltd., associate company trading between Far East and Australia.

ASIAS
Airline Schedules and Interline Availability Study-IATA term.

A similibus ad similia (Latin)
From like to like.

ASM
After Sales Manager, or Area Sales Manager.

ASMO
Arab Organisation for Standardisation and Metrology. Founded in 1965 to serve as a specialised technical body for the League of Arab States in the fields of standardisation, metrology and quality control.

ASOA
Australasian Steamship Owners Association.

ASP
Accelerated surface post; or American selling price. A system of US Customs evaluation whereby duty if levied not on the price of imported goods but on the price at which the comparable domestic article is freely offered for sale in USA.

ASPAC
Asian and Pacific Council. Organisation of several Far East states for the discussion of economic, technical, cultural, social and political questions.

ASRRI
Indonesian Association of Industries.

Assembler
Also called assembly program. This is a program which converts a set of instructions for the computer into a code which the machine can understand. A computer term.

Assembly cargo
The separate reception of parcels or packages and the holding of them for later dispatch as one consignment.

Assessor
Person who estimates the value of goods for the purpose of apportioning the sum payable by the underwriters to settle claims.

Assignment
The passing of beneficial rights from one party to another. A policy or certificate of insurance cannot be assigned after interest has passed, unless an agreement to assign was made, or implied, prior to the passing of interest. An assignee acquires no greater rights than were held by the assignor, and a breach of good faith by the assignor is deemed to be a breach on the part of the assignee.

Assignee
One who receives rights from an assignor.

Assignor
One who assigns his rights to another.

Association Francais de Normalisation
The French Standards Institute.

Association of Southeast Asian Nations
An economic trading bloc comprising of Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand. It was formed in 1967.

Assured
Party indemnified against loss by means of insurance.

Astern power
Power available for driving a ship astern.

AT
American terms (grain trade).

ATA
Air Transport Association of America.

ATC
Air Traffic Conference of America.

AT A Carnet
International Customs document to cover the temporary export of certain goods (commercial samples and exhibits for international trade fairs abroad and professional equipment) to countries which are parties to the A.T,A convention and cover re-import of such goods.

Athwart
Across.

ATI
The Association of Thai Industries.

ATLANTIC
Atlantic International Lines (Pte) Ltd. - a shipowner.

ATLAS
Atlas Lines, Chittagong - a shipowner.

ATP
Aid and Trade Provision; or convention covering the international transport of perishable goods by rail and road vehicles and containers on international journeys, and the Special Equipment to be used for such carriage. It requires that the equipment to be used must be subjected to certain tests and issued with a certificate.

At risk
A situation where the particular circumstances are at risk or subject to change. This may be due to a variety of situations including technical, political, commercial, industrial relations and so on. For example, an increase in oil fuel tax may cause many businesses to examine the economics of a gas fired central heating system in preference to their oil fired system thereby putting at risk the latter facility continuing on a permanent basis.

ATS
Assistant Traffic Supervisor; or Apparent time at ship.

Ats
The currency of the Peoples Democratic Republic of Laos. See Appendix 'C'.

At sight drafts
Drafts payable on demand and take no days of grace.

Attachment Date
The date entered on the broker's slip by the leading Underwriter to provide a point from which the period allowed in the terms of credit scheme will operate.

Attestation
Legal act of witnessing a deed by affixing one's signature thereto.

Attestation clause
That part of the policy in which the underwriter is bound to the policy conditions.

Attitude survey
A market research technique whereby buyer behavior/attitude is determined /researched relative to a particular circumstance such as a change in colour, design of a product; a price variation; new product launch; and so on.

Audi aIterem partem (Latin)
Let the other party be heard.

Audio visual
A piece of salesman's equipment enabling him to present to his client(s) a short film or slides with commentary featuring the product he has to sell

Au Fait (French)
Well acquainted with.

Aurar
The Currency of Iceland. See Appendix 'C'.

AUSTRA
Australian Committee on Trade Procedures and Facilitation based in London.

Austral
Code name of Chamber of Shipping approved charter party for Australian Grain trade - agreed pre-war with Australian Grain Shipping Assoc.

Australian-British Trade Association
The organisation based in London representing Australia whose basic role is to develop, promote and facilitate international trade between UK and Australia and vice versa.

Australian Dollar
The currency of Australia and Tuvalu together with the Republic of Naura. See Appendix 'C'.

Australia Japan Container Line
Overseas Containers Ltd. associate company trading between Australia and Japan.

Australia New Zealand Europe Container service
The Consortium in which Overseas Containers Ltd. trades in the Australia! New Zealand-Europe service.

Australia Straits Container Line
An Overseas Container Ltd, associated company trading between Australia and the Malacca Straits area.

Austrian Airlines
The National Austrian airline and member of IATA.

Austrian Shippers Council
The organisation in Austria representing the interest of Austrian shippers in the development of international trade.

Austwheat
Code name of Chamber of Shipping approved charter party for Australian grain trade, agreed 1956 with the Australian Wheat Board and amended by agreement between these two parties, at intervals.

Authorisation
The notification by Customs and Excise to an exporter allowing him to import goods under inward processing relief arrangements for processing and subsequent export from the Community (EEC) in the form of compensating products.

Authorities to purchase
The process adopted chiefly for shipments to the Far East including Malaysia and Hong Kong together with Mauritius whereby the authority to purchase the bills are drawn on the buyer of the goods and payable at sight, or at some later date as specified in the Authority. It is an alternative to Documentary Credits.

Automatic coupling
Coupling system occasionally used on articulated road vehicles in which the tractive unit is equipped with guide ramps to lift the front of the trailer from the ground when the unit is reversed under the trailer. The trailer landing support wheels are released and fold away, and the rollers, mounted on the trailer; move up the ramps until the trailer turntable locks into place on the tractive unit. Automatic coupling also exists for railway rolling stock both for passenger and freight wagons.

Automatic fare collection
A system so devised which obviates the need to engage staff to examine/collect tickets on a passenger transport system. This primarily involves for example on a railway system the provision of coin operated ticket issuing machines, and automatic ticket barrier control whereby passengers may only gain access to the platform/train by processing their ticket through the automatic barrier equipment. It is used primarily on railway systems especially in conurbation areas such as Paris metro and City bus services with one man operation.

Automatic Maritime Radio telex service
An automatic terrestrial maritime radio telex service. An automatic ship to shore and shore to ship service. It enables direct through dialing to the UK and most overseas customers, and automatic store and forward of telex messages to and from the shore.

Automatic watch keeper
Equipment embracing monitoring and alarm surveillance on a vessel.

Auto pilot
A navigational device found in sea and air transport.

Aux
Auxiliary (sailing ship with auxiliary machinery).

Aux B
Boiler(s) supplying steam to auxiliary essential services of a ship.

Aval
An unconditional guarantee for each bill of exchange or promissory note from an internationally recognized major bank. See also forfeiting entry.

A valising
The process of dealing in Bills of Exchange guaranteed by the buyers Bank.

Average
Loss - usually termed general or particular average.

Average Adjuster
Independent expert who assesses the liabilities of the various parties to a common maritime adventure - when a claim arises - and to marine insurance contracts, and to classify the various items of expenditure between general and particular average, viz. ship, freight, and cargo.

Average Bond
Bond in which cargo owners agree to pay their share in the general average losses - each contribution being determined by the average adjuster.

Average Clause
A clause in a policy, whereby partial losses are subject to special conditions (e.g. a franchise or deductible is to be applied to claims).

Average clause
A clause on a marine insurance policy whereby partial losses are subject to special conditions such as a franchise.

Average deposit
Cash security deposited by consignee pending assessment of general average contribution.

Average lay time
This is determined by the number of days saved/lost at the load port(s) added to/subtracted from those allowed at the discharge port(s), but only after a separate discharge port(s) calculation has been made. For example the results were two days demurrage accruing at load port and two days dispatch at discharge, the results would cancel out each other, leaving no demurrage and no dispatch on the basis 'two days saved minus two days lost equals nothing'.

Average life
The total of the amounts outstanding at the end of each year of the loan for its entire life, divided by the total principal sum borrowed to give the average life of the loan in years. An International Banking term.

Average rate
The average rate which is produced from conveying a given volume of traffic during a specific period or calculating the range of rates offered by a transport company. For example during the month of April 10,000 tons of merchandise was conveyed yielding $100,000 or $10 per ton. Alternatively an analysis of all types of parcel rates available to the market by a particular Company indicated the average rate per kilogram is $2. It is used extensively in budgetary control systems.

Average statement
Average adjusters statement.

A vianca
An International National Airline and a member of IATA.

Aviation spirit
A specially blended light hydro carbon intended for use in aviation piston engined power units.

Aviation turbine fuel
A specially refined Kerosene intended for use in aviation gas turbine power units.

Avoidance
The right of an underwriter in the event of a breach of good faith or delay in commencement of an insured voyage to treat the insurance contract as null and void thereby canceling it.

Avos
The currency of Macao. See Appendix 'C'.

AVR
Agent's Vehicle Record.

Award
The decision in arbitration.

AWB
Air Waybill- air freight consignment note.

AWD
Awning deck.

AXBS
Auxiliary boiler survey (of a ship).

AXFBS
Auxiliary fire tube boiler survey (of a ship).

AXFTB
Auxiliary fire tube boiler (of a ship).

AXFTBS
Auxiliary fire tube boiler survey (of a ship).

Axial-flow turbine
A turbine in which the direction of steam flow is parallel to the rotor shall with the blades fitted perpendicularly to the shaft.

Axle loading
The total downward pressure exerted by a vehicle through any given ax. This may be transmitted through two or four wheels (ICHCA).

Axle weight
The sum of the weights transmitted to the road surface by all the wheels the axle. A road transport term.

AXWHB
Auxiliary waste heat boiler (of a ship).

AXWHBS
Auxiliary waste heater boiler survey (of a ship).

AXWTB
Auxiliary water tube boiler (of a ship).

AXWTBS
Auxiliary waste tube boiler survey (of a ship).

Azcon
Code name of grain charter party.

A Y Finnair Oy
The Finnish National Airline and a member of IATA.

AZ Alitalia
The Italian National Airline and a member of IATA

Account Debtor: (also Debtor): a customer billed by a borrower for a product shipped or service rendered.

Accounts Receivable Credits (also Dilution): Returns, allowances, discounts, charges or other offsets to accounts receivable.

Accounts Receivable Debit: Is an increase to accounts receivable. A debit may be the result of sales, interest charges, fees, freight charges, or collection costs.

Acquisition Financing:   A loan to a business, entrepreneur, or equity sponsor group to assist in acquiring the stock or assets of a business; sometimes referred to as a "bootstrap" loan or a "buyout" loan.

Advance Rate: The percentage of funds extended to a client against eligible collateral as stated in a lending contract. Example: A client with a contractual advance rate of 80% assigns as collateral invoices totaling $100,000. The client receives a loan of $80,000 at once, and upon collection of the invoices, receives the balance of $20,000, on a day-to-day basis as collections are received, less any dilution or real or substantive charges that reduce collections.

Aging: Is a schedule of accounts broken down according to the month of an invoice’s original billing date.

Airball: The portion of an asset based loan which is not covered by collateral.

Appraisal: The valuation for collateral purposes of property, such as equipment or inventory, against which a loan is to be made.

Assignment of Accounts Receivable (Borrowing Base Report of Assigned Accounts): Is an instrument where a client assigns, reports or pledges receivables to the lender to secure a loan against that collateral.

Assignment Jacket: A physical pouch containing all bills and receipts that a borrower assigns to a secured lender.

Availability: The amount of money a client has available to borrow, determined by the sum of collateral values less all ineligibles, and multiplied by the agreed advance rate.

Average Collection Period (Turnover): Is the average number of days in that receivables liquidate into cash receipts.

Bailment: the transfer of possession but not ownership (by “Bailor"?or customer) of personal property (goods or other property) for a limited time or specified purpose (such as asset management, lending, or transportation). The business or person taking possession (is the “Bailee"?that may be  ACE is responsible on an agreed basis for the care and custody of those goods (also see De-possession). The typical elements of a bailment are delivery of the personal property, acceptance of the delivery, and possession or control of the property by a Bailee.

B
Bale capacity in cubic feet or metres; Box vans; or Bridge (of a ship).

b
Bin - tainers.

B 26
A bulk carrier of 26,000 dwts capacity with seven holds and of single deck construction ideal for world wide tramp operation especially bulk grain shipments with a speed of 15 knots.

B 30
A bulk carrier of 30,000 dwts capacity with five holds and single deck construction ideal for world wide tramp cargo operation with a speed of 15 knots.

B&D
Bad and doubtful debt (a debit that is unlikely to be repaid).

B.A.
Buenos Aires; or British Airways - U.K. National Airline and member of IATA.

BAA
British Airports' Authority.

BAC
Burma Airways Corporation and member of IATA.

BACC
British-American Chamber of Commerce.

Back Freight
Freight (additional) incurred through cargo being returned from destination port, usually because its acceptance was refused.

Back load
The return load in a transport unit, such as a road vehicle, thereby giving a loaded journey in both directions.

Back-pressure turbine
A steam turbine after which the exhaust steam is not immediately condensed but led away and used for heating or in some industrial processes. The exhaust pressure of this type of turbine is higher than that of the condensing turbine (q.c.), and the name derives from the fact that it is often a little above atmospheric pressure.

Back to back loan
Companies with surplus liquidity in one currency may wish to obtain funds in another, for investment or expansion, by employing their own surplus without conversion or incurring exchange exposure, or without incurring increased interest costs by borrowing unmatched funds; this may be arranged by means of a parallel, or back to back, loan. In such a situation a form of financing whereby money borrowed in one country or currency is covered by the lending of an equivalent amount in another.

Back up service:
The provision of ancillary services. A good example is the 'after sales service' which looks after customer needs following completion of the sale

Backwardation
A circumstance/situation whereby nearly 'future prices' are at a premium to 'forward prices'. A term used by BIFFEX.

Baco Liner
An ocean going barge carrier with a capacity of 21,000 dwt's and may carry 500 TEU's plus twelve barges below deck. The barges are transshipped from the mother vessel on arrival at the port area to be towed along the various inland waterways thereby providing a door to door service.

BACS
Ben Asia Container Services - a shipowner.

BAEC
British Agricultural Export Council.

BAF
Bunkering adjustment factory a bunkering surcharge.

Bag
A package made of paper, plastic, film or any woven material to be closed by such means as stitching, glueing or heat sealing or by a valve.

Baggage
Articles, effects, and other personal property of a passenger as are necessary or appropriate for wear, use, comfort or convenience in connection with his/her trip/journey. Unless otherwise specified it includes both checked and unchecked baggage. Also termed luggage. An IATA definition.

Baggage check
Those portions of the ticket which provide for the carriage of passenger's checked baggage and which are issued by the carrier as a receipt for passenger's checked baggage. An IATA definition.

Baggage checked
Basically 'registered baggage' which is baggage of which the carrier takes sole custody and for which the carrier has issued a baggage check. an IATA definition.

Baggage excess
That part of baggage which is in excess of the baggage which may be carried free of charge. An IATA definition.

Baggage handling
The process of handling passenger baggage at an airport or seaport.

Baggage reclaim area
An area at an airport/seaport where passenger baggage is placed following discharge/transshipment from a ship/aircraft. In so doing the passenger collects his/her baggage and accompanies it when presenting it to customs for baggage examination and customs clearance.

Baggage tag
A document issued by a carrier solely for identification of checked baggage. The baggage (strap) tag portion is attached by the carrier to a particular article of checked baggage and the baggage (identification) tag portion is given to the passenger. An IATA definition.

Baggage trolley
A trolly accommodating passenger baggage.

Baggage vehicle
A vehicle accommodating/conveying accompanied or unaccompanied passenger baggage.

Bagging of cargo
The process of placing into bags a specific merchandise. This may arise in the environs of a port where the merchandise arrives in a bulk carrier and on discharge the commodity is bagged for distribution purposes.

Bags
Method of packing cargo consisting of paper, plastic, cotton or jute bags.

Bahamian Dollar
The currency used in the Bahamas. See Appendix ‘C’.

BAHARI
Perusahaan Pelayaran Nusantara 'Bahari' - a shipowner.

Bahrain Dinar
The currency used in Bahrain. See Appendix 'C'.

Baht
The currency of Thailand. See Appendix 'C'.

Bailee
A person or entity/company responsible for goods whilst in his care.

Baiza
The currency of Oman. See Appendix 'C'.

Bal.
Balance.

Balance of payments
Financial statement of balance of a country's visible and invisible trade exports and imports.

Balance of trade
Financial statement of balance of a country's visible trade exports and imports.

Balboa
The currency of Panama. See Appendix 'C'.

Bale
A bundle or package of merchandise.

Bale space
Total amount of under deck cargo hold capacity expressed in cubic feet or metres available for shipment in bags, bales, or boxed cargo, and excludes space between frames and beams and odd corners which would be inaccessible to baled cargo.

Baling
Method of packing cargo for shipment.

Ballast
Liquid or other material loaded or pumped into ship's hold's tanks to vary the draught, regulate stability and improve the trim.

Ballast sailing
A vessel sailing empty other than ship's stores, bunkers and water ballast.

Ballast space
Portions of vessel (which may be loaded or empty) available to be filled with water, or heavy material to improve ship's stability.

Ballast tank
A double bottom peak, or deep tank for either fuel or water ballast to al~ the trim of a vessel thereby improving the stability.

Ballast trip
A vessel sailing empty other than ship's stores, bunkers, and water ballast.

Balloon
Credit terms under which the final repayment is larger than previous remittances. An international trade banking term.

Balloon repayment
When interest payments are 'rolled up' and not paid until the end of t~ loan period, at which time the loan plus interest is repaid in one lump sum An international banking term.

Ballot
A small bale of about 70 to 120 lbs (35 to 60 kgs).

Baltcon
Code name of charter party for coal trade issued by the Baltic and International Maritime Conference, Copenhagen adopted by the Chamber of Shipping of the UK.

BALTIC
Baltic Enterprises - a shipowner.

Baltic and International Maritime Conference
An international organisation of shipowner’s whose object is to unite the industry world wide and develop it to the long term benefit of the members.

Baltic Conference Ice Premium clause 1947
A BIMCO approved charter party clause which states 'any premium for insurance of the vessel against ice risks shall be borne by the chatterers.'

Baltic Exchange
The Baltic Mercantile & Shipping Exchange Ltd. - The Baltic – place in London where chartering transactions are predominantly undertaken.

Baltic Freight index
An index compiled by taking a specified number of dry cargo voyages; e voyage is weighted according to its importance in the market and historical data. Each day a panel of Baltic Exchange Members submits the spot rate which they consider applicable to each voyage. The secrecy of information allows known fixture rates to be included, the Panel Members are unaware of each others contribution and a random sort computer programme ensures total impartiality in assessing the information provided. Thus the daily index accurately and rapidly reflects each day's 'spot mark freight rate movements.

Baltic International Freight Futures Exchange
Situated' on the Baltic Exchange its objective is to provide a means by w many elements of the international freight and shipping industry protect themselves against adverse price movements. The futures market is one on which one can buy or sell on a series of conditions, standardised except for price and time of delivery. Hence it provides the trade with effective form of price protection by reducing the financial risk of buying or selling large quantities of forward freight.

Baltime 1939
Code name of time charter party approved by BIMCO. Various editions exist including those in French, Italian, Spanish, and English.

Baltime Form C
Code name for charter party for grain trade from USA/Canadian ports.

Baltpulp
Code name of charter party for pulp and paper from Finland issued by BIMCO.

Baltwar
The code name of a BIMCO approved charter party clause relative to ‘war’ and entitled 'Baltic Conference War Risks clause for voyage charters 1938'.

BAM
Bulk air mail.

BAMEFT A
British Malaysian Economic, Friendship & Trade Association.

Bani
The currency of Romania. See Appendix 'C'.

BANK
The Bank Line Ltd. - a shipowner.

Bank bill
A Bill of Exchange which permits funds to be drawn for a set period and amount. It is particularly useful to importers/buyers of raw materials or components who have to meet their costs before the finished goods are sold. See also acceptance credit entry.

Bank Commission
A commission charge is levied by banks for all remittances. An overseas bank may also make a charge for payment of mail or telegraphic transfers (bank drafts are usually paid by overseas banks free of charge). It is desirable agreement be reached between the importer (buyer) and the exporter (seller) as to who is to pay any charges.

Bank for International Settlements, Basle
Established in 1930, it now acts as agent for the European Monetary Agreement, but more important are its periodic meetings of European and US central bankers. The Bank's present stockholders are the central banks of 25 European countries and US commercial banks which are represented by the Federal Reserve Bank of New York.

Banking system
The practice of always keeping more than one pallet on the wharf or in the ship so that the hook does not have to wait for a load. A cargo handling term (ICHCA).

Bank rate
The minimum rate at which the Bank of England or a 'national' central bank will discount first class Bills of Exchange. It is usually called Minimum Lending Rate.

Banker's draft
A draft drawn by one bank on another bank in favour of a third party, or draft drawn by a branch of a bank on its head office (or vice versa) or upon another branch of the same bank, in favour of a third party. The draft should comply with the specifications laid down for cheques in the country, in which it is to be payable.

Bank selling rate
The rate at which a bank agrees to sell to its customer a specified amount of one currency in exchange for another currency. With a few exceptions a bank will always sell currency at a rate lower than that at which it will buy.

BAOVIET
Vietnam Insurance Company.

BAP
Bankers Association of the Philippines.

BAPPENAS
Indonesian Development Planning Board.

Bar
Barrel.

Barbados Dollar
The currency used in Barbados. See Appendix 'C'.

Bare-boat charter party
Charter party under which shipowner provides vessel and chatterer crew and cargo, normally for period of years.

Barecon
Code name of a Bareboat Charter Party issued by BIMCO. There is an ‘A' and 'B' version.

Barge
A cargo carrying inland waterway vessel. There are three categories of barges: self propelled, dumb and push tow. See separate entries.

Barge carrier
A vessel capable of conveying barges such as the LASH, BACO liner.

Barge-Carrying Vessel
Specialised sea-going ships, which can carry barges. This permits the separation of the ship, as a motive unit, from the barge, as a cargo-carrying unit, thus allowing the ship to proceed on its way while the actual cargo is handled. The barges are loaded/unloaded to/from the barge-carrying vessel mother ship by means of elevators, gantry cranes, or floatation, depending upon the types of barge-carrying vessel involved. The barges carried on barge-carrying vessels are known as Ship borne Barges and are dumb push tow craft. Four standard types of ship borne barges have been adopted by the International Standards Organization, as detailed below:

Length Beam Max. Draught
LASH 18.7m 9.5m 2.7m
SEABEE 29.7m 1O.7m 3.2m
DANUBE-SEA 38.2m 11.0m 3.3m
HALF-LASH 18.7m 4.7m 2.7m

The most popular type of barge-carrying vessel has so far proved to be the LASH concept.

Barge forwarding
The offloading of containers from vessel to barge for forwarding by river or canal.

Barratry
All willful acts or misdemeanors committed fraudulently and with criminal intent by the Master and/or Crew against the vessel or cargo without the knowledge or consent of the owners.

Barrel
A wooden receptacle made of natural wood of round cross section with bulging walls, constructed with staves, heads and hoops; or 42 US gallons (35 Imperial gallons).

Barrel handler
Fork lift truck. Fork lift truck equipped to handle barrels. See diagram II page 574.

Barrel hooks
A piece of cargo handling equipment used by dockers to hoist barrels or drums between the ship's hold and the quay.

Barriers to trade in shipping
A situation in the shipping industry which acts as a barrier(s) to a particular National Maritime fleet trading freely for traffic in the open market. It maybe reservation of cargoes; flag discrimination in its various forms; undue burdens on a particular national fleet operating in a particular trade; or directly prohibiting a particular national fleet operating in a particular trade and so on.

Barter
A counter trade technique which involves a direct exchange of goods. A single contract covers both barter flows and in the simplest cases no cash is involved.

BAS
Base.

BASATA
The British and South Asian Trade Association (BOTB).

Base date
The day, month, year or period on which the starting date of the index is based usually at 100. Ideally the base date should be representative or normal in the sense that the date chosen is not subject at that time to any irregular or abnormal influences.

BASEEFA
British Approvals Service for Electrical Equipment in Flammable Atmospheres (HSE).

Base-load power station
Power demand varies during the day and during the year. In most countries the daily demand is least at night and has two peaks during the day. Base load power plant runs continuously to supply the 'base' of the load demand, i.e., that which is present all or most of the time.

Base product
The product with which a particular Company/Entity is best known/ renowned and on which the marketing strategy is primarily based.

Basic currency
The currency in which rates of an IATA Area are specified by IATA.

Basic rate
The Air Freight rate based on either a specified or a constructed rate expressed in the basic currency as defined under Basic currency- an IATA B definition; or the public rate available to the market place.

Basis
Differential between physical market and futures market within the Freight market - a BIFFEX term.

Basket hitch
A method of slinging in which the chain forms a loop secured at its extremities to the upper terminal fitting, the load being cradled in the loop of the chain (ICHCA)

Basket of rates
A collection of rates involving for example various commodities or the I B same product from a number of different companies. This enables one to evaluate the similarity of the rates and the overall range. It can also be used as a basis for subsequent comparison at a later date..

BAT
Bureau of Air Transport (Philippines).

BATAN
Indonesian Atomic Energy Agency.

Battens
Strips of wood added to a box, crate, barrel, etc., to strengthen it.

Batteries, dry
The dry battery is a sealed, non vented battery of the type used in flash lights or for the operation of small apparatus. A term associated with dangerous classified transported cargo movement.

BB
Bulbous bow; or Below Bridges - vessel will load or discharge below B bridges i.e. London - below London Bridge.

BBA
British Business Association (Singapore).

BB Certificate
Certificate for clearance inwards of a vessel retained by the Master for inward clearance by the Customs Authorities.

Bbl
Barrel.

BBP
Built up non ferrous propeller (of a ship).

BBS
Barber Blue Sea - a shipowner.

BC
Budgetary Control; British Council; Bristol Channel; or bale cubic metres.

BCB
British Consultants Bureau.

BCC
Brazilian Chamber of Commerce; or British Chamber of Commerce.

BCCB
British Chamber of Commerce Bangkok.

BCF
Belfast Car Ferries Ltd - a shipowner.

B/Ch
Bristol Channel.

BCIC
Birmingham Chamber of Industry & Commerce.

BCP
Built up cast iron propeller (of a ship).

BCS
British Calibration Service.

BCSP
Built up cast steel propeller (of a ship).

BCV
Barge carrying vessel.

BD
British Midland - a UK airline; below deck; Billing day - the dispatch of an account to a customer; Bar draft; or below deck (of a ship).

BIDft
Bank draft.

bdi
Both dates inclusive.

Bdls.
Bundles.

BDT
Bureau of Domestic Trade (Philippines).

BIE
Bill of Exchange; Bill of entry, or British Embassy (HMG).

Beaching
Voluntary stranding of a vessel.

BEACON
British & European Shipping Lines Joint Container Service.

Bead
A circumferential convex (outward) rib mechanically expanded or pressed out.

Beam
Overall breadth of ship.

BEAMA
British Electrical and Allied Manufacturer's Association Ltd.

Beams
Athwartship steel rolled sections supporting the deck on a ship.

Bear
An investor or speculator who expects prices to fall in the market.

Bearer bond
The security of which ownership by the holder is presumed.

Bearing surface (ramp)
The underneath part of the ship ramp and which touches the quay or shore ramp, and on which the load is taken. (ICHCA).

Beaufort scale
Windforce expressed numerically on a scale generally from 0 to 12.

Beavertail
A low loading platform found on a road vehicle which has a sloping beyond the rearmost axle to facilitate loading.

BED BENC
Bureau of Energy Development (Philippines).

Bedplate
Structure forming base of a machine.

BEEA
British Educational Equipment Association.

BEHA
British Export Houses Association.

Belgian Shippers Council
The organisation in Belgium representing the interest of Belgian shippers in the development of International Trade.

Belgium Franc
The currency of Belgium. See Appendix 'C'.

Belly
Lower portion of an aircraft.

Belly container
Unit load device often with contoured profile, suitable for stowage in the belly holds of aircraft (ICHCA).

Belly hold
A confined space below the main deck of an aircraft used for carrying baggage, mail or cargo.

Belo - Luxembourg Chamber of Commerce
The organisation based in London representing Belgium and Luxembourg whose basic role is to develop, promote and facilitate international trade between UK and Belgium/Luxembourg and vice versa.

Belship
An ocean going heavy lift vessel capable of conveying heavy or bulky cargoes such as locomotives, transformers etc.

Benacon
Code name for Chamber of Shipping approved charter party for softwood from Eastern Canada: adopted by BIMCO.

BENBULK
Ben Bulk Timber Service - a shipowner.

Beneficial owner
The ultimate owner of a security, regardless of the name in which it is legally registered.

Beneficiary
An international trade term found in banking. The person to whom a credit is addressed and who may benefit from it.

Benefit of Insurance Clause
A clause in a contract of carriage by which the bailee of goods claims the benefit of any insurance policy effected by the cargo owner on the goods in care on the bailee. Such a clause in a contract of carriage, issued in accordance with the Carriage of Goods by Sea Act, is void at law.

BENELUX
A Customs Union established in 1948 in Brussels - an important forerunner of the Common Market. Its members include Belgium, Luxembourg and Holland, and is gradually being superseded by the larger Customs Union of the EEC.

BENOCEAN
Ben Ocean - a shipowner.

Berdiscon
The code name of a BIMCO approved charter party clause relative to a 'ready berth' and entitled 'Baltic Conference Waiting for Berth clause (discharging) 1964.'

Bermuda Dollar
The currency used in Bermuda. See Appendix 'C'.

Berne Union
The International Union of credit and investment insurers founded in 1934.

Berth Accommodation
Sleeping accommodation on a ship or train; or area allocated at a quayside to a particular Shipping Service, Company, or other specified purpose for berthing; or a point to which a chartered ship is ordered to load or discharge, or operate a service.

Berth charter
A voyage charter party which specifies the vessel to discharge her cargo at a specified berth and in so doing the vessel will not have officially arrived until she actually reaches the named berth where cargo operations are to be performed.

Berthing of ships
The process of a vessel entering a port/harbour and subsequently being moored/berthed/tied up alongside a particular quay/berth.

Berth No Berth
If the location named for loading/discharging is a berth and if the berth is not immediately accessible to the ship, a notice of readiness can be given when the ship has arrived at the port in which the berth is situated. Alternatively it may be termed 'whether in berth or not'. A charter party term.

Berth terms
A chartering term whereby the shipowner may agree to his vessel's loading or discharging operation being subject to the custom of the port where the cargo handling is taking place, or he may be agreeing that the vessel will load or discharge as fast as can or under customary dispatch or any or all of this type of term. See 'custom of the port' and 'as fast as can entries'.

Berth user
The degree of utilisaton/occupation of a particular berth at a port, or a berth in a cabin on a ship.

BESO
British Executive Service Overseas (ODA).

BETA
Business Equipment Trade Association (UK).

Beta Factor
A factor used to calculate the degree of correlation between the (BIFFEX)

BEUC
Index and a particular route. A term used by BIFFEX.

BEUC
Bureau European des Unions Consommateurs (French) (European bureau of consumer unions based in Brussels); or Bureau of Energy Utilization (Philippines).

BF
Bridge/Forecastle.

Bf
Brought forward; or bring forward.

BFC
Baltimore Berth Grain Charter Party 1913.

BFCD
Bureau of Flood Control and Drainage (Philippines).

BFD
Food and Drugs Bureau (Philippines).

BFEC
British Food Export Council.

BFI
Baltic Freight Index.

BFO
Bunker fuel oil.

BFSL
Burma Five Star Line.

BFT
Bureau of Foreign Trade (Philippines).

Bg
Brig.

BH
Bill of Health, or Bulkhead(s).

BHC
British High Commission.

BHCEC
British Health-Care Export Council.

BHEC
British Hospitals Export Council (now BHCEC).

bhp
Brake horsepower (oil engines).

BH Range
Range of ports between and including Bordeaux and Hamburg.

BI Royal Brunei
The National Airline of Brunei and member of IATA.

Bias belted
A pneumatic tyre, the structure of which is such that the ply cords extend to the bead so as to be laid at alternate angles of substantially less than 90 degrees to the peripheral line of the tread and are constrained by a circumferential belt comprising two or more layers of substantially inextensible cord material laid at alternate angles smaller than those of the ply Cord structure.

BIC
British Importers' Confederation.

Bid
An offer to purchase at a specified price - a BIFFEX term; or bureau of Industrial Development (Philippines).

Bid bond
A bond provided to support the exporter's offer to supply the goods or services. It is an indication to the buyer of the serious intent of the exporter in bidding for the contract. The bond is usually required for amounts of two to five per cent of the tender. Also termed tender bond. An international banking term.

Bid rate
The lower side of interest rate quotations; it is the rate of interest a bank is prepared to pay for deposits or to acquire securities.

BIE
Bureau International des Expositions (French) (Organisation for International Exhibitions) - based in Paris.

BIFFEX
The Baltic International Freight Futures Exchange.

Big figure
Foreign exchange dealers' term for the major digits of an exchange rate e.g. $1.90 to £1.00. Quotes between dealers assume the 'big figure' i.e. $1.90 and are only negotiated on decimal points smaller than that e.g. '40/50' meaning $1.9040 to $1.9050 to the £1.00.

Bilateralism
Trade between two countries.

Bi-lateral road agreements
A situation/circumstance whereby two countries formulate an agreement for the movement of merchandise by goods vehicles. In the main the agreement permits the conveyance of goods to, from and in transit through the country concerned. It embraces the acceptance of a return load and applies to haulers involved in the 'hire and reward' operations. An example arises where a vehicle from the UK may enter or leave Austria in a loaded or empty condition and permits the movement of road haulage merchandise between Austria and a third country, in either direction, provided this is allowed by the law of the third country, and accords with agreement between that country and the UK or Austria.

Bilateral Trade Agreement
An agreement between two trading countries. It may be over a specified period involving particular goods and services up to a specific overall value such as £200 million over five years, or simply in general terms to facilitate trade between the two countries.

Bilateral Trade Treaty
Trade treaty between two countries.

Bilge
The curved portion often circular between the bottom and side shell plating of a ship; or the largest circumference of a barrel.

Bill
The shortened term for the Bill of Exchange.

Billing of customers
The process of dispatching accounts to clients for payment.

Bill of Exchange
An unconditional order in writing, addressed by one person to another signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time, a sum of money to, or to the order of, a specified person, or the bearer.

Bill of Health
Document certifying health of every passenger/crew member is free of any contagious disease.

Bill of Lading
A receipt of goods shipped on board a ship signed by the person (or his agent) who contracts to carry them, and stating the terms on which the goods are carried. It is a document of title and as such is required by the importer to clear the goods at the port of destination. The documentary (letter of credit will specify what type of bill of lading is required. The bill of lading information includes the name of the shipping company; the name of the shipper (usually the exporter); the name and address of the importer (consignee) or order; the name and address of the notify party (the person to be notified on arrival of the shipment usually the importer); the name of the carrying vessel; the names of the ports of shipment and discharge; the marks and numbers identifying the goods; a brief description of the goods (possibly including weights and dimensions); the number of packages whether freight is payable or has been paid; the number of originals in the: set; the signature of the ship's master or his agent; the date on which the: goods were received for shipment and/or loaded on the vessel (this must not be later than the shipment date indicated in the credit); the signature of the exporter (or his agent) and his designation if applicable.

Bills of lading are usually made out in signed sets of two or three origin copies known as negotiable copies, anyone of which can give title to the goods. The number of copies in a set is shown on each copy. There may also be non-negotiable (unsigned) copies which are not documents of title and are normally used for record purposes. The credit will indicate how the various copies of the bill of lading are to be distributed.

The reverse of the bill of lading bears the terms and conditions of the contract of carriage. The clauses on most bills of lading will be similar in effect if not in wording. A bill of lading should be 'clean,' i.e. contain no superimposed clause recording a defective condition of the goods or their packing.
The goods can be consigned 'to order' which means the importer can authorize someone to collect the goods on his behalf. In this case the bill of lading will be endorsed, normally on the reverse side, by the exporter. If the importer (consignee) is named, the goods will only be released to him, unless he transfers his right by endorsement. The bill of lading must however, provide for this.

Bill of Lading frauds
The forgery of a Bill of Lading for non-existent goods, or by the shipowner against the chatterer. It may arise through fraud by the seller, or fraud by the buyer. It can also arise through a general average fraud.

Bill of lading (house)
A document of carriage issued by a forwarding agent to his principal or a domestic document between two ocean carriers when they are carrying each other's cargo.

Bill of Lading issued to a named party (and not to order)
A bill of lading issued to the name of a certain party and which cannot be transferred by endorsement.

Bill of Lading ton
The greater of weight or measurement of goods where one tonne is either 1,000 Kilos or one cubic metre.

Bill of Materials
A specification of the nature and quantity of the materials and parts entering into a particular product.

Bill payable
A bill of exchange or promissory note payable, prepared by a drawer to a specified payee, and often subject to acceptance by a third party as a guarantee or as a discounter.

Bill receivable
A bill of exchange or promissory note receivable.

Bill of Sale
A registered transfer of goods to a person for some consideration empowering him to dispose of them upon non-fulfillment of certain conditions.

Bill of Sight
A custom import form used when the importer is unable to make a complete customs entry owing to insufficient information from the shipper. A Customs Officer opens and 'sights' the goods and the information thus provided enables a normal entry to be made.

Bimchemtime
Code name of BIMCO approved time charter party for the bulk shipment of chemicals in tankers. It was introduced in 1984.

Bimchemvoybill
Code name of BIMCO approved Bill of Lading for shipments on the Bimchemvoy Charter Party.

Bimchemvoy
Code name of approved BIMCO voyage charter party for the shipment of chemicals in tank vessels.

Bimcosale
Code name of BIMCO approved standard Bill of Sale.

BIMCO
The Baltic & International Maritime Conference with headquarters in Copenhagen. An International Association of Shipowners.

Bimetallism
Adoption of two metals (silver and gold for example) as legal tender.

BINT ANG
Bintang Lines - a shipowner.

Bin type container
An ISO container designed for the shipment of bulk grain/coal/fertilizer/powder type cargoes. See diagram I page 573.

BIP
Baggage improvement programme - IATA term.

BIRD
Banque Internationale pour la Reconstruction et Ie Development (French International Bank for Reconstruction and Development.

BIRPI
United International Bureau for the Protection of Intellectual Property Geneva.

Birr
The currency of Ethiopia. See Appendix 'C'.

BIRU
Perkapalan Lautan Biru - a shipowner.

BIS
Bank for International Settlements, Basle. Established in 1930, it now acts as agent for the European Monetary Agreement, but more important are its periodic meetings of European and U.S. central bankers. The Banks present stockholders are the central banks of 25 European countries and U.S. commercial banks which are represented by the Federal Reserve Bank of New York.

Biscoilvoy
Code name of approved BIMCO voyage charter party for the shipment of vegetable/animal oils and fats.

Biscoilvoy bill
Code name of BIMCO approved Bill of Lading for shipments on the Biscoilvoy charter party.

BISRA
British Iron & Steel Research Association.

BIT
Bureau International du Travailler (French). (International Labour Organisation).

BK
Bar Keel.

Bk
Bulk tainers.

BKK
Bangkok IATA definition.

BKKA
Foreign Contractors Co-ordinating Body in Pertamina (Indonesia).

BKPM
Indonesian National Co-ordinating Investment Board.

B/L
Bill of Lading.

Black plate
A term covering many types of uncoated mild steel sheet.

Black powder
The oldest and most widely known explosive material. It is a mixture sulphur, charcoal, sodium or potassium nitrate and is made in several grain or practical sizes. Also some black powder grains are glazed whilst others are not. A term associated with dangerous classified cargo transport movement.

Blackseawood
Code name of charter party to cover timber shipments from USSR, Rumanian Black Sea ports and Danube ports.

Blackseawoodbill
Code name of BIMCO approved Bill of Lading for shipments on the Blackseawood charter party.

Blades (Chisel forks)
Extremely thin wide forks on a fork lift truck used for sliding beneath loads which are not on pallets - often termed chisel forks. (ICHCA).

BLC
Ben Line Containers Ltd. - a shipowner.

BLCC
Belo-Luxembourg Chamber of Commerce.

Bleeding
The act of cutting full bags of bagged cargo.

Blending
The process of mixing differing aggregate powders or ores according to a pre-determined formula or ratio. (ICHCA).

BLEU
Belgium - Luxembourg Economic Union.

BLK CAR
Bulk carrier.

Block Booking
The process of an entity having a contractual arrangement with a retailer for the former to provide a specified capacity on specified dates in return usually for a form of guarantee. This facilitity may be on transport services such as a ship, airline, train; a hotel for a particular season; a theatre and so on. Such an arrangement is usually undertaken by an Agent.

Block Coefficient (CB)
A measure of the fullness of a vessel: volume of displacement/length x breadth x draught. (ICHCA).

Blocking off
Making the cargo tight when the holds are not full to prevent cargo shifting during the voyage.

Blocks, chains and shackles
Ships equipment.

Bloodstock
Horses - usually with the conveyance of live horses by air or sea transport.

Bloodstock rate
The rate applicable to the movement/conveyance of live horses by air or sea transport.

BLR(S)
Boilers.

BLT
Bureau of Land Transport (Philippines).

B/L Ton
Bill of Lading ton.

Blue book
A booklet issued by H.M. Government Department of Trade and indicates requirements for Dangerous Goods aboard British ships or any ship in; British Ports. It largely refers to the International Maritime Dangerous Goods Code for the carriage of dangerous goods in ships. The Blue Book deals with recommendations for dangerous cargo packing/shipment.

BLUEFUNNEL
Blue Funnel (SEA) Centaur - a shipowner.

BLUESTAR
Blue Star Line - a shipowner.

Bm
Board measure (timber).

BM
Boom.

BMA
Bangkok Metropolitan Administration.

BMEC
British Marine Equipment Council.

BMEG
Building Materials Export Group (UK).

bmep
Brake mean effective pressure.

BMITA
British Malaysian Industry & Trade Association.

BMLA
British Maritime Law Association.

BMTA
The Bangkok Mass Transit Authority.

BN
Brussels Nomenclature - now known as Customs Co-operation Council,- Nomenclature.

BNA
British North Atlantic - defines North Atlantic Institute Warranty Limits.

BNCEL
National Bank for Foreign Trade (Laos).

BNCIICC
British National Committee of the International Chamber of Commerce.

Bo
Brokers order; buyer’s option; or branch office.

BO
Boiler manufacturer.

BOAG
British Overseas Aid Group (Oxfam etc).

Boarding gate
The departure gate at an Airport Passenger terminal through which passengers assemble and ultimately are processed prior to joining/boarding their specific flight/aircraft.

Boarding pass
A form of ticket enabling/authorizing the holder to board a specific flight or sailing. In the case of an airline it is usual to specify the seat number, the flight number and name of the passenger. With regard to the shipowner, usually no details are given of the sailing departure time. The boarding pass is obtained when the passenger 'checks in' for a specified flight or sailing. It is a form of passenger control.

Boatage
Taking of mooring lines ashore.

Boatswain
Able seaman 20 years of age or over with at least four years service on the deck.

Body flange
The outward flare of the body of a metal drum in preparation for a double seaming.

BOEA
British Offshore Equipment Association.

BOGIE
A set of wheels specially constructed for use under a container, railway wagon or chassis.

Bogie lift
Device which enables one axle of a bogie to be raised from the ground usually by a pneumatic system on a road vehicle.

BOI
Board of Investment (Philippines); or Office of the Board of Investment (Thailand).

Boiler survey
Examination of ship's boiler by surveyor.

Bolivar
The currency of Venezuela. See also Appendix 'C'.

Bolivian Peso
The currency of Bolivia. See also Appendix 'C'.

Bollard
Cast-steel posts, with a swelling head, and secured to a wharf or pier and used for mooring vessels.

Bolster
Component of a skeletal trailer that supports twist locks (ICHCA).

bona fide (Latin)
In good faith, without fraud or deceit.

Bona vacantia (Latin)
Ownerless or heirless property.

Bond
Guarantee to Customs of specified amount of duty to be paid; or security in registered or bearer form usually with coupons attached bearing interest at a fixed or variable rate.

Bonded cargo
Cargo which is in transit passing through a country and usually not subject to any customs examinations at customs Frontier points, or cargo imported into a country and placed in a bonded warehouse pending customs clearance. See Bonded warehouse entry.

Bonded goods
Dutiable goods upon which duty has not been paid i.e. goods in transit I warehoused pending customs clearance (ICHCA).

Bonded warehouse
Accommodation under Customs surveillance housing highly dutiable call i.e. tobacco, spirits which may be stored on importation and withdrawn' BOI importers convenience on payment of relevant duty. Depending on lit customs regulations the goods may be unpacked, repacked, relabeled cleaned, sorted and tested. In some situations certain modes of assembly are permitted.

BONVOYAGE
Bon Voyage Shipping Line - a shipowner.

Booked traffic
Traffic which has reserved accommodation earmarked for it on a particular transport mode service. It may be on a passenger train, passenger flight~ cruise and so on.

Booking cargo space
The process of booking cargo space on a transport unit which may be a ship B aircraft, lighter age and so on.

Booking office
A point of sale dispensing travel and/or theatre etc. tickets.

Booking system
The process of the client reserving accommodation for a particular facility service, or product. It may be booking for an appointment to see a Doctors or, hairdresser, or reserving a seat on train, theatre or ships cabin.

Boom lift type Forklift truck
A fork-lift truck equipped to handle pipes, carpets etc. See diagram II page 574.

Booster
Articles containing a detonating explosive and used to increase the initiating power of detonators or detonating cord. A term associated with dangerous classified cargo movement.

BOP
Bureau of Post (Philippines).

Bore
A tidal flood which rushes up the mouth of a river and meeting the ebb tide gor opposing current forms a wall of water which increases in height as~ river narrows.

BORO
Bulk/oil and ro/ro vessel.

BOSVA
British Offshore Support Vessels Association.

BOT
Board of Trade of Thailand.

BOTB
British Overseas Trade Board. UK Government organisation responsible for developing exports.

BOTGI
British Overseas Trade Group for Israel.

Bottle
A small narrow necked receptacle usually of glass, stoneware or plastic.

Bottlescrew
A tensioner that is tightened by turning a threaded screw with left and right and 'thread. Also termed a turn buckle or screw (ICHCA).

Bottom line
The ultimate final financial result of an enterprise which may be a profit or loss situation.

Bottom out
A term associated with a freight rate, currency exchange rate and so on, indicating the rate has reached its lowest level having regard to market conditions.

Bottomry Bond
Process of Master pledging his ship or part of it to secure money to enable voyage to continue.

Bows
Extreme forward end of vessel.

Bow thruster
Reversible propeller to give movement athwart ships in either direction hereby aiding ship maneuverability especially in confined waters.

Bow visor
Upward hanging portion of the bow to allow vehicle access to and from the vessel via the shore based ramp.

Box
A complete package with rectangular sides, of wood, plywood, reconstituted wood, fibreboard, metal, plastics, or other suitable material and without orifice; or a container; or a portion of a strip or a portion of a column contained within imaginary or printed lines found on export or import documentation.

Boxer class
A container type vessel.

Box K
Box keel (on a ship).

Box one piece
A fibreboard box with one manufacturing join, constructed as a complete sleeve’, the top and bottom each being formed by four flaps.

Box pallet
A pallet with sides (or sides and top) mostly of wire mesh or grilles. Standard box pallets on 800mm or 1,200mm bases are exchangeable pallet pool equipment in parts of Europe (ICHCA).

Box pull through
A fiberboard box consisting of one or two creased sheets placed within an outer sleeve to which it is (they are) stitched or taped.

Box rate
A container rate.

Box three piece
A fiberboard box consisting of a body sleeve or envelope sometimes having flanges at the openings, a lid and a bottom which are usually identical components in the shape of trays.

Box trailer
A trailer whose body consists of a metal box similar to a container which can be sealed and which permits goods to be shipped with maximum security.

Box wood frame end
A fibre board box in which the body section consists of a single s~ forming the sides, bottom and lid, with an overlap at the joint: the two ends consists of a fibreboard panel fastened to the wooden frame of the ends,

B/P
Bills payable.

BP
Bollard pull in long tons; or Air Botswana - International Airline Botswana and a member of I.A.T.A.

BPA
British Ports Association.

BPF
British Plastics Federation.

BPHR
Bureau of Ports, Harbours and Reclamation (Philippines).

BPI
Burma Pharmaceutical Industry.

bpm
Best Practical Means.

BPSS
Barge-mounted production and storage system.

BR
Bulgarian Register of Shipping - the Bulgarian Ship Classification Society boiler room; vessels classed by the Brazilian Register - Ship Classification Society; British Rail; or British Caledonian - a UK airline.

B/R
Bills receivable or builders risk.

Brake-horsepower
The amount of horsepower produced by an engine on a bench test. Gross brake horsepower is the total power produced, whilst nett brake horse power is the total power, less losses caused by driving auxiliaries (water pump, engine fan, alternator) and other auxiliaries such as air cleaners, and silencers, all of which reduce the usable horsepower.

Brand image
The general market place assessment of a particular Company. It may be good, bad or indifferent. An example arises in 'M & S' involving Marks and Spencer.

Brand Loyalty
The process of the market place supporting a particular Company product(s)/ service(s) such as 'M & S' involving Marks and Spencer product"

Brand marketing
The process of promoting a Company in the market place using the Brand image such as 'M & S' involving Marks and Spencer. In so doing d promotion would not advertise any product or service but simply promote the general Brand image of the Company in the market place.

BRAS
Building Research Advisory Service (BRE).

Brazilian Chamber of Commerce
The organisation based in London representing Brazil whose basic role is to develop, promote and facilitate international trade between UK and Brazil and vice versa.

Brazilian Register
Ship Classification Society of Brazil.

BRB
British Railways Board.

BRE
Building Research Establishment (DOl).

Break bulk
General cargo conventionally stowed as opposed to bulk, unitized, or containerized cargo (ICHCA); or goods that have been stripped from containers (or other form of bulk carriage) for forwarding to final destination.

Break bulk cargo
Goods shipped loose in the ship's hold and not in a container.

Break even weight
The weight at which it is cheaper to charge the lower Air Freight rate for the next higher weight break multiplied by the minimum weight indicated, than to charge the higher rate for the actual weight of the shipment.

Breaking bulk
To open hatches and commence discharge.

Breaking load
Minimum load applied at which fracture occurs. (ICHCA).

Break of journey
A condition of carriage term permitting passengers to break their journey en route on a full fare paying ticket provided all travel is completed within the validity of the appropriate portion of the ticket.

Break point/weight
The chargeable weight of an air freight consignment beyond which it is cheaper to charge for a higher weight which has a cheaper rate per kilo.

Breakwater
An above deck structure designed to protect containers from heavy seas.

Breech base
A low profile dock socket working on the same principle as the breech of a cannon. (ICHCA).

BREEMA
British Radio and Electronic Equipment Manufacturers Association.

Bretton Woods
In 1944 an International Monetary and Financial Conference of the United and Associated nations was held in Bretton Woods, New Hampshire, USA, to discuss alternative proposals relating to post-war international payment problems put forward by the USA, Canadian and UK Governments. It resulted in the establishment of the International Monetary Fund in 1944 and later the International Bank for Reconstruction and Development.

Bridge
Navigating centre of a ship.

Bridge felting
Felting that may be tensioned for rigidly connecting the corner castings of adjacent containers or tiers (ICHCA).

Briefing
The process of appraising/informing a person(s) of a particular situation,: maybe prior to a meeting, a sales conference to outline selling techniques and so on.

Brings an action against him
The process of the plaintiff sueing the plaintiff - a legal term.

Britcont
Code name of Chamber of Shipping approved charter party for the home trade 1928; or Code name of BIMCO approved Bill of Lading for shipments on the Chamber of Shipping General Home Trade Chart~ 1928.

British Airways
A UK International Airline and a member of IATA.

British and South Asian Trade Association
Organisation responsible for developing/facilitating international trade between UK and South Asia.

British American Chamber of Commerce
The organisation based in London representing USA whose basic role is to develop, promote and facilitate international trade between UK and USA

British Caledonian Airways
A UK International Airline and a member of IATA.

British East Africa Containers
The consortium in which the Overseas Container Ltd trades in the Europe- East Africa service.

British Importers Confederation
An organisation in the UK who aims to look after the interest of parties concerned with importing goods into Britian. Membership is comprised of individual businesses and import trade associations.

British Midland
A United Kingdom airline.

British Overseas Trade Board
The UK Government department responsible for the promotion and development of overseas trade.

British Overseas Trade Group for Israel
Part of the BOTB organisation and responsible for developing/facilitating UK exports to Israel.

British Railways Board
The Directorate responsible for the management of the State owned railway network in the United Kingdom.

British Shippers Council
The organisation in UK representing the interest of UK shippers ~ National and International level in the development of international trade It now forms part of the Freight Transport Association.

British Soviet Chamber of Commerce
The organisation based in London representing USSR whose basic role is to develop, promote and facilitate international trade between UK and USSR and vice versa.

British Standards Institution
A recognized body in the UK for the preparation and promulgation of national standards. It represents the UK in the International organization for Standardization (ISO) in the International Electro technical Commission and in other Western European organisations concerned with harmonization of standards. Its work governs the preparation of glossaries of terms, definitions and symbols, methods of test, specifications for quality, safety, performance or dimensions, preferred sizes, and codes of practice.

British Waterways Board
The nationalised authority in Great Britain responsible for the maintenance of and navigation on much of the British inland waterway network. British Waterways Board also operates their own freight handling facilities, including docks, inland depots and barge fleets.

BRITSHIPS
A computer based system providing a comprehensive range of facilities for shipbuilding applications comprising three subsystems: BRITDES for Ship Design; BRITLOFf for Lofting; and BRITDET for Detail Design and Draughting.

Broken stowage
Space wasted in a ship's hold, container, trailer, railway wagon, by stowage of uneven cargo i.e. irregular shaped consignments.

Broker
A person who transacts the business of negotiating between merchants and shipowners respecting cargoes and clearances; or one who effects insurances with the underwriters; or one who trades on behalf of a client for a commission.

Brokerage
Percentage of freight payable to broker on completion of charter party negotiations of sale or purchase of vessel - the time of payment being specified in the contract; or the commission charged by a broker to his clients - a BIFFEX term.

Brunei Dollar
The currency in Brunei. See also Appendix 'C'.

Brussels Nomenclature
International agreed tariff classification system containing 21 sections, subdivided into 99 chapters with 1095 headings for all goods in international commerce. It is now known as the Customs Co-operation Council Nomenclature.

BIS
Bales or barrels.

BS
Bill of Sale; hull and equipment of iron and steel ships classed according to former British Corporation Rules; boiler survey; balance sheet; bill of store; or bow and stem thruster.

BSC
British Shippers Council; Belgian Shippers Council; British Steel Corporation; or Bangladesh Shipping Corporation - a shipowner.

BSCC
British-Soviet Chamber of Commerce; or Brunei State Chamber of Commerce.

BS (Comp).
Composite ships classed according to former British Corporation Rules.

BSF
British Shipping Federation.

BSI
British Standards Institution - authorised body for the preparation, National standards in the United Kingdom.

BSJC
British Seafarers' Joint Council.

BSMI
Bureau of Small and Medium Industries (Philippines).

BSP
Brunei Shell Petroleum Co Ltd.

BSRA
British Ship Research Association.

BSS
British Standards specification.

BST
British Summer Time.

BT
Bow thruster (ship propulsion unit); or British Telecom.

bt
Berth terms.

BTA
British Tourist Authority.

BTG
British Technology Group.

BTMA
British Textile Machinery Association.

Btm
Bottom (of a ship).

BU
Bulgarian Register of Shipping - vessel classed by Bulgarian Ship Classification Society.

Bucket elevator
Cargo handling equipment used for grain.

Budget
The process of formulating forecast and objectives of either expenditure and/or revenue including traffic volume during a specified future period for a particular service/trade or Company.

Budget analysis
The process of analyzing a budget compared with for example actual result during a specific period and area of the business.

Budgetary control
A management aid whereby a particular Company, or entity will prepare through its most senior Management a budget reflecting Company aims/ policy for the forthcoming year, or in some cases a three or five year period. The one year budget would be the more detailed and all sponsoring Executives involved in its compilation would be committed to its realization. It would embrace income (sales), expenditure, investment and cash flow. Budget statements compared with actual results would be issued each month, quarterly or other convenient period, and significant variations discussed by Management and any remedial measures instituted. It is a modem Management aid of financial discipline on an individual participating sponsoring Executive basis.

Budgeted cost
Those costs as predicted in the budget.

Budgeted income
The income or revenue as predicted in the budget.

Budgeted profit
The profit as predicted in the budget.

Budget Officer
The post in a particular organization responsible for devising the specified budget and instituting the appropriate measures and systems to ensure Management are able to compare the actual results of the Company with the Budget. In so doing Management would need to have explanations of any significant budget variations and details of any remedial measures in activities which need such treatment. The budget may be on income (sales), expenditure, investment, cash flow and so on. A monthly or quarterly statement may be prepared to record actual results against the budget. Each Sponsoring Officer would submit to the Budget Officer a commentary on the basis of the Budget submitted. Likewise the Budget Officer would circulate to all Senior Management requisite guidelines on how the budget is to be compiled and other requisite data such as economic forecasts, exchange rates etc.

Budget review
The process of reviewing the constituents of a budget by the sponsoring officer(s) within an entity. This may be due to a large order being obtained. In such a situation production will need to be increased in the factory and a fresh look taken at the unit production cost in the light of the desire to optimize economic resources within the production plant.

Buckling
To crumple under longitudinal pressure.

Buffer
A cushioning device to reduce shunting shocks on rail cars. (ICHCA).

Buffer stocks
The process of storing a specific commodity/merchandise to meet an unpredictable market need thereby enabling such a product to be distributed to the consumer/retailer as soon as the market demand dictates. In such a situation the buffer stocks acts as a distribution centre for the product either worldwide, nationally, or on a regional/area basis.

Building subsidies
A Government subsidy granted to shipowners to encourage them to' built new vessels and so displace usually less modern tonnage.

Built up vehicles
Vehicles (cars/coaches/lorries etc) in finished/complete condition. A used in the conveyance of such vehicles by sea transport.

Bulgarian Register of Shipping
The Bulgarian Ship Classification Society.

Bulbous bow
Protruding bow below the waterline designed to reduce the VI resistance to motion under certain circumstances, such as to aid economical operation through less pitching of the vessel.

Bulk Air Mall
A facility provided by the British Post Office for overseas mail sp geared to large quantity dispatches of printed papers to Europe.

Bulk cargo
Cargo usually a homogeneous raw material shipped in bulk i.e. COIDI shipments.

Bulk carrier
Purpose built vessel specializing in the shipment of bulk cargoes i.e. iron ore, grain

Bulk container ship
Vessel that carries either bulk cargoes or containers simultaneously or consecutively. (ICHCA).

Bulk dry and wet cargo berth
A berth situated at a seaport which accommodates handles bulk dry wet cargo shipments such as cement, fertilizers, grain, rice, wine and so on.

Bulk dry cargo berth
A purpose built/designed berth situated at a seaport which accommodates handles bulk dry cargo shipments such as cement, fertilizer, phosphate so on. A modern bulk dry cargo berth would by fully automated.

Bulk freight container
Any container, which by its own peculiar design i.e. roof loading hatches and door front wall discharge hatch will allow bulk handling of commodities. (ICHCA).

Bulkhead
Vertical partition which subdivides interior of ship into compartments or sometimes used to denote the front wall, i.e. opposite the doors container. (ICHCA).

Bulk licence
Licence issued to manufacturers and exporters to cover their requirement for a certain bulk quantity or period.

Bulk liquid berth
A purpose built/designed berth situated at a seaport which accommodates handles bulk liquid cargo shipments such as oil, liquid propane gas an on. A modern bulk liquid berth would be fully automated.

Bulk liquid bag
A form of collapsible container made of rubber and ideal for bulk lie; shipments.

Bulk liquid container
An ISO container designed for the shipment of bulk wine/spirits/oil chemicals type cargoes.

Bulk transshipment centre
A terminal linking two modes of transport where bulk cargo is loaded and/ or discharged by mechanical means. It is usually situated on a berth at a seaport and cargo handled includes coal, ore, cement, phosphate, gravel and so on.

Bulk unitisation
Using a container, road trailer or railway wagon to group a quantity of small consignments together. Often called consolidation and sponsored by a Freight Forwarder.

Bull
A speculator who buys for future delivery hoping to sell at a profit before he has to take delivery.

Bullet
A loan or placing for which no 'managed' sinking fund is established and repayment of the loan is made at maturity in a lump sum. An international Banking term.

Bullion market
A market where dealers both buy and sell gold and silver on behalf of their clients.

BULOG
Indonesian Logistics Bureau for Essential Foodstuffs.

Bulwark
The raised woodwork running alongside the vessel above the level of the deck or a breakwater.

Bum-boat
A boat which supplies provisions to a ship in a harbour or in a roadstead.

BUNDES
Austrian Committee/Organisation on Trade Procedures and Facilitation based in Vienna.

Bundling yard
A place where timber is bundled. It is usually situated in the environs of a port.

Bung
A plug used to close a barrel bung hole.

Bunker Adjustment Factor
A surcharge expressed either as a percentage of the freight or a price per cargo tonne W/M, added when fuel prices increase above the level allowed for by air or shipping lines in their freight rates. Overall a bunkering surcharge on the freight rate.

Bunkering
The process of refueling a vessel.

Bunkering barge
A barge operative usually in the environs of a port which provides a bunkering service to those vessels at anchor.

Bunkering surcharge
A technique whereby a surcharge is raised by the shipowner on the basic freight rate to reflect increased fuel cost incurred due to the upward prir4 fuel oil which may be attributable to currency variations or simply I increase in the basic bunker rate. The bunkering surcharge may be later consolidated with the basic rate etc. It is sometimes called a fuel surcharge.

Bunkers
Ships fuel.

Bunker port
A port which is available for bunkering ships.

Bunker safety surplus
The additional bunkers conveyed on board a vessel. This may be some 15 per cent in addition to the actual bunkers required for normal consumption for that leg of the proposed voyage.

Bureau Veritas
French Ship Classification and Survey Society.

Burning cost
A loss ratio determined from the statistics of a number of preceding years in order to assess the premium to be charged to the reinsured in connection with excess loss reinsurance.

Burning oil (Kerosene)
A refined petroleum distillate intermediate in volatility between m~ spirit and gas oil, used for lighting and heating.

Burster
Cases charged with detonating or deflagrating explosive used to burst projectiles or bombs in order to project or disperse their contents. The burster is no larger than is required to burst the case and disseminate~ contents. A term associated with dangerous classified cargo transport movement.

Burundi Franc
The currency of Burundi. See also Appendix 'C'.

Bushing
A circular flush or low profile deck socket (e.g. post socket, or flush ISO hole deck socket). (ICHCA).

Business acumen
The ability of a person to identify, create and cultivate maximum .advantage of business opportunities which maybe self created or simply arise through a particular circumstance. In so doing the person will develop through his own enterprise the business on a profitable long term basis improving overall market share.

Business centre
A place where Business facilities are provided. It includes, conference facilities, secretarial resources, dictating and repro graphic services, reference library, telecommunications including telephone and telex, restaurant computerized facilities including computerized press facilities, conference hall and meeting rooms, language service and so on.

Business Houses
A retail outlet specialising in the Businessman's needs in the travel sector embracing all its infrastructure such as concluding the arrangement of an overseas trip involving hotel, travel, entertainment and so on.

Business interruption
An insurance covering the loss of earnings of a business following fire or other specified damage. It is also called consequential loss.

Business Management
The technique(s) of managing a business.

Business organization
A company organisation structure usually based on the business markets which the specific company serves.

Business plan
A plan or programme covering a period usually between three to five years featuring the Company intentions/objectives/policy and identifying annually by service/product/activity etc., the predicted level of income, expenditure and capital investment.

Business travel
A passenger whose journey purpose is to fulfill a business engagement such as to attend a meeting, meet a client, attend a conference and so on. This forms a large part of the passenger market in many sectors and special arrangements are usually provided to meet the businessman's needs traveling on an expense account.

Business travel market
That segment of the passenger market whose purpose of journey is to fulfill a business engagement.

Butane
Hydrocarbon containing four carbon atoms, gaseous at normal temperature, but generally stored and transported under pressure as a liquid. Used for industrial purposes, some domestic heating and cooking, and as a constituent of motor spirit to improve volatility and as a chemical feedstock.

BUTEL
Bureau of Telecommunications (Philippines).

Buttress
A rigid above deck container securing system where containers are supported on frames which in turn are supported by buttresses at the end of the hatch covers. (ICHCA).

Bututs
The currency of Gambia. See also Appendix 'C'.

Buy back
A counter trade technique being in the form of a barter in which suppliers of capital, plant, or equipment agree to payment in the future from output of the investment concerned. For example, exporters of equipment for a chemical works may be paid with part of the resulting output from that chemical plant.

Buyer
The person/company/entity which purchases a product(s)/service(s).

Buyer credit
The process of providing finance direct to the buyer (or to a borrower e. g. a bank in his country) in the form of buyer credit. In so doing a loan agreement is negotiated between for example an acceptable bank in the United Kingdom and the overseas borrower under which finance is made available in connection with the supply contract between the UK sup, and the overseas buyer. Payment is normally made direct to the supplier by the lending bank against agreed documentation.

The responsibility for the payment of interest and the repayment of principal is that the borrower and the UK supplier is largely in the position of having a~ contract.

Buying House
An indirect trading technique whereby numerous large retail organization any country establish offices in other countries in order collectively C purchase from manufacturers in those territories. The extension of the system relates to the establishment of independent houses who buy C/behalf of well known foreign department stores. An ideal outlet' manufacturers of consumer products and often referred to as Indent House.

Buying rate of exchange
The price at which a Bank, or other specific organization/company prepared to buy any particular currency.

BV
Bureau Veritas - French Ship Classification Society.

BVM
Business Visitors Memorandum (BOTB).

BVP
British Volunteer Programme (ODA).

BWB
British Waterways Board.

BWS
Bureau of Water Supply (Philippines).

Bx
Box Containers

BBR: Is an acronym for Borrowing Base Report (or Reporting) which is a physical or electronic report that captures the balances forward and ending of the collateral that is lent upon [e.g. accounts receivable and inventory]. Borrowing Base Reports indicating the loan status may be due on a daily, weekly, or monthly basis.

BBC: (see BBR; an acronym for Borrowing Base Certificate, often provided by third-party services)

Bill and Hold: Merchandise billed to an account debtor but not shipped. The merchandise may be marked as property of the debtor and is held pending shipping instructions. Careful attention should be given to segregating these goods and identifying them in the BBR.

Blind Endorsement: Is the endorsement of checks collected by clients in favor of the lender by means of a number or symbol, so that the lender's name does not appear.

Blocked Account (also Cash Collateral Account): Is a collect-only account through a lender or its agent by which physical checks or wire transfers from borrowers’ customers is collected by original agreement.

Block Box: ACE takes control of postal boxes that are receiving point for physical collections of accounts receivable on behalf of a secured creditor.

Borrower's Fatigue: A strained lending relationship that occurs when the borrower tires of a lender, typically for refusing to modify its loan agreement to reflect the borrower's improved financial condition.

Borrowing Base Certificate: Borrowing Base Certificate (Report or Reporting) is a physical or electronic report that captures the balances forward and ending of the collateral that is lent upon [e.g. accounts receivable and inventory]. Borrowing Base Certificates indicate the loan status and may be due on a daily, weekly, or monthly basis.

Bulk Handling: Managing information obtained from reporting, accounting records, or aging prepared by client, but with no detail of account debtors.

CBS: Comprehensive Business Survey  is a ACE service that provides a highly concentrated examination of the qualitative aspects of subject business, as-well a quantitative overview in which the goal is to determine appropriate course of conduct by a creditor or other stakeholder.  Examples of use may include: alternative financing, collateral preservation, continuation of a business relationship, as a precedent to a forbearance agreement, modification of lending terms, new extensions of credit, restructuring, workout and pre-bankruptcy planning.  Often, the CBS precedes installation of any continuing service or further consulting by ACE.

c
Centre; or cage containers.

C
Compound expansion (marine) engines.

C/
Case packaging.

CA
Controlled atmosphere.

CAA
Civil Aviation Authority.

CAACE
Comite des Associations d' Armateurs des Communautes Europeans the Committee of Shipowners Associations of the European Community.

CAB
Civil Aeronautics Board of the USA; or Civil Aeronautics Board (Philippines).

CABAF
Currency and bunker adjustment factor.

Cabin
Accommodation provided on a vessel or aircraft for passenger or crew use.

Cabin Allocation
The process of allocating cabins on a ship e.g. thirty may be allocated to agents for their clients and the residue to direct bookings to the shipowner by the client/passenger.

Cabin Charges
The tariff applicable to cabins/berths on a particular vessel. It may be a one, two, three, or four berth cabin. The tariff may be based on the cabin complete or, individual berths within the cabin. Hence a two berth cabin tariff may be £10, or £6.00 per berth in a two berth cabin on an overnight voyage between two ports. The passenger fare would be extra. On a cruise, however, the cabin tariff and passenger fare are combined, and would also include meals to produce an overall cruise tariff of for example £900, for a seven day cruise in a two berth cabin. Cabin accommodation is also provided on an aircraft in seated conditions.

Cabin staff
Airline crew employees responsible for 'in flight' passenger welfare - this applies specially to the executive/first class passenger accommodation; or shipboard stewards responsible for passenger/crew cabins.

Cable
A measurement equal to about 100 fathoms or the tenth part of a nautical mile.

Cable rate
The cable rate arises when the 'forward rate' is lower than the 'Spot rate'.

Cabotage
The term emerges from cable transfer in dollar/sterling deals. An international trade banking term.

Cabotage
Air Freight traffic originating at a point in one country and destined another point within the territory of the same country; or the reservation law - in some countries - of the national coastal trade to national ships. This results in foreign operators being excluded from the coastal trade. It is practiced in Italy, Greece, Spain, Portugal and so on; or the process of leasing of containers to other operators to reposition them.

CAC
Customs Additional Code; or Central Arbitration Committee.

CACM
Central American Common Market.

CAD
Cash against documents; or Civil Aviation Department (Brunei).

CADD
Changi Airport Devt. Division.

C&D
Collection and delivery.

C & D Canal
Chesapeake & Delaware Canal.

CADY
Cash advance.

C&E
Customs & Excise.

CAF
Currency Adjustment Factor, a surcharge usually expressed as a percentage added or subtracted on freight.

CAF (French-cout, assurance, Fret)
Cargo delivery term: cost, insurance and freight.

C & F Cost and Freight (named Port of Shipment)
Under this cargo delivery term the seller (exporter) pays the cost ~ freight necessary to convey the goods to the specified port of destination Ca The buyer (importer) risk commences when the goods pass the ship's rail the port of shipment and bears all the risks from this point onwards buyer (importer) would bear all the cost and risk of insurance, unloading of cargo at destination port, customs import charges, import licence and so on. The seller (exporter) would bear the cost of packing; pay loading c~ CI obtain any export licence, pay Customs/Export dues; provide commercial invoice, Bill of Lading, Certificate of Origin, Consular Invoice and so~ C: The seller (exporter) may agree to bear all the unloading cost by adding~ word landed - 'C & F Landed'. The buyer's (importer's) risk commences on acceptance of the 'clean on board Bill of Lading'.

CAFF A-ICC
Commission on Asian and Far Eastern Affairs of the International Chamber of Commerce.

CAFOD
Catholic Fund for Overseas Development.

Cage-tainer
Container with sides and roof, or sides, roof and ends, consisting of grids, meshing and lattice (ICHCA).

C&I
Cost and insurance.

Calcutta conference
The first liner conference formed in 1875.

Call
The amount due to be paid to a company by the purchaser of nil-paid, or partly paid shares; the demand for payment if an installment is due; or trading period in which a price for each Baltic Freight futures month is established in sequence - a BIFFEX term.

Call account
A deposit account, usually interest bearing, from which funds may be withdrawn 'at call' (on notice being given).

Calling forward notice
Instructions for release or delivery of goods.

'Call' option
A situation in the options market which confers the right to buy the underlying share at a fixed price in three months time. See options Market.

Call sign
Assigned by the National Authority with which the ship is registered e.g. Lloyds Register of Shipping.

CALM
Catenary Anchor Leg Mooring.

Calor Gas
It is a liquefied flammable hydrocarbon gas or a mixture of any of the liquefiable petroleum gases. A term associated with the movement of dangerous classified cargo.

Cam and lever steering
Simple design of steering system in which a cam on the steering shaft moves against a peg or lever on the steering.

Camber
The rise or crown of a deck above a horizontal line connecting the ends of a beam.

Cameron Airlines
The Cameron’s international airline and member of IATA.

Camshaft
A shaft on a vessel carrying the cam(s) which operate valves.

Canada-United Kingdom Chamber of Commerce
The organization based in London representing Canada whose basic role is to develop, promote and facilitate international trade between UK and Canada and vice versa.

Canadian Dollar
The currency of Canada. See also Appendix 'C'.

Canadian dollar invoice
An invoice payable in Canadian dollars relative to an export sales contract.

Canal dues
Dues raised by the Canal Authority on vessels passing through the canal. It is usually based on the tonnage of the vessel.

Cancelcon
The code name of a BIMCO approved charter party clause relative to the canceling clause entitled 'Baltic Conference canceling clause 1970',

Canceling date
Charter party term giving chatterer option to cancel the contract in event of vessel not being ready to load by the specified date.

Canceling return
A return of premium paid because a hull policy has been cancelled before the specified expiry date.

Cancel
Canceling.

'C and U' regulations
Construction and Use regulations relative to road transport vehicles their construction and use.

Can hooks
Cargo handling equipment suitable for barrel transshipments.

CANISA
Compania Argentia de Navegacion Intercontinental S.A.C.I.F. (French- a shipowner.

CANR
Chamber of Agriculture and Natural Resources (Philippines).

Cantlings
Upright ribs at shipside to strengthen plates (ICHCA).

Canvas sling
Cargo equipment suitable for handling bagged cargo.

C.A.P.
Common Agricultural Policy of the European Economic Community.

Cap
A light gauge metal or plastic cover used to seal or protect the neck or opening of a receptacle.

Capacity
The ability of an insurance market to absorb risks.

Capacity planning
The process of correlating/evaluating available capacity to market demand and in so doing optimize capacity utilisation and its infrastructure. N example arises within transport whereby individual services are allocated particular streams of traffic such as twenty customers each having allocation of five per cent on one particular service. Additionally the transport operator can vary the service frequency/capacity availability to market variations. This can be realised by evaluating market forecasts am translating them into service provision. It also arises in a manufacturing plant and similar situations.

CAP charges
Those charges arising from the Common Agricultural Policy levies, variable charges, countervailing duties and monetary compensatory amounts.

Cape Verde Escudo
The currency of Cape Verde Islands. See also Appendix 'C'.

Cape Verde Escudo invoice
An invoice payable in Cape Verde escudo currency relative to an export sales contract.

CAP goods
Goods liable to agricultural levies and other import and export charges arising in a third country trade from Common Agricultural Policy.

Cap issue
The process whereby money from company's reserves is converted into issued capital which is then distributed to shareholders as new shares in proportion to their original holdings in a capitalisation issue which is often abbreviated to 'cap issue'. The correct term is 'capitalisation issue' but is sometimes called 'Free', 'Scrip', or 'Bonus' issues because no extra money is payable by the shareholder at the time.

Capital
The equity or shares (authorised and/or issued in a company/entity); or equity plus reserve plus profit retained plus loan and debenture stock in a company/entity.

Capital Budget
The process of formulating forecast and objectives relative to capital investment projects during a specified period for a particular area of the business activity or overall Company results.

Capital employed
The aggregation of capital employed in a particular situation/business usually related to the income and level of profitability.

Capital expenditure budget
A plan for capital expenditure in monetary terms.

Capital funding planning.
The process of selecting suitable funds to finance long term assets and working capital.

Capital International World Index
An index which is a rough measurement of the performance of the world's major stock markets in aggregate. It contains some 1,100 stocks listed each of which are weighted according to their market value on stock exchanges in US, Europe, Canada, Australia and Far East.

Capital investment appraisal
The process of evaluating proposed investment in specific field assets and the benefits to be obtained from their acquisition. The techniques used in the evaluation can be summarized as non-discounting methods (i.e. simple payback), return on capital employed, and discounted cash flow methods (i.e. yield, net present value, and discounted pay back).

Capitalisation issue
The process whereby money from a company's reserves is converted into issued capital which is then distributed to shareholders as new shares, in proportion to their original holdings. The correct term is capitalisation issue often abbreviated to 'Cap issue' but sometimes is called 'Free', 'Scrip' or 'Bonus' issues because no extra money is payable by the shareholder at the time.

Capitalization of Reserves
The process whereby money from a company's reserves is converted into issued capital, which is then distributed to shareholders as new shares, in proportion to their original holdings in a capitalization issue. Also known as Bonus, Free or Scrip issue.

Capital projects
Investment projects within a Company/Entity which features on the investment budget.

Capital risk
In the foreign exchange market the danger of not receiving payment from a counterpart in a bargain is known as the capital risk.

Capital surplus
The surplus distributed amongst shareholders in accordance with their rights under the articles of association after discharge of all outstanding costs and liabilities following the liquidation of a company.

Capital turnover
Turnover of the year. Average capital employed in a year. It measures number of times the capital is turned over in the year or alternatively turnover generated by each £1 of capital employed.

CAP levy
Common Agricultural Policy levy.

Capstan
Revolving device on a vertical axis on a vessel used for the heaving in of mooring lines or anchor cable.

Captain
Ship's officer.

Captain of Industry
A very outstanding person in industry involving a good track record of industrial success as an 'entrepreneur'.

Caption
Term used to signify 'heading' on letter/document etc.

Captive audience
An audience which for example is almost compelled to take notice of a particular audio visual presentation. See captive market.

Captive market
A market in which virtually no competition exists relative to the product offered such as in most countries where the Railway is State owned. In such a situation no competition exists on alternative railway services, but only substitute transport modes such as road and air.

Caravan
The provision of sleeping/eating accommodation totally self contained and reliant on a vehicle/car to tow it.

Caravanette
The provision of a motorized caravan. This involves the combined facility of sleeping/eating accommodation forming an integral part of the driving/motorized unit with integrated cab accommodation for the driver ~ passengers.

Carboy
A large narrow necked receptacle with a capacity usually of 10 to 60 litres made of glass, earthenware, porcelain, plastic or metal other than sill may be with or without protection.

Car carrier
Vessel built to convey cars or other vehicles.

CAR DI SYS
Carbon Dioxide system (ship machinery).

Career development
The process of developing Management resources within a Company. This usually involves staff appraisals and other techniques to facilitate a person progressing through a series of job appointments - may be at two yearly intervals in a Company. It is very much dependant on his/her job performance relative to the next promotional appointment.

Career vitae
A history/inventory of a person's career to date. It will include age, address, sex, education, and the salient details of career progression on a date order basis, but giving details of work experience. It is usual to mention qualifications and any particular attainments in work performance such as a research chemist who would mention details of new products developed for which he/she has been responsible or associated with. The career vitae is used primarily in job application and obviously the content will vary by job specification.

Cargo
Merchandise conveyed on a ship, aircraft or hovercraft, other than mail or other property, carried under the terms of an international postal convention or baggage.

Cargo accounting device
A document prepared and forwarded by the accounting department of an airline carrier to the accounting department of another carrier notifying of additional charges incurred en route for collection from the shipper or consignee or that charges were collected by the last air line carrier. An IATA definition.

Cargo aircraft
Any aircraft, other than a passenger aircraft, which is carrying goods or property.

Cargo assembly
An area earmarked for the reception of parcels or packages and holding them for later dispatch as one consignment.

Cargo claim
A demand by the purchaser of goods for monetary compensation because the goods delivered are damaged, short delivered or not of the specified quality.

Cargo claims procedure
The procedure adopted on the progressing of a cargo claim. This briefly involves the receiver notifying the agent of the damage/loss; submitting claim details to the agent/shipowner/P & I club; evaluation of the claim by the surveyor; progressing surveyor's report with interested parties with a view to a claims settlement.

Cargo clearance
The process of clearing cargo through customs which may be at a seaport, airport, or inland clearance depot.

Cargo configuration
The composition of the total cargo capacity on a particular transport unit For example a vessel may have a cargo configuration of 2050 TEU’s involving a cargo mix of 20 feet (6.lOm) and 40 feet (12.20m) containers break bulk and unitized cargo, cars, lorries, buses, earth moving and construction vehicles; and heavy machinery of all descriptions.

Cargo declaration
Document established in the convention on 'Facilitation of international Maritime Transport' to be the basic document on arrival and departure providing information required by public authorities relating to the cargo.

Cargo delivery term
The precise terms under which the cargo is delivered to the buyer (importer) under an export sales contract and usually expressed in one of the fourteen Inco terms 1980 terms devised by the International Chamber of Commerce such as, Ex Works, Cost Insurance Freight, and so on.

Cargo derrick
Boom on board ship used for loading and discharging cargo.

Cargo disassembly
The separation of one or more of the component parts of a consignment (from other parts of such consignment) for any purpose other than that of presenting such part or parts to customs authorities at the specific request of such authorities.

Cargo dues
Charges raised by port authority on cargo passing over the quay usually based on tonnage, or a specified unit method i.e. per vehicle.

Cargo handling charges
The charges raised on handling cargo which may be at a port, warehouse airport, depot etc and based on tonnage, commodity type, and method of distribution such as palletized, unitized, or containerized merchandise.

Cargo handling equipment
Equipment/facilities provided at a port or freight depot to handle cargo (such as cranes, pallet trucks, pallets, fork lift trucks, straddle carriers and so on).

Cargo IMP
Cargo Information Message Procedures. A facility provided by some IATA Airlines.

Cargo in isolation
The process of isolating cargo away from other merchandise/traffic for a variety of reasons but usually attributable to its being classified as dangerous. Cargo isolation is especially common at airports and seaports where a dangerous cargo compound is provided under strict surveillance.

Cargo insurance
The insurance of cargo in transit. It maybe on a vessel, aircraft, or combined transport operation.

Cargo Liners
Vessels engaged on regular services usually under liner conference conditions.

Cargo Manifest
Inventory of cargo shipped.

Cargo marking symbols
A label affixed to a consignment signifying it is dangerous classified cargo: 'use no hooks', 'this way up', etc. Such symbols are devised by IATA and IMO. See diagram IV page 576.

Cargo mix
The constituents of the cargo commodities conveyed in a particular transport unit. For example, it may be a ship conveying 20 TEUs, 40 cars, 200 tonnes break bulk and unitised cargo, and 15 earth moving and construction vehicles. See also commodity mix.

Cargo net
Cargo handling equipment suitable for mail bags, cartons, bagged cargo etc. transshipment, or alternative equipment to make the merchandise more secure on the vehicle, pallet etc.

Cargo (or mail) tonne kilometers used
A metric tonne of cargo carried one kilometer. Cargo tonne kilometers used equal the sum of products obtained by multiplying the number of tonnes of cargo on each stage of the flight, or other transport mode, by the stage distance.

Cargo plan
Plan depicting space in a ship occupied by cargo.

Cargo ship safety equipment construction certificate.
A survey document issued to UK registered vessels if less than 500 tons gross by the Department of Trade confirming al1 the relevant Merchant Shipping Acts have been observed.

Cargo 'shut out'
Cargo not carried on transport unit - which may be a ship, air freighter and so on - due to the non availability of space/capacity. See also 'shut out' entry.

Cargo stowage
The technique of stowing cargo in a ship's hold, ISO container, TIR vehicle, International Road haulage vehicle, aircraft hold etc.

Cargo Superintendent
A senior managerial position at a port, responsible to ensure all booked or manifested cargo - including break-bulk, containers, bulk cargo etc – is loaded or discharged in an efficient manner; to ascertain the condition of the cargo on receipt or outturn; to comply with the requirements of the Master in regard to ship stowage; and final1y to ensure that the stevedores responsibilities are satisfactorily discharged. The Cargo Superintendent may be employed by a shipping company, stevedores, or port authority.

Cargo surveyor
A person who examines/evaluates the condition of cargo primarily for insurance purposes - usually following an insurance cargo claim.

Cargo tag
A form of labeling, often seen on constructional steel, and applied or affixed to a package or packages at the point of manufacture of origin (ICHCA).

Cargo tonnage
It may be expressed in weight - usually based on the metric ton of 1000 kg - or measurement - based on the cubic metre being equivalent to one (metric) tonne. See also weight/measurement ships option entry; or vessels designed/built to convey cargo.

Cargo transfer
Cargo arriving at a point by one service such as rail, air, road, ship, a~ continuing there from by another service of the same or different transport mode.

Cargo transit
The movement of a consignment by a specified transport service.

Cargo tray
Cargo equipment suitable for handling cartons, bags, small wooden cases.

Car hire
The process of hiring a car for a specified period. It may be for a day, one week, one month, one year and so on.

Caribbean Common Market.
An economic trading bloc consisting of Antigua, Barbados, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Christopher, St. Lucia, ~ Vincent, Trinidad and Tobago.

CARICOM
Caribbean Community and Common Market (formerly CARIFTA), regional community whose principal objective is economic integration, introduced a single line tariff on 1 January, 1976, and at present has, members.

Car insurance
The provision of insurance coverage for a car. It may be comprehensive covering the motorist and vehicle, or merely limited to third party coverage.

Carnet
A customs document usually obtained for commercial samples, exhibition material, and similar goods with which temporary importation is allow~ without payment of duty.

Carnet de passage en douane
A document required by certain countries to accompany the vehicle to cover its temporary importation into the country.

Car pallet
Flat tray with corner post for transporting cars on container ships (ICHCA).

Car park
Accommodation provided for the parking of cars. It may be a one level (ground level) facility or a tiered basis providing various levels of car parking space. Usually a scale of charges exist relative to users and based~ the period the vehicle is parked in the accommodation.

Carr fwd.
Carriage forward.

Carriage
The conveyance of traffic by a specified transport service.

Carriage international
The conveyance of traffic in a circumstance/situation whereby the place of departure and the place of loading/arrival/destination are situated in morel than one State/Country. It may be passengers/cargo/parcels, etc.

Carriage of Goods by Road Act, 1965
The UK statutory provisions containing the International Convention concerning the Carriage of Goods by Road (CMR) which was introduced in October, 1967 and permits the carriage of goods by road under one consignment note under a common code of conditions applicable to 26 countries primarily in Europe.

Carriage of Goods by Sea Act, 1924
UK national legislation implementing Hague Rules setting out minimum conditions under which cargo shipped under a Bill of Lading. It is now succeeded by Carriage of Goods by Sea Act, 1971.

Carriage of Goods by Sea Act, 1971
UK national legislation which contains the Hague Rules as amended by the Brussels protocol 1968 embracing the Hague-Visby Rules, and outlines minimum conditions under which cargo shipped under outward Bill of Lading or similar document of title from a UK port.

Carrier
The operator who contracts to provide the transport service which may be by rail, road, ship, air, hovercraft or canal.

Carrier last
The participating carrier over whose air routes the last section of the carriage under the Air WaybiII or ticket is undertaken/performed. An IATA definition.

Carrier's lien
The right of the carrier to retain the cargo as a security for the collection of the freight and other charges.

Carr Pd.
Carriage paid.

Cars knocked down
Car kits partly assembled and usually crated (ICHCA).

Cartage
The collection or delivery of goods by road from a warehouse, goods depot, airport, seaport, etc.

Cartel
A market situation in which a number of companies producing/supplying a product or service agree on price and control supply.

Cartons
A popular form of packaging made of cardboard, strawboard, or fiberboard which is relatively inexpensive and ideal for a wide range of consumer goods shipped in containers, or as palletized cargo.

Cartouche
A non refillable receptacle, packed under pressure, having to be punctured for removal of its contents.

Car Transporter
A road haulage vehicle or railway wagon capable of conveying cars.

Cartridges
Generic term, applied to any explosive article designed to deliver combustion gases, under pressure, with a view to performing a given mechanical action, for example to propel a projectile. In particular, it applies to assembled ammunition consisting of a case fitted with a primer, filled with propellant powder with or without projectile. The term cartridge is used to indicate a unit charge of blasting explosive, wrapped in a thin paper, plastic or other envelope, the shape of which is ordinarily a cylinder. However cartridge blasting explosives are not considered as articles but as s~ stances. A term associated with the movement of dangerous classified cargo.

Carving note
Statement confirming that ships name, port of registry, official number registered tonnage and draft measurement is inscribed on the ship in the appropriate places.

CAS
Continuous survey cycle - automated controls; or currency adjustment

Case history
A record of a particular experience or specific item usually over a period\ time or throughout the life of the item. It may be a case history of a piece of equipment spanning seven years or a prototype product. The case testing would reveal the general performance of the item and its adequacy reliability/maintenance cost and so on; or a detailed record of a persons career progression including promotion, salary, discipline, COUN, attended, sickness details, within a particular company. It may be recorded on a card or computer file. Alternatively, it may be a medical record of patient at a doctor's surgery or a record of an item of machinery/equipment detailing periods of maintenance and by whom; any modification, dates any certificate of inspection was undertaken and so on.

Case Study
The study/evaluation of a particular set of circumstances relative to particular discipline. It may be a case study of a particular patient medical/social history and associated treatment; an investment programme for a fleet of vehicles; export contract award and the overall environment which led to the contract award embracing competition, product design, price, delivery terms, market research etc.

Cash flow
The total amount of monies received by a Company during a specified period.

Cash Loss
A payment made outside the normal accounting procedure for treaty reinsurance. An insurance definition.

Cash Management
The process of a Company or Group of Companies managing its cash inflow and/or cash outflow.

Cash on delivery
An arrangement between the shipper and carrier whereby the latter upon delivery of the consignment is to collect from the consignee the amount indicated on the Air Waybill as payable to the shipper. An IATI definition.

Cask
A barrel.

CASS
Cargo Accounts Settlement System (IATA).

Casting off
The process of a vessel departing from either her berth or mooring place and in so doing releasing the mooring ropes.

CAT
The Communications Authority of Thailand.

Catastrophe risk
A risk in which the potential loss is of exceptional magnitude e.g. nuclear power station.

Catchment area
The area which is receptive/responsive to the promotion of a particular product. For example the provision of a new newspaper launch which may be an evening, weekend or daily paper for a particular town, in which case the catchment area would be primarily that particular town.

Catering Officer
A ship's officer in charge of catering on a passenger vessel and usually responsible to the Purser.

Cathodic protection
An electrolytic system for the protection of a metal from corrosion by providing an electric current to neutralize the current naturally produced in the corrosion process.

Cattle container
Partly open container equipped with rails, boxes, and cribs for livestock transport.

Cattle float
A purpose built road vehicle designed for the conveyance of cattle.

Cauris
The currency of Republic of Guinea. See Appendix 'c' .

Cauris invoice
An invoice payable in Guinean Cauris relative to an export sales contract. Causa Proxima non remota spectatur (Latin). The proximate and not remote Cause (determines whether loss covered by marine insurance policy).

Causa sine qua non (Latin)
An indispensible cause or condition.

Caveat emptor (Latin)
Let the buyer beware.

CA VN.FMG
Campania Anonima Venezolana de Navegacion Plota Mercante Granco lombinana S.A. - a shipowner.

CAXB
Composite auxiliary boiler (of a ship).

CAXBS
Composite auxiliary boiler survey (of a ship).

Cayman Dollar
The currency of Cayman Islands. See Appendix 'C'.

Cayman dollar invoice
An invoice payable in Cayman dollars relative to an export sales contract.

CB
Container base; or Central Bank (Philippines).

cb
Collective bargaining.

cbd
Cash before delivery.

CHI
Confederation of British Industry.

CB&H
Continent between Bordeaux and Hamburg.

cbm
Cubic metre.

CBM
Conventional Buoy Mooring.

CBT
Clean ballast tanks (on a ship).

CBW
Crude oil washing (in tankers).

CC
Civil commotions; canvas covers; continuation clause; Coal Corporation (PNOC) (Philippines); cargo capacity (in cubic metres); or container control..

cc
Current cost; charges collect; cubic capacity; closed containers; or carbon copy.

(cc)
A Lloyds Register approved system of corrosion control installed in the tanks indicated.

ccc
Goods declaration (outwards) - document used for the Customs declaration of goods at exportation.

CCC
Customs Co-operation Council - studies questions of co-operation in customs matters to attain harmony and uniformity. Governments of 83 countries are members; or Chinese Chamber of Commerce (Brunei).

CCCN
Customs Co-operation Council nomenclature - the standard classification of goods for customs tariff purposes, now used by most countries.

CCI
Chambre de Commerce Internationale (International Chamber of Commerce) .

CCJ
The European Committee of Legal Co-operation. Consultative organ for legal co-operation under the Council of Europe, established in 1963. CCJ co-ordinates and watches the development of the legal programme of the Council of Europe.

CCITT
International Telegraph & Telephone Consultative Committee.

CCL
Customs clearance.

CCLINE
C.C. Line - a shipowner.

CCLN
Consignment Note Control Label Number.

CC/O
Certificate of consignment/origin.

CCR
Commodity Classification Rates.

CCS
Consolidate-cargo (container) service; or Customs Clearance Status. A code associated with an entry at DEPS.

CCT
Common customs tariff of the EEC, less accurately referred to as CET (common external tariff).

c/d
Carried down.

C.D.
Clutch drive, (on a ship); commercial dock; consular declaration; or customs declaration.

C.&D.
Collected and delivered.

CDC
Commonwealth Development Corporation.

CDCP
Construction and Development Corporation of the Philippines.

CDIS
Curriculum Devt. Institute of Singapore.

CDK
Carrying capacity in number and length(s) on deck.

CD's
Certificates of deposit - a marketable bank deposit.

CDSB
Cargo data standards board - IATA term.

CDV
Current domestic value. Information often required for customs/insurance purposes for a particular product.

CE
The Council of Europe, domiciled in Strasbourg, is a parliamentary forum for discussion by all West European nations. It was founded in 1949, and its present members are Austria, Belgium, Cyprus, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Turkey, and the United Kingdom. The council works for economical, social, cultural, legal, scientific, legislative and administrative cooperation of the member countries; Chief Executive - a senior Management position; or Customs & Excise - HM Government department.

CEA
Confederation Europeene de l' Agriculture. It is based in Switzerland and is an organisation for European agricultural co-operation.

CEAC
European civil aviation conference.

CEC
Clothing Export Council (UK).

CECA
Communaute Europeenne du Charbon et de l'Acier (French) (European Coal and Steel Community).

CECC
CENELEC Electronic Components Committee. European system to facilitate international trade by harmonization of specification and quality assessment procedures for electronic components, and by the granting of an internationally recognized mark and/or certificate of conformity. Founded 1970. Comprises national electro technical committees of 11 West European countries. About 20 active working groups.

CECLA
Special Committee on Latin American Co-ordination.

CECOP
Council of Engineering Consultants of the Philippines.

Cedant
One who cedes a reinsured risk.

Cede
To advise a reinsurer of risk written which is attached to the reinsurance contract.

CEDEL
A clearing system for Eurobonds based in Luxembourg, where Eurobonds are physically exchanged and stored.

Cedi
The currency of Republic of Ghana. See Appendix 'C'.

Cedi invoice
An invoice payable in the Ghanaian currency of cedis relative to an export sales contract.

CEE
International Commission for Conformity Certification of Electrical Equipment. Founded 1946. Comprises national electro technical committee of 23 European Countries, with Australia, Canada, Hong Kong, Iceland, In~ Japan, South Africa and the USA as observer members; 'CB' certification board for domestic electrical equipment, operating 'E' mark; or Communaute Econmique Europeenne (European Common Market) - see EEC

CEEA
Communaute Europeenne de l'Energie Atomique (French) (Europe; Atomic Energy Community).

Ceefax
Trademark of the teletext service of the British Broadcasting Corporation.

CEFIC
European Council of Chemical Industry Federations.

CEGB
Central Electricity Generating Board.

CEIF
Council of European Industrial Federations, Paris. Organ for co-operation of the European industrial federations.

Ceiling price
The maximum price of a particular product/service the market will support. For example it may be a container rate; fixture rate; or passenger fare.

Cell guides
The guidance system enabling containers to be carried in a vertical pile in the ship, each container supporting the one above it, the guides providing horizontal restraint. (ICHCA).

Cells
The guidance system enabling containers to be carried in a vertical pile in the ship; each container supporting the one above it; the guides providing horizontal restraint (ICHCA).

Cellular container ship
A container vessel so designed to have each hood fitted with a series of vertical angle guides adequately crossbraced to accept the container. This system obviates any lashing of the container.

Cellular vessel
See cellular container ship entry.

CELTICBULK
Celtic Bulk Carriers - a shipowner.

CEMA
Customs and Excise Management Act.

Cemenco
Code name of Chamber of Shipping approved charter party for cement trade.

Cement Wagon
A railway wagon designed to convey cement in bulk.

CEMT
Conference Europeenne des Ministres des Transports. (French) It is based in Paris and also deals with transport matters.

CEN
European Committee for Standardization. Founded 1961. Comprises national standards bodies of 16 EEC and EFTA countries, plus Spain. Prepares European Standards that are published without variation of text as national standards in the countries approving them. Each member has one vote. About 55 active technical committees.

CENE
Commission on Energy and the Environment.

CENELEC
European Committee for Electrotechnical Standardization. Electrotechnical counterpart of CEN. Founded 1973 from union of CENEL and CENELCOM. Comprises national electrotechnical committees of EEC and EFTA countries. Prepares European standards for identical publication nationally and also Harmonization Documents as the basis of technically equivalent standards. Weighted voting system. About 35 technical committees.

CENFRE
Sri Lanka Committee/Organization on Trade Procedures and Facilitation based in Colombo.

CENSA
Committee of European and Japanese National Shipowners' Association.

Centavoc
A currency used by a number of countries including Argentina, Bolivia, Brazil, Colombia, Cuba, Nicaragua and so on. See Appendix 'C'.

Centesimi
The currency of Italy. See Appendix 'C'.

Centesimos
The currency of Panama. See Appendix 'C'.

Centimes
A currency used by a number of countries including Reunion Islands Belgium, Spain and so on. See Appendix 'C'

Centimos
The currency of Costa Rica. See Appendix 'C' .

Central American common market
Set up in 1960, its members are Costa Rica, EI Salvador, Guatemala and Nicaragua; Honduras has temporarily withdrawn and Panama is not a member although represented on some of the subsidiary bodies of the organization. The aims of CACM are to broaden the members' internal markets, supplement their economies, co-ordinate their development plan and make changes in their productive structure until a complete economic union can be achieved which would eventually lead to a political union of the countries in a federation of Central American states.

Central Bank
A Bank usually under Government control/influence controlling/determining/influencing a countries Banking activities especially in the roll lending, deposits, interest rates, borrowing limitations etc.

Central Freight Booking Office
A situation/circumstance which exists in some countries whereby National Government legislation compels exporters to process their shipments consignments through one 'central freight booking office' for sea transport merchandise. This eliminates the competitive nature of the Freight forwarding business as usually all the tariffs are government controlled. Also called Central Freight Bureaux.

Central Freight Bureaux
Offices situated worldwide who are involved in the process of allocating cargoes to vessels either on the basis of individual instructions, 01, following general guidelines. Such offices tend to reserve cargo to specific trades and national flag tonnage. It also controls the level of sea freight rates.

Centrally planned economies
A number of countries such as those in Eastern Europe and some in ~ and Latin America have economies whose foreign trade is central managed according to annual and medium term plans. The State has a monopoly of foreign trade in all these countries and trade must conform the plans. Imports, exports and the use of foreign exchange are regulated accordingly. Firms wishing to export to these countries will have to d~ through foreign trade organizations. Trade can sometimes involve compensation agreements which link the goods a country wishes to import to export.

Central reservation office
An office whereby all the reservations for a particular Company activity are dealt with in one office. This may be for hotel bookings, train seat reservations, flight bookings and so on. Computers feature prominently in the modern central reservation system.

Central Reservation System
A reservation system such as hotel booking, flight, train, where all the bookings are undertaken in one central point. See central reservation office.

Centre girder
Continuous girder in a ship's double bottom that runs fore and aft on centre line.

Centre of gravity
The point at which a load will balance or is in equilibrium, through which it can be said the whole of the weights acts vertically downwards (ICHCA).

Centrocon
Code name of charter party for River Plate grain trade.

Cents
A currency used by a number of countries including Australia, Hong Kong, Singapore, South Africa and so on. See Appendix 'C'.

CEOC
Colloque Europeen des Organisations de Controle. Comprises leading independent technical inspection organisations in most European countries. Exchanges information and aims to harmonise practical standards for inspection of plant and machinery.

CEPAC
Confederation Europeenne de l'industrie des pates, papiers et cartons (European confederation of pulp, paper and board industries), 14 rue de Crayer, 1050 Brussels.

CEPT
Conference of European Postal and Telecommunication Administrations. Organ for co-ordination of and co-operation between the European post and telegraph administrations.

CERN
Conseil Europeen pour la Recherche Nucleaire (European Council for Nuclear Research), Geneva.

Cert
Certificate.

Certificate of analysis
A certificate issued by an independent surveyor of international repute which specifies that the samples used to determine quality of, or to analyze the cargo were taken from the cargo being loaded on board the vessel (stating the name of the vessel). Several such samples should be obtained during loading. After the analysis the certificate should be sent directly to the paying bank by the surveyor and not given to the shipper. These points should be made one of the conditions of the documentary credit. Also termed certificate of quality.

Certificate of competency (Deck Officer)
A certificate issued to deck officers who satisfy the requisite Standards of Competency as prescribed by the Department of Trade.

Certificate of competency (Marine Engineer Officer)
A certificate issued to Marine Engineer Officers who satisfy the requisite Standards of Competency as prescribed by the Department of Trade.

Certificate of Conditioning
A certificate issued by a competent office in which, on the basis of the ascertained humidity factor, the dry weight of wool or silk is reckoned~ certified.

Certificate of Deposit
An interest bearing negotiable bearer certificate which evidences a time deposit with the bank.

Certificate of Health
A certificate of health is normally required when agricultural/animal products are imported. The certificate is issued and signed by the health authority in the sellers’ supplier's country. It states that the health requirements were satisfied at the time of shipment.

Certificate of Inspection
A certificate issued by an overseas Chamber of Commerce or independent inspector stating that the goods were inspected/examined prior to dispatch and were in accordance with the specifications laid down in the sales contract. It includes details of the identifying marks, weight and number of packages; the result of the qualitative and analytical examination of a specified sample of the goods; the shipping details and the signature of the inspector and seals of the inspecting organization together with the date.

Certificate of Insurance
Document generally issued where goods which are the subject of a c.i.f. sale are insured by a floating policy covering other goods as well as the particular goods in question.

Certificate of Manufacture
A certificate of a producer that the goods have actually been produced and are available.

Certificate of Origin
Specific form identifying the goods, in which the authority empowered to issue it certifies expressly that the goods to which the certificate relates originates in a specific country. It thereby usually enables the importer to obtain concessionary import duties. The certificate may also include a declaration by the manufacturer, producer, supplier, exporter or of competent person.

A certificate of origin will normally give the following details: the n~ and address of the exporter; the name and address of the importer a description of the goods; the country of origin of the goods; the signature and seal or stamp of the certifying body.

Certificate of posting
A document issued by the Post Office confirming the packages specified thereon have been posted on the date and at the place indicated.

Certificate of pratique
Document verifying that every passenger/crew member on port arrival is free of any contagious disease.

Certificate of quality
A certificate issued by an independent surveyor of international repute which specifies that the samples used to determine quality of, or to analyse the cargo were taken from the cargo being loaded on board the vessel (stating the name of the vessel). Several such samples should be obtained during loading. After the analysis the certificate should be sent directly to the paying bank by the surveyor and not given to the shipper. These points should be made one of the conditions of the documentary credit. Also termed Certificate of analysis.

Certificate of registry
Document containing full details of ship including port of registry, name of vessel, particulars of ownership, and registration number.

Certificate of shipment
A certificate issued by a shipping agent to confirm consignment of goods has been shipped on a date recorded on a specified vessel/sailing from a particular port/dock/port.

Certificate of survey
Document detailing the GRT & NRT of the ship as assessed by the surveyor when vessel surveyed.

Certificate of weight
Document stating the weight of the goods mentioned thereon.

Certified cheque
A cheque the payment of which is guaranteed by the bank in which it is drawn.

Certified declaration of origin
Declaration of origin certified by an authority or body empowered to do so.

Certified invoice
A commercial invoice bearing a detailed statement of the value and origin of the merchandise described thereon and signed by the exporter. Some overseas countries require commercial invoices to be legalised by the buying nation's consulate in the exporter's/seller's country before the goods' can enter the importer's/buyer's country.

CES
Committee of European Shipowners.

CESI
Centre for Economic and Social Information (UN).

Ceskoslovenske Aero Line
The National Airline of Czechoslovakia and member of IATA.

Cesser clause
Charter party clause granting shipowner lien which he would not otherwise possess on the cargo.

Cestui que trust (plural: Cestuis que trustent) (Latin)
The person for whom the trust funds are held i.e. the beneficiary.

CET
Common External tariff; or Central European Time.

CEYLON
Ceylon Shipping Corpn. - a shipowner.

cf
Cubic feet; carried forward; or corrugated furnaces.

c/f
Carried forward.

c&f
Cost and freight.

C & F (Named port of shipment)
A cargo delivery term under which the seller (exporter) pays the cost and freight necessary to convey the goods from the port of shipment to the port of destination. The buyer (importer) will be responsible for any damage or loss to the goods when the goods pass the ship's rail at the port of shipment. The seller bears the cost of freight from his factory to the port of shipment sea freight from the port of shipment to the port of destination including cost of packing, and loading in port of departure; packing. The buyer (importer) bears the cost of preparing the certificate of origin, consulate documents and any other documents that may be needed to clear his goods in the port of arrival; and unloading cost.

CFB
Central Freight Bureaux.

CFEL
Continental Far East Lines - a shipowner.

cfo
Channel for orders; or coast for orders.

CFR
Cost and freight - cargo delivery term.

CFTB
Cylindrical Fire Tube Boiler (of a ship).

CFTBS
Cylindrical fire tube boiler survey (of a ship).

CFS
Container (ISO) Freight Station.

CG
Clearance Group. A group of A VRs and associated manifest items (usually only one); or coast guard.

CGA
Cargoes proportion of general average.

CGFPI
Consultative Group on Food Production and Investment in Developing. Countries (UN/IBRD).

CGLAR
Consultative Group on International Agricultural Research.

CGPM
General Conference of Weights and measures. Membership drawn from those 41 nations who are signatories to the Metre Convention. The Conference meets at approximately four-year intervals. Responsible for implementing decisions of the CGPM and preparing for each conference is the International Committee of Weights and Measures (CIPM). International Bureau of Weights and Measures (BIPM), a metrological laboratory under the responsibility of the CIPM, can arrange for the measurement standards of any country to be compared with internationally agreed standards.

C-GULF
Central Gulf Line - a shipowner.

CH
Carriers haulage.

CH&H
Continent between Havre and Hamburg.

Chain Lashing
Lashing constructed out of chain. (ICHCA).

Chain Sling
Cargo handling equipment used for heavy lifts particularly.

Chain tensioner
A type of tensioner designed for use with no chain. (ICHCA).

Chairman
Person in overall charge of a Company. The precise responsibilities will vary by Company size and nature of the business, but usually responsible for overall policy in consultation with a Board of Directors of which he is the Chairman. In the USA, the position is called President. It usually involves the overall policy of the Company.

Chamber of Commerce
An organization representing industry businesses/commerce in the area served whose two main functions are (i) to protect the domestic trade interests of commerce and industry in the area and (ii) to develop the international trade of all British Companies. A large Chamber of Commerce as found in most UK major industrial cities would have a number of departments within its organization including International, Export Services, Home Affairs, Economic, Press Administration, Membership, Finance and Trade Sections. Its basic theme is to develop wealth within the area served through its members and represent them at all levels.

Chamber of Shipping of the United Kingdom
British shipowners trade association redesignated General Council of British Shipping from 1.3.75.

Channel money
Partial payment of seaman's outstanding wages in ship 'payoff' arrival at U.K. port.

Channel Tunnel
Proposed tunnel or fixed link between Dover/Calais.

Charcoal
A product made by the destructive distillation of wood in iron retorts or ovens. The valuable volatile products, principally wood alcohol, and acetic acid, are also recovered in this process. This charcoal, unless properly cooled, aired and packed, is liable to spontaneous ignition in transit. A term associated with the movement of dangerous classified goods.

Charge
An amount to be paid for carriage of goods or excess baggage based on the applicable rate for such carriage, or an amount to be paid for a special or incidental service in connection with the carriage of a passenger, baggage, or goods. An IATA definition.

Charge card
A card bearing the holder's name and registration number permitting accounts to be settled at specified retail outlets on presentation of the~ This includes hotels, travel tickets, car hire, restaurants etc. The aggregated accounts each month must be settled monthly and no credit facilities are permitted. It is used primarily by business personnel. Examples of a charge card include Diners Club International, and American Express. See credit card entry.

Charge excess baggage
A charge for the carriage of excess baggage.

Charge local
A charge which applies for carriage over the lines of a single carrier.

Charge published
A charge the amount of which is specifically set forth in the carrier's fares or rates tariff.

Charges collect
Charges which are entered for example on the air waybill for collection from the consignee.

Charges Prepaid
Under such consignment forwarding terms, the Shipper is responsible for payment of the charges specified prior to or at the time of shipment by air, sea or international combined transport.

Charta partita (Latin)
Document in duplicate.

Charter Broker
A shipbroker who fixes the whole ship or a whole series of ships for one shipowner with one charterer for the carriage of a specific quantity in full ship loads.

Charter contract
An agreement/contract for a period of time or voyage/flight whereby the shipowner or airline places the entire vessel or aircraft capacity all C disposal of the merchant or other person (known as the charterer) for the conveyance of goods between specified sea or airports for an agreed negotiable rate. It can also apply to a road haulage international transit.,

Charterer
Person who hires a vessel/aircraft either on voyage, flight, or time basis.

Charterers account
A chartering term which indicates that all charges/overtime to be described/identified in the charter party, are to be paid by the charterer.

Chartering
Process of hiring vessel/aircraft under charter party terms for a voyage/flight or period of time.

Chartering Agent
Person who acts for the merchant seeking a vessel to carry his goods.

Charter Party
A contract whereby a shipowner agrees to place his ship or part of it at the disposal of a merchant or other person (known as a charterer) for the carriage of goods from one port to another on being paid freight or to let him ship for a specified period, his remuneration being known as hire money.

Charter Party frauds
The process of frauds arising from a charter party which can be minimized by checking on the credit worthiness and reputation of the charterer.

Charter party freight
Negotiated prior to shipment at an agreed rate (e.g. per tonne carried).

CHC
Cargo handling charges.

Checker
A member usually of a stevedoring gang at a port involved in the loading/discharging of cargo to/from the ship and quayside/berth/lighterage. The checkers job is to record details of the cargo including marks and numbers of each package to ensure the data agrees with the cargo information on the Ship Manifest/Bill of Lading/consignment note etc. Additionally the checker must record and draw attention to any merchandise the condition of which is unusual such as damaged, inadequately packed, packages missing, stained packages and so on. In a modem port with modem cargo technology the checker would operate under a Dock foreman/supervisor. A checker performs a similar role at an airport.

Check list
A list of points etc to be observed when processing a particular situation. It is usually devised on a cost efficiency basis with a view to completing the task in the most proficient/professional way practicable.

Check point
In transport terms, a place where a vehicle is 'checked in' relative to details of the vehicle, its contents and so on. It may be at the factory gates, or a car ferry terminal involving examination of the tickets, reservation details and soon.

CHEI
Commission for Heavy Engineering Industries.

Chemical carrier
Vessel specially designed to carry chemicals; many of such products are highly corrosive, poisonous and volatile.

Chemical tanker
A purpose built transport unit capable of conveying chemicals in bulk. It may be a ship, road vehicle, railway wagon, or container.

CHENGSOON
Cheng Soon Co. - a shipowner.

Cheque
A bill of exchange drawn on a banker payable on demand. (Bill of Exchange Act 1882).

Cheque Book journalism
A form of journalism whereby 'informants' are persuaded to give information on payment of a significant sum of money relative to a particular cogent press story/information.

CHESS
Chess Line Pte. Ltd. - a shipowner.

Cb Fwd'
Charges forward.

Chief Engineer
Officer in charge of ship's machinery and related equipment.

Chief Executive
A most senior Managerial position within a Company. It is usually the Management level below the Directorate and tends to be involved in the 'Day to Day' running of the business. A post usually found in the larger organization both in the Public and Private sectors.

Chief Mate
Officer in charge of the ship's deck department.

Chief Officer
Officer in charge of the ship's deck department.

Chief Petty Officer (Deck)
A post in the Deck department on a ship.

Chief Petty Officer (Motorman)
A post in the Marine Engineer's department on a ship.

Chief Steward
Person responsible to Catering Officer in a ship for catering.

Chief Traffic Controller
A person responsible for the Traffic Control operations of a particular transport mode. See Traffic Control entry.

Chile Airline
The Chilean National Airline and member of IATA.

Chime
The protecting edge rim or brim at the ends of a drum or of a barrel; or the depth of the end stamping of a drum.

China Corporation Register (Taiwan)
Chinese Ship Classification Society.

Chipboard
Low grade fibreboard made mainly from waste paper, or reconstituted wood.

Chisel Forks
Extremely thin wide forks on a fork lift truck used for sliding beneath loads which are not on pallets - often termed blades (ICHCA).

CHo
Carrying capacity in number and length(s) in holds (of a ship).

Choke hitch
A method of slinging in which the chain forms a sliding noose around the load (ICHCA).

Chon
The currency of Democratic People's Republic of Korea. See Appendix ‘C’

Chose in action
A thing capable of recovery only in legal proceedings.

CHOYANG
Cho Yang Line - a shipowner.

CHS
Continuous survey cycle hull (of a ship).

CHUNG LIEN
Chung Lien Navigation Co. Ltd. - a shipowner.

CI
Consular Invoice; or Chief Inspector.

c/i
Certificate of insurance.

c&i
Cost and insurance - Cargo delivery term whereby the seller (exporter) pays the cost and insurance whilst the importer (buyer) funds the freight necessary to bring the goods to the named destination.

cia
Cash in advance.

CIA
Cement Industry Authority (Philippines); or Chemical Industries Association.

CIAT
International Centre of Tropical Agriculture (IARI).

CIB
Conseil International de Ble (French) - (International Wheat Council based in London).

CIC
Committee for Industrial Co-operation (EEC/ACP); Capital Issues Committee (Malaysia); or Ceramic Industries Corporation (Burma).

CICR
Co mite International de la Croix - Rouge (French) (International Red Cross Committee based in Geneva).

CICT
Commission on International Commodity Trade, United Nations, New York. A commission established by ECOSOC with the object of investigating international raw material problems.

CID
Centre for Industrial Development (EEC/ACP).

CIE
Captains Imperfect entry (Customs); or Committee on Invisible Exports.

CIEM
Conseil International pour l'Exploration de la Mer. An International Council for the exploration of the sea, based in Denmark.

CIF
Cost, insurance and freight - cargo delivery term. - Incoterms 1980.

CIF&C
Cost Insurance Freight and Commission - cargo delivery term.

CIFC & E
Cost, insurance, freight, commission and exchange - cargo delivery term.

CIF Contract
Contract for the sale of goods for overseas shipment under CIF terms. - Cargo delivery term.

CIFC & I
Cost, insurance, freight, commission and interest - cargo delivery term.

CIFC & I
Cost, insurance, freight and interest - cargo delivery term.

CIFI & E
Cost, insurance, freight interest and exchange - cargo delivery term.

CIF Landed
Cost, insurance, freight - cargo delivery term identical to CIF except the cost of unloading including lighterage and wharfage are borne by the seller at the destination port and not by the importer (buyer).

CIFL T
Cost, insurance and freight London terms - cargo delivery term.

CIFW
Cost, insurance and freight/war - cargo delivery term.

CIHBB
Cast iron hub non-ferrous blades propeller (of a ship).

CIHSB
Cast iron hub steel blades propeller (of a ship).

CIM
Convention Internationale Concernant Ie Transport des Marchandises, Chemin de Fer. The international convention for conveyance of goods by rail operative in Europe covering the conditions and performance of the contract of carriage (the CIM consignment note), the carriers liability carriage of dangerous goods and so on. It's operative in 17 countries most of which are in Europe.

CIO
Chief Immigration Officer; or Chief Information Officer.

CIP
Freight or Carriage and Insurance paid to (named point) - cargo deli~ term. This is the container equivalent of cost insurance and freight; Cargo Investigation Panel (IATA).

CIR
Cage Inventory Record. The Dover computer record of a consignment of goods off-loaded to a security cage.

circa (Latin)
About (usually with dates).

CIRM
International Radio-Maritime Committee.

Circuit working
A transport term involving the exclusive disciplined operation of specified transport units between two points. This may be for example some fifty railway wagons carrying iron ore operating only between port A and steel plant B.

Civil law
Legislation involving claims or damages by one individual against another for compensation. Also referred to as Private Law.

CK
Cask.

CKD
Completely knocked down - consignments which are assembled at destination as distinct from being transported as complete unit; or' knocked down.

CL
Corporation of Lloyds; or continuous liner.

c/l
Craft loss.

Cladding
Coating of one metal with another.

Claim
The process of lodging/presenting a claim with a view to obtaining some measure of financial compensation; or a request by the policy holder or his representative for payment under the policy. An insurance definition.

Claims department
A department dealing with clients' claims. It may be an insurance company honoring claims submitted within the terms of the policy; a transport operator such as an airline, shipowner, railway company processing claims payment on goods damaged, missing in transit; and so on.

Claims inspector
A post which is responsible for the examination/inspection of merchandise etc on which a claim has been made. The claims inspector would submit a report on the result of his evaluation which would be progressed by the Insurance Company/Underwriter progressing the claim.

Claims Manager
A managerial position in a Company/entity such as Shipowner, Freight Forwarder, Receiver/Agent responsible for settling claims submitted and contributing to the overall policy on claims matters in consultation with the Directorate. This includes claims prevention; maybe premium levels; liaison with Insurance Companies/Underwriters and so on.

Claims prevention
The process of devising a policy/circumstances/code of practice which will lessen the incidence of claims. This involves conducting transit test to determine damage etc and institute remedial measures; improve documentation to specify circumstances giving rise to claims; quality control of product; analysis of packaging; improved security to counter pilferage; develop staff training; code of reporting procedure for claims and so on.

Claims procedure
See cargo claims procedure entry.

Clamping force
The horizontal compressive component of the forces produced when lifting by means of a multi-leg sling. Also the force resulting from the use of fork lift clamps and similar equipment (ICHCA).

Classification
A listing of commodities/articles into classes for freight rate purposes.

Classification certificate
A document issued by a Ship Classification and Survey Society indicating when the vessel was last surveyed.

Classification society
An organisation which surveys and classifies ships such as Lloyds Register of Shipping1md Bureau Veritas.

Claused Bill of Lading
Bill of Lading which has been endorsed by the shipowner as the goods described thereon do not conform to what is offered for shipment e.g. package missing, damaged, stained, inadequately packed.

Claw
A hook especially designed to hold chain, often used in cargo securing i.e. on chain tensioners (ICHCA). CL

CLC
Civil Liability Convention.

CLCLD
Cycloidal propeller.

Cld
Cleared.

Clean Bill of Lading
A Bill of Lading which has no superimposed clause(s) expressly declaring defective condition of the packaging or goods.

Clean B/L
Clean bill of lading.

Clean payments
The process of effecting money transfers internationally in a specified currency for payment of the goods and in so doing unconditionally to the payee (except possibly against a simple receipt). The importer must therefore, rely on the supplier to ship the goods and dispatch the relative documents to him.

Clean report of findings
A report issued by Ace Global or similar organization confirming all relevant documents found to be in order. Accordingly the clean report of findings document is presented to the bank in order to effect/facilitate payment of the goods. It is only issued after Ace Global is satisfied regarding quantity, quality or a price of goods shipped.

Clearance
Process of clearing cargo/ship/aircraft vehicle/container through Customs House Procedures.

Clearance Agent
One who represents a 'principal' and in so doing undertakes all the requisite documentation work and associated items to process a consignment through Customs thereby enabling the goods to be released and continue on their transit. The Clearance Agents may be situated at a seaport, ICD, or airport. Most clearance agencies specialise in imported cargoes, but some do both export and import goods.

Clearance of cargo goods
The process of clearing cargo through customs which may be at a seaport, airport, or inland clearance depot.

Clearance of ships
The process of a ship being 'cleared inwards' and in so doing enable the vessel to accept cargo for the outward sailing.

Clearance outward of a vessel
The process of obtaining customs clearance of a vessel and her cargo/passengers prior to departure from the port on an international voyage"

Clear day or Clear days
The day on which the notice is given and the day on which the notice expires are not included in the notice period relative to a charter party.

Cleared without examination
A customs term indicating the goods have been cleared by Customs without examination/inspection.

CLECAT
The European Communities Freight Forwarders Association.

Clearing Agent
An Agent specializing in the clearance of imported goods through customs on behalf of his Principal at a seaport, airport, or inland clearance depot.

Clearing House
An accounting settlement centre where all participants submit their debits or credits for settlement as prescribed within the group of Companies within; or the Agency responsible for contract fulfillment and financial settlement between the Members relative to BIFFEX.

Client led marketing policy
See consumer led marketing policy entry.

Clip-on units
Portable refrigeration units designed to clip onto insulated containers which normally rely on a central refrigeration system for their cold air supply (ICHCA).

Close
The final published official price of the day. A BIFFEX term.

Closed box container
A container that can only be packed through one or more doors in the end or side walls. (ICHCA).

Closed container
A container which totally encloses the contents by permanent structures.

Closed height
The height of the mast of a fork lift truck when the forks are completely lowered.

Closed out
A futures purchase within the Freight market that has been matched by a corresponding sale or vice versa - a BIFFEX term.

Closed position
This arises where the dealer's assets and liabilities in any currency do not balance, thereby resulting in an open position. If the dealer then makes a deal to cover that balance, other than by buying or selling, the position is closed.

Closed shop
A situation in a particular Company/Entity whereby all employees must be members of a Trade Union which mayor may not be specified by the employer.

Closed type transport units
Transport units in which dangerous goods are totally enclosed by sufficiently strong boundaries such as a closed container or vehicle, a demountable or portable tent. Fabric sides or top of a unit are not considered suitable to bring an otherwise open top within this definition relative to maritime dangerous cargo conveyance.

Closed vehicle deck
A deck or part of a deck without the free access of air so that additional ventilation is required.

Closing date
Latest date cargo accepted for shipment by (liner) shipowner for specified sailing.

Cloverleaf deck fitting
A type of deck fitting capable of accepting a lash from any direction (ICHCA).

Cloverleaf 'D' ring
A 'D' ring designed to accept two lashings (ICHCA).

Club
In marine insurance terms the Protection & Indemnity Association or P & I Clubs. In Export terms the Export Club whose membership is di1, from all those involved in International Trade viz, Freight Forwarders Exporters, Banks, Insurance Companies etc.

Clutch hook
A hook especially designed to hold chain, often used in cargo securing on chain tensioners (ICHCA).

cm
Centimeters.

CM
Condition Monitoring - ship maintenance technique.

CMCR
Cie Maritime Des Chargeurs Reum's - a shipowner.

CMAE (COMECON)
Council for Mutual Economic Aid based in Moscow.

CMI
Comite Maritime International. An International committee of man, lawyers based in Antwerp.

CMN
Convention on the contract for the Carriage of Goods by Inland Waterway.

CMP
Chamber of Mines of the Philippines.

CMR
Convention Marchandises Routiers. Convention agreed in Geneva in II by the Economic Commission for Europe (Transport Division) in! contract for the International Carriage of Goods by Road.

CMS
Continuous survey cycle machinery (of a ship).

C/N
Consignment note; cover note; or credit note.

CNAN
CNAN (Algerian National Line) - a shipowner.

CNCO
China Navigation Co. - a shipowner.

cnee
Consignee.

cnmt/consgt
Consignment.

CNT
Containers.

CNUCED
Conference des Nations Unies sur Ie Commerce et Ie Development (French). The United Nations Conference on Trade and Development based in Geneva.

Coal berth
A purpose built/designed berth situated at a seaport which accommodates/ handles bulk shipments of coal. A modern coal berth would be fully mechanised/automated. It is usually loaded by a conveyor system and discharged by a grab up to a lifting capacity of 85 tons.

Coal carrier
Vessel built to convey coal.

Coalice'1954'
The code name of a BIMCO approved charter party clause relative to 'ice' and entitled 'Baltic Conference Ice Clause for Coal and Coke cargoes 1954'.

Coal propulsion
Vessel built with the propulsion unit coal fired.

Coaming
The supporting structure of a hatch cover.

Coaming bridge fitting
A bridge fitting designed for the connection of containers to the coaming (ICHCA).

Coaming chock
A bridge fitting designed for the connection of containers to the coaming.

COASTCON
Code name of Chamber of Shipping approved charter party for coal trade.

Coastduty
The code name of a BIMCO approved charter party clause relative to customs duty in the coastwise trade and entitled 'Baltic Conference clause in respect of Customs duty in Coastwise trade 1962'.

Coaster
All purpose coastal cargo carrier.

Coasthire
Code name of Chamber of Shipping approved time charter party in the coasting and short sea trades.

Coasting broker
A ship broker concerned with chartering vessels found in coastal voyages usually primarily conveying bulk cargoes.

Coating Solutions
Materials such as automobile undercoating, drums or barrel lining materials, etc. which cannot properly be described as cements, but present similar hazards in transportation. They usually contain flammable solvents. A term associated with the movement of dangerous classified cargo.

COBRA
Continent and British Container Consortium; or Continent Britain and Asia.

C/OC
Certificate of origin and consignment

COCOON
A raised hatch cover on which containers are stacked (ICHCA).

COD
Cash on delivery; or country of destination.

Code Box
An area within a data field designated for a coded data entry and found in export/import documentation processing.

Coded data entry
Data entry expressed in code.

Code of conduct on ships
A code of conduct for observance by seamen on vessels, breach of which would involve disciplinary action through an agreed procedure as found in the Merchant Shipping Act, 1979.

Code of Practice
A framework devised within which to operate such as the procedure to follow in the event of a claim being received by the Shipowner for passenger injury, or technique of handling at a port a particular cargo which is classified as dangerous. Alternatively it may be termed as code of procedure. '

Code of procedure
A framework devised within which to operate such as the procedure to follow in the event of a claim being received by the shipowner for a passenger injury, or technique of handling at a port a particular cargo which is classified as dangerous. Alternatively, it may be termed a code of practice.

Code - UN
A code devised by the United Nations 'identifying commodities with a number which is inserted in the consignment document.

Cofferdam
Narrow space between bulkheads or floors to prevent leakage between adjoining compartments on a ship.

COGSA
Carriage of Goods by Sea Act.

COI
Central Office of Information.

COIE
Committee on Invisible Exports (UK).

Co-Insurance
Where two or more persons share a single risk. A co-insurer is not obliged to follow the decision of another co-insurer, except where he has given authority for the other person to act on his behalf. Each co-insurance is a separate contract with the assured.

COL
Column.

Col
Collision.

Cold storage
The storage of merchandise under refrigerated conditions.

Cold store
Shore based accommodation usually found at a port accommodating refrigerated cargo. It is usually computer controlled and houses perishable foodstuffs including bananas, meat, vegetables, citrus fruit and so on.

Cold store terminal
Purpose built/designed accommodation at a terminal such as a seaport, road depot etc which handles/stores foodstuffs under a controlled temperature situation. A modern one would be computer controlled under refrigerated conditions.

Coll
Collision.

Collapsible container
A container with the main parts hinged or removable so that its effective volume may be reduced for transportation in an empty condition (ICHCA).

Collection
Obtaining the proceeds of a foreign currency item for a customer, prior to giving credit. An International Banking term.

Collection and Delivery
The process of conveying the merchandise from/to the customers premises and to/from the Container Freight Station or other specified distribution point.

Collection charges
Those charges raised by the carrier to collect the goods/merchandise/consignment from the consignee.

Collection on wheels
The collection of goods by road from the consignor premises involving consignment(s) up to 3,000 kilogram’s in weight or up to nine cubic metres in volumetric measurement. Such a consignment is usually dispatched under LCL/consolidation/group age arrangement.

Collective bargaining
An industrial relations term whereby both unions, representing the work force, and management, negotiate on issue of pay without any constraints being imposed on either party especially by Government.

Collector
H.M. Customs Officer.

Collector’s office
Customs accommodation where declaration(s) (entries) are scrutinized and amounts payable collected.

Collier
Coastal coal carrier.

Colliery guarantee terms
A chartering term indicating the ship is to be loaded in accordance with the terms of the colliery guarantee. This is a contract between the colliery and the charterer - occasionally between the colliery and the shipowner describing applicable lay time, excepted periods, holidays and demurrage.

Colliery Working Days
A lay time term describing days on which a colliery normally works.

Collision
In maritime terms a situation of two ships coming into contact so that damage is suffered to a greater or lesser extent by both of them. It also covers contact between a ship and many and varied objects such as wrecks, piers, dock walls, breakwaters, etc., with anchors of other vessels, or with fishing nets attached to other vessels; or in marine insurance terms the physical impact between two or more ships or vessels used for navigation. The term does not include contact of the insured vessel with anything~ than a ship or vessel.

Collision bulkhead
Foremost transverse watertight bulkhead which extends to the freeboard deck in a vessel.

Collision Clause
A clause in a hull policy, extending cover to embrace collision liability incurred by the assured (see also, 'Running down Clause').

Colon
The currency of EI Salvador. See Appendix 'C'.

Colon invoice
An invoice payable in the currency of EI Salvador colons relative to an export sales contract.

Coltainer
Collapsible container.

Column inches
The amount of space taken up by an article in a particular newspaper, journal and so on. For example, an article on a new shipping service may attract six column inches.

Co-manager
The manager of an issue may invite other financial institutions to join the management team as co-managers. An International Banking Term.

COMB
Combination.

Comb
Combined (holds).

Combi Carrier
An 'all purpose' general cargo vessel engaged in deep sea liner traders capable of conveying containers, loose cargo, indivisible loads, vehicular traffic, and equipped with vehicular decks, container accommodation, derricks of 36 tonnes and 126 tonnes lifting capacity, and ramps for vehicular traffic transshipment both at the stern and amidships. Jumbo capacity lifts are provided in the vessel to move cargo between decks. The vessel thus is equipped with roll on/roll off, lift on/lift off and side cargo transshipment facilities. Sometimes it is called an Omni carrier. See diagram XIV page 586.

Combiconbill
Code name of approved BIMCO Bill of Lading used for com~ transport.

Combidoc
Code name of BIMCO approved combined transport document.

Combi King 45
A flexible modern single deck container/bulk carrier ship with an overall length of 194.30m, breadth of 32.20m, draught of 12.20m, deadweight tonnage of 45,500 tonnes and speed of 14.0 knots. The vessel has a cargo hold grain capacity of 58,700m3 or container capacity of 2127 TEU's. Cargo handling equipment embraces electro hydraulic deck cranes of one single 25 tonnes, and two twin 25 tonnes - all equipped with grabs. The vessel is suitable for bulk shipments of grain, coal, ore, bauxite, and phosphates. She can also convey containers, packaged timber, and standard pipe lengths. The vessel is built by British Shipbuilders.

Combination carrier
The provision of a transport service forming part of an overall through transport service involving a combination of transport modes. Under such circumstances the goods are conveyed in a transport unit throughout and thereby usually provide a door to door service. Examples include the road haulage unit involving a road/seal road transit; a container being conveyed on rail/sea/road service, or palletized cargo being conveyed on road/air/road carriers.

Combination charge
An amount which is obtained by combining two or more charges relative to a consignment such as the normal tariff and currency/fuel surcharge.

Combination of charges
The amount which is obtained by combining two or more charges relative to a consignment/goods/merchandise involved in a particular transit. It may be the tariff charge of carriers 'A' and 'B' plus handling charges for a consignment of machinery.

Combination rate
A rate which is obtained by combining two or more rates or charges and which is not published as a separate rate.

Combined cycle power station (Gasteam)
A combined cycle power station consists of interconnected gas and steam turbines. The hot exhaust gases from the gas turbine(s) raise steam in an exhaust gas boiler which is used to drive the steam turbine(s).

Combined tickets
The provision of a ticket which involves more than one transport mode or related facility. Examples include the rail and bus/coach ticket which may be for a rail/coach combined tour; the package holiday involving flight and hotel accommodation tickets; or the road/ship ticket embracing the rail and ship journeys. Each element would be separately ticketed, usually so that the rail, coach, ship or hotel has a ticket to confirm the passenger traveled etc. Sometimes parts of the combined tickets are called coupons.

Combined Transport Bill of Lading
A document issued by a Combined Transport Operator (CTO) for the carriage of goods by at least two modes of transport service such as road/ sea/road.

Combined Transport Document
The Combined Transport Document's Bill of Lading.

Combined transport document (ICC)
Negotiable or non-negotiable document evidencing a contract for the performance and/or procurement of performance of combined transport of goods and bearing on its face either the heading 'Negotiable combined transport document' issued subject to Uniform rules for a Combined Transport Document (ICC Brochure No 298) or the heading 'Non negotiable Combined Transport Document' issued subject to Uniform Rules for a combined Transport document (ICC Brochure No 298).

Combined Transport Operation
A multi-modal transport service involving the use of more than one mode of transport on a particular journey offered by a single operator acting as principal for the entire journey. It is thus a through transport service from door to door or warehouse to warehouse; it is orientated to the needs of the user in that it caters for the entire consignment journey required, in contrast to a traditional single-mode/transport service covering only the leg of the journey performed by one mode.

Combined Transport Operator
A through transport operator involving a multi modal transport operation such as road/sea/road.

Combi ship
A vessel designed to carry both containers and conventional cargoes (ICHCA). See also Omni carrier diagram XIV page 586.

COMBITERMS
Delivery terms for international group age traffic (among forwarders).

COMBO
Combo Line - a shipowner.

COMECON
Council of Mutual Economic Aid.

COMET
Committee of Middle East Trade, a BOTB area advisory group.

Com/I
Commercial Invoice.

Comite Maritime International
An international committee of maritime lawyers based in Antwerp.

COMITEXTIL
Co mite de co-ordination des industries textiles de la CEE (French) (Co-ordination committee for the textile industries in the EEC).

COMLOSA
Committee of Liner Operators to South America.

Commercial acumen
The ability of a person to identify, create and cultivate maximum advantage of commercial opportunities in the market place which may be self created or simply arise through a particular circumstance. In so doing the person will develop through his own enterprise the commercial situation or business on a profitable long term basis improving the overall market share.

Commercial advantage
The commercial advantage gained in the market place by a producer over its competitor. This maybe a price advantage; larger network of sales outlets; more favorable after sales service and so on.

Commercial Agent
An intermediary who brings the exporter into direct contractual relationship with buyers in his or her territory. Agents are normally paid by flat rate commissions. Advantages of using the Agent from the Exporters standpoint include the exporter has many clients which means a spread of small credit risks, and he has effective control over his sales policy. Guide lines regarding the appointment of Agents are found in the Commercial Agency - publication No 410 of the International Chamber of Commerce.

Commercial analysis
The process of analysing a particular investment or general business situation in a strictly commercial environment with a view to determining the commercial element involved and the implications which flow from them. This may be price, product specification, competition, market profile, distribution and so on.

Commercial and Development Manager
A managerial post responsible for devising and implementing policies to aid the development of the entity/company business on a profitable basis.

Commercial cargo
Cargo conveyed on a particular transport operators schedule such as container shipment, air freight, international road transport and so on, for which the shipper remunerates the carrier for the conveyance of the goods, and the cargo does not constitute a consignment under a foreign aide/gift programme for which no freight is raised or a substantial discounted tariff is applicable. See also non commercial cargo entry.

Commercial considerations
The commercial aspects involved in a situation which may involve the decision making process.

Commercial development
The process of developing a product(s)/service(s) for a market. It may be the expansion of a transport service; the provision of a new range of products; or commercial site of offices and flats.

Commercial Director
The person at Director level within a Company responsible for all the Commercial policy of the business. He is responsible to the Managing Director and his duties include charging policy, marketing and selling, development of the business and so on. An important post within a Company requiring a person of high business acumen calibre.

Commercial Invoice
It is an accounting document prepared by the exporter (seller) in the name of the importer (buyer) or Agent. It evidences the actual dispatch of the goods specified or provision of services, and indicates their quantitative and qualitative characteristics, price, value and other information necessary for the preparation of accounts.

Commercial Manager
The person responsible for the commercial aspects of a business, which in an airline or shipping company can embrace rates, fares, claims, marketing, commercial development etc.

Commercial market
A segment of the market embracing the commercial sector. This tends to involve all areas of commerce/business and its infrastructure.

Commercial Policy
The commercial policy of a particular company or in a particular set of circumstances. It may be for example on pricing whereby the company will raise prices by five per cent on goods up to £1,000 and four and half pen on goods over £1,000.

Commercial research
The process of researching into the commercial field such as evaluating the merits of an existing rates structure amongst shippers.

Commercial risk
A risk undertaken translated into financial terms by an entrepreneur. In the process of executing a commercial policy or concluding a contract or other circumstances. It maybe a property developer in the development of a site for residential development, or a transport operator starting a rates war by reducing rates to increase market share and in so doing hopes the volume, will increase - albeit with a lower average unit yield - but with much improved revenue production.

Commercial Risk analysis
The process of analysing a particular investment or general business situation in a strictly commercial environment with a view to determining the commercial risk areas and how they can best be minimized. The risk maybe increased competition, general market vulnerability to decline, government control of prices and so on.

Commercial Storage
The storage of commercial merchandise as distinct from household effects in a warehouse.

Commercial Strategy
The commercial strategy adopted by any Company/entity relative to all commercial aspects of the business. This includes both short term and long term policies. It embraces marketing, charges, profit levels, market share, market participation i.e. home and overseas including countries attitude towards competition, and so on.

Commissary goods
Goods of little or no duty significance such as catering supplies, equipment.

Commission
Remuneration paid to an intermediary for the introduction or servicing of business.

Commission Agent
An agent who earns his/her living from the commission he/she obtains from selling the product(s)/service(s) of his/her Principal. Hence a product I for £100 on a ten per cent commission would earn the Agent £10.

Commission on International Commodity Trade United Nations, New York
A Commission to investigate international raw material problems.

Commodity analysis
The process of analyzing a range/selection of commodities. This may arise in transport whereby an analysis of commodities conveyed on a particular route is undertaken during a specified period and the revenue ~ commodity generates.

Commodity Classification Rates
An Air Freight rate based on commodity classification type. Also applies to sea transport.

Commodity mix
Details of the commodities conveyed in a consignment which usually is a groupage consignment embracing a number of commodities. For example it could be a consolidated/groupage consignment conveyed in an ISO container.

Commodity rate
A rate devised for particular commodities which maybe subject to minimum weight restrictions, availability on certain services, and operative between specified points. It is particularly established in IATA Air Freight services.

Commodity trades
Any primary product or raw material marketed internationally either in its original state for example mineral ores, corn, cotton, etc., or after the initial process which makes it acceptable as an industrial raw material, for example metal ingots.

Common Agricultural Policy levy
A charge on imported foodstuffs into UK from countries other than EEC.

Common carrier
Person/Company inviting clients - in return for a consideration – to transport goods from one place to another.

Common code of practice
A uniform code of practice/procedure which applies to all concerned within a particular situation/category. For example the type of ticket found on all IATA Airlines is of similar layout and a common code of practice is adopted regarding the inter-line accountancy settlement arrangements through a clearing house.

Common Market
Countries which are members of the European Economic Community permitting free trading amongst themselves. See EEC entry.

Common Short Form Bill of Lading
An abridged form of Bill of Lading which covers shipper/forwarder from port to port and through transport consignments including containerized shipments but excluding combined transport bills of lading. It is fully negotiable and has the normal bill of lading lodgment and presentation procedures.

Common user facility
A facility available to all participants within a scheme/group of Companies. An example is found in the facilities available at an airport for passengers of all Airlines using it. Such common user facilities includes restaurant, lounge, luggage trolleys, etc.

Commonwealth Preference
System in UK whereby goods from Commonwealth countries imported at concessionary tariffs.

Commuter
A person who makes regular daily work journeys to and from work usually to a conurbation area by rail. It can also apply to a much lesser degree to regular work journeys undertaken by coach, sea (ferry), private car or air.

Community
Any or all of the European Communities; the European Economic Community; the European Coal and Steel Community, and Euratom,

Community goods
Goods which wholly originate in the Community (EEC) and other such goods which are in free circulation.

Community treatment
The admission of goods as Community goods into a member state of the EEC.

Communaute Financiere Africaine
A currency used by a number of countries involving Benin, Congo, Senegal and so on. See Appendix 'C'.

Comp
Combined (holds); or compound.

Companionway
A set of steps, leading from one deck to another on a vessel; or ladder used for disembarkation or embarkation of passengers/crew.

Company
A legal entity, the life of which is dependent on that of its members. There are three ways of forming a company or corporation namely by charter, by Act of Parliament, or by registration under the Companies Act.

Company Liquidity
The liquid assets of a company such as cash and bank deposits. The UK Department of Trade conducts a quarterly survey of the net financial position of a range of mainly large companies, looking at their liquid assets (cash and bank deposits) and their liabilities (mainly bank borrowings).

Company Secretary
A post responsible for looking after all the Companies affairs within the legal framework of a public limited company.

Company Service contract
Contract of employment between seafarer and shipowner.

Company's own field organisation
A method of direct export trading whereby the exporter employs agents or distributors to which the Company's technical export salesmen, attached. The agents or distributors undertake all the importing and processing of shipments. The technical export salesmen provide technical assistance to clients and obtain orders.

Company structure
The organisational structure of a particular company.

Company technical specialist export salesmen/saleswomen
A method of direct trading overseas. This concerns a Company employing its own salesmen/saleswomen to sell its products/services in overseas markets and in so doing visit the countries concerned and become involved~ in face to face selling between seller (exporter) and buyer (importer).

Comparative Advantage
A country has a comparative advantage relative to a second country in the production of the commodity in which it has a lower opportunity cost than the other country. An economic international trade definition. A similar criteria can be applied to other industrial/commercial situations.

COMPAT
Computer aided trade.

Compensation agreement
An International trade term which links the goods a country wishes to import to the types of goods it wishes to export thereby endeavouring to strike a balance between the level of imports and exports. It obtains primarily in centrally planned economies and thereby lessens the risk of a trade imbalance. See centrally planned economy entry.

Compensating products
Goods imported under inward processing relief arrangements.

Compensatory levy
A payment made on exportation, whereby compensating products resulting from a manufacturing process may be exported to Greece and Turkey without losing entitlement to the reduced rates of duty, even though goods from which these products are made have not borne the Community customs charges applicable to them.

Competition
The circumstance whereby a product(s) or service(s) is competing with another product(s) or service(s) in the market place. It may be direct competition such as two taxi companies competing in the same market in a particular area, or indirect competition whereby the railway company competes with the coach operator.

Completely knocked down
Consignments which are assembled at destination as distinct from being transported as complete unit.

Completion of end use
The putting of goods to the use prescribed in the Customs tariff as the condition of their admission to an end use heading or sub-heading, suspension, or quota. A customs term.

Composite packaging
A package consisting of a plastic receptacle and an outer protection in sheet metal, fibre board, plywood etc., so constructed that the receptacle and outer protection form an integral packaging for transport purposes. Once assembled, it remains thereafter an integrated single unit.

Composite trailer
A semi trailer supported on a converter dolly.

Compound deferment
An imports accounting system relative to V AT which operates in France on a deferment period of up to 150 days.

Comprehensive Bank Guarantee
A guarantee given to a bank as security for finance made available to an exporter for goods covered by a comprehensive insurance. It may be a guarantee up to 100 per cent of the invoice value and this is the amount the bank will lend. The guarantee assures the bank of unconditional reimbursement of any payment not received within three months of due date, plus interest.

There are two types of Comprehensive Bank Guarantee depending on the method of trading adopted:

(i) Comprehensive Bank Guarantee: Bills or Notes: This is available when the payment is obtained by means of bills of exchange or promissory notes, and the credit period ranges from sight to up to two years. To obtain the finance, the exporter presents the bills or promissory notes to the bank, together with evidence of shipment and a warranty that the terms ~ insurance cover have been complied with.

(ii) Comprehensive Bank Guarantee: Open Account: This is available when the exporter receives payment direct from the buyer under ~ account and the credit period does not exceed six months. To obtain the finance the exporter presents a schedule of debts, evidence of export and a warranty that the terms of insurance have been complied with. The exporter issues a promissory note to the bank to cover the repayment.

Compression
The process of a package bulging, such as a carton with side bulges caused by over-tightening of straps is bulged by compression.

Comprised total loss
An arranged settlement on a hull policy where there is no claim for actual or constructive total loss but is impracticable to repair the vessel.

COMPRO's
The Trade Facilitation Bodies within the European Communities.lt deals with simplification of documentation and trade procedures, electric ~ processing and so on.

Computer
A data processor that can perform substantial computation, including numerous arithmetic operations or logic operations, without intervention by human operator during a run.

Computerised Accounting System
A computerised accounting system embracing all the salient accounting processes including income, expenditure, customer billing, account payments, management information and so on.

Computer-aided design/computer-aided manufacturing
The application of computer aids to design, draughting, planning, estimating, and manufacture primarily in the mechanical and electrical engineering sectors of industry. The system speeds up the design process and allows the design to be fed directly, in digital form, into a numerically controlled machine tool for automatic manufacture of the product.

Computer output to microfilm
A technique where a mass of text is filmed and stored in a small space,

Computer passenger codes
The codes used to identify particular passengers for the purpose of compiling an invoice for billing to a customer.

Computer print out
The provision of data in tabulated form from a computer.

Computer rate codes
The codes used to identify particular rates for the purpose of compiling invoice for billing to a customer.

Conbill
Code name of approved BIMCO uniform Bill of Lading used when no charter party is signed.

CONCORP
Construction Corporation (Burma).

Condensing turbine
After passing through the turbine and expanding to a low pressure, the exhaust steam is discharged to a condenser where it is cooled and condensed into water before being pumped back to the boiler. (c.f. Backpressure turbine).

Conditional bond
A bond which specifies documentary evidence or one which contains no requirement for documentary evidence termed a 'Default Bond'. Bonds which do not require documentary evidence are not therefore fully conditional and provide little or no protection to the exporter (seller). An international banking term.

Condition monitoring
Ship maintenance technique to determine when it would be carried out instead of undertaking the task on a regular basis without regard to its condition, for example the ship's machinery.

Condition precedent
A condition imposing liability only on an event first happening.

Conditions of carriage
The terms and conditions by which the carrier contracts to convey the cargo and referred to on the consignment note or charter party.

Conditions of contract
The terms and conditions by which the carrier contracts to convey the cargo and referred to on the consignment note or charter party.

Cone
Top part of stacking fitting that fits into bottom hole of ISO corner casting (ICHCA).

Conference
Organisation whereby number of shipowners often of different nationality offer their services on given sea route on conditions agreed by members; or whereby a company/entity calls a sales conference to promote its product/service. See Sales Conference entry.

Conference system
A conference system is an association of liner shipowners operating in the same trade who agree to abide by a set of regulations, and to quote the same rates of freight, to the mutual benefit of shippers and themselves.

Confirmation
The written acknowledgement of a firm deal involving a placing or deposit or sale or purchase of funds or securities; for reasons of bank security; no dealer should be permitted access to confirmations.

Confirmation of renewal
Acknowledgement sent to the insured after payment of the renewal premium confirming the continuation of the policy for a future term.

Confirming bank
A bank, other than the 'issuing bank', which undertakes on its own responsibility to pay, accept, or negotiate under the credit.

Confirming House
An indirect export trading technique whereby confirming house acts as the overseas buyers' agent and will either find sources of supply or negotiate with suppliers nominated by the buyer. The exporter deals direct with the confirming house who will normally pay the exporter for the goods. They will usually be responsible for financing the contract on the buyers' behalf arranging the necessary documentation and shipping the goods to their final destination. The Confirming House enters into two legal relationships, one with the overseas customer who asks to produce certain goods for him and one with the seller in the home market with whom it places the order.. relationship with the overseas customer is normally that between principal' and agent, whereas the relationship with the seller in the home m~ depends upon the nature of the contract which the Confirming Hit concludes with him. However, whilst selling through independent organizations is relatively easy, the exporter has no control over marketing in the country of consumption and the success or failure of the exporter’s product(s) depends entirely on someone else.

Confirmed irrevocable credit
A confirmed irrevocable credit is an irrevocable credit to which the 'advising bank' (at the request of the 'issuing bank') has added its confirmation that payment will be made. The 'advising bank' thus confirms that it will honour drawings which conform to the terms of the letter of credit. For example through the documentary letter of credit system situation providing credit confirmation in London, and subject to exporter complying with all the terms of the credit, the actual payment guaranteed: there is no risk of non payment, either in the event of insolvency of the buyer or because of exchange control regulations in country of the importer.

Congenbill
Code name of approved BIMCO Bill of Lading used with Charter Parties.

Congestion surcharge
A surcharge raised by the shipowner payable by the shipper on cargo in circumstances where excessive congestion/delay is experienced in the port. The surcharge is to recoup the additional cost incurred by the shipowner consequent on the delay experienced.

Coniine bill
Code name of BIMCO approved Liner Bill of Lading. Various editions exist including English, Spanish, German and French.

Coniine booking
Code name of liner booking note used with Coniine bill Liner Bill of Lading shipments.

Connecting carrier
A carrier with services meeting those of another carrier so that traffic interchanged between the carriers at the connecting point.

Consecutive days
Day which follows one immediately after the other relative to a charter party terms. Alternatively, it may be termed running days.

Consensus ad idem (Latin)
Mutuality of consent and understanding of all the material elements.

Consequential loss
Insurance covering the loss of earnings of a business following fire or other specified damage. It is also termed Business interruption.

Consign
To forward goods from one place to another.

Consignee
Name of agent, company, person receiving consignment.

Consignment
One or more pieces of goods accepted by the carrier from one shipper at one time and at one address, receipted for in one lot and moving on one Air Waybill to one consignee at one destination address. A similar criterion obtains for other transport modes such as rail, sea, and combined transport.

Consignment note
A document which acknowledges the terms under which the goods are accepted and conveyed and usually accompanies the cargo throughout the transit.

Consignor
Name of agent, company, person sending consignment - the shipper.

Consolidated data plate
Plate affixed to a container giving details of gross and tare weights, external dimensions, owner, serial number etc. (ICHCA).

Consolidated rate
A rate devised by an Agent Freight Forwarder for consignments dispatched under consolidation arrangements involving an Air or surface international transit. It usually includes both the collection and delivery charge, customs clearance, plus of course, the air or surface rate element.

Consolidation
The process of dispatching as one overall consignment under an Agent/Freight Forwarders sponsorship by Air, Rail, Container or Road haulage unit, a number of individual compatible Consignments from various consignees to various consignors.

Consolidation depot
A depot where parcels of cargo are grouped and packed into containers.

Consolidator
A person or Company (Freight Forwarder) undertaking consolidation of consignments.

Consortia
A company formed from a group of companies to manage a business such as found in some major deep sea container services serving a group of ports situated in various countries, and emerging from individual National Shipping Lines formerly engaged in break bulk/tween deck tonnage operations.

Consortium
A group of combined Transport operators who agree to rationalise sailings in a trade and in so doing carry each others containers.

Constr
Construction.

Construction and use
The title of legal regulations which govern the construction and use of vehicles in United Kingdom.

Construction rate
A non saleable 'add on' amount for Tariff publication purposes to be used only in combination with other rates for carriage from, to, or through a specified point.

Construction subsidies
Government financial contribution towards building cost of a specified vessel.

Constructive total loss
This arises when the assured abandons the subject matter insured such as the cargo or vessel, to the underwriter and claims a total loss. He may do so when he is deprived of the insured property and is unlikely to recover it, or in the following situations: (i) - the ship - the cost of recovery and repair would exceed the insured value; and (ii) for cargo - the cost of recovery, reconditioning and forwarding would exceed the value of the goods at destination.

Consul
Commercial representative of one country residing officially in another whose duties are to facilitate business and represent the merchants of his nation.

Consulage
Duty paid to a consul for protection of goods.

Consular fees
Fees raised by the consulate relative to the importation of a consignment and passenger immigration. This involves, for example, the authentication of the export invoice by the consulate; the accreditation of documents involving an international consignment and issue of the visa for passenger immigration.

Consular invoice
A document representing confirmation of the consulate of the respective country in the country of the exporter that the annotations of the exporting company and the signature of the authorised person of the exporter are authentic. It confirms that the respective company really performs the function of a foreign trade enterprise in the country of the exporter, and that the declaration concerning the price, the total amount, the place of dispatch as well as the number of packages and the weight of the goods are correct. Such a document is mandatory when dispatching goods to certain parts of the world particularly to those countries which enforce ad val'orem import duties.

Consumer behaviour
Consumer response or reaction to a change in price, design, new product promotion, etc for a particular commodity or range of commodities in a particular area, region, county, or countries etc.

Consumer demand
The market demand for a product or service emerging from the consumer market base who may be the housewife for washing machine, or the man in the street' for men’s shoes.

Consumer durables
Products provided for the consumer market and classified as replaceable items through age/specification change/new technology such as cars, domestic appliances etc.

Consumer led marketing policy
A marketing policy adopted by a Company/entity which reflects/accords with the consumers needs in the market place. Also termed client led marketing policy.

Consumer market
That segment of the market involved in products demand emerging from the average household. This involves both food and merchandise but can extend to travel, household appliances and so on.

Consumer marketing
The process of promoting a consumer product such as soap, perfumes, washing powders in the consumer orientated market place especially towards the household, and through packaged advertising/promotions.

Consumer products
Goods produced for the consumer market such as household products, clothing, cars etc. See consumer goods entry.

Consumer profile
The composition or make up of the consumer(s) identified with a particular product or service provision. It may be for example men of 17/35 years of age who are attracted to a particular sporty designed motor car.

Consumer protection legislation of sale
The aim of the consumer protection legislation in the field of goods is to prevent individuals being taken advantage of by large businesses imposing on them harsh contractual terms, against which they have neither the financial power, nor the freedom of choice to resist. It involves private, business and consumer sales.

Consumer research
The process of researching into the consumer profile within the market place for a particular product or range of products. For example research may be undertaken into owners of a particular brand of washing machine, the reason of choice, general satisfaction, age group and so on.

Consumer Relations Manager
A managerial position responsible for-maintaining good relations and satisfactory public image between the Company and its clients.

Cont
Continent of Europe.

Contact Damage
Contact - when the ship strikes something other than another ship, the latter being 'collision'.

Cont. (A.H.)
Continent, Antwerp - Hamburg range.

Container
A container is a transportable unit permitting intermodal unitised merchandise distribution which may be national or international. This may be involved on FCL or LCL type of consignment. Most container types are built to ISO standards. The usual container modular size is 2.45m x 2.45m with a varying length of 3.05m, 6. 10m, 9.15m, or 12.20m. A wide variety of containers exist including covered dry, top loader, bulk liquid, bulk powder, bin type, skeleton, refrigerated and so on.

Container Base
The depot for packing and unpacking 'less than container load' consignments. See Container Freight station entry.

Container berth
Berth or quay at which containerised cargo is handled.

Container Bills
Usually a 'received for shipment' bill of lading issued by the Container, operator to cover multi-modal transport from an inland container depot to final destination. The Bill of Lading is endorsed 'Shipped Bill of Lading the time the container is stowed on board the vessel at the part of departure.

Container block
A number of horizontal stacks inter connected and secured horizontally. using bridge stackers (ICHCA).

Container control
The process of controlling the ISO container fleet. In so doing it is desirable the optimum use be made of them, and adequate policing is undertaken at all times. Usually computers feature prominently in container control.

Container depot
The depot for packing and unpacking less than container load consignment. See Container Freight Station entry.

Container dues
Charges raised by Port Authority on containers passing over the quay based Co on the individual container.

Container frame
The strength members of the container (ICHCA).

Container Freight Station
The depot for packing and unpacking 'less than Container load' consignments. Such a depot is called in UK a container base; a container depot in Australia, and inland clearance depot in UK and the Indian Sub Continent.

Container head
Sometimes used to describe the end opposite the doors of the container.

Container import cargo manifest
A document detailing/listing the cargo contents of all the container which will be unloaded/discharged from a particular ship on a specified sailing named port and berth.

Containerisation
A method of distributing merchandise in a unitized form thereby permitting an inter-modal transport system to be evolved providing a possible combination of rail, road, canal and maritime transport.

Container leasing
The facility to lease from a Container Company ISO containers. It rnay be for one, two, three years or other mutually acceptable periods to the' parties. Two types of container leasing exist: a master lease available for one or two trips, or long term lease of up to five years involving several thousand containers.

Container load
Consignment which, in a container, fully occupies the internal capacity, or conversely reaches maximum payload for that particular unit (ICHCAII

Container market
The market demand for the container. This embraces shippers wishing to convey their merchandise therein either on FCL, or LCL basis. See container user analysis.

Container on flat car
Carriage of containers on conventional railway flat cars, as opposed to specially designed rolling stock. (ICHCA).

Container operator
A company/entity involved in the provision and operation/control of ISO containers. In so doing the container operator would market the container service encouraging shippers to use it as a FCL or LCL (consolidated/ group age consignments), in liaison with shipowner(s) for a trade(s). The container operator may own the container or have them on lease.

Container packing certificate
A document involved in the containerized shipment of dangerous cargo by sea transport. It certifies that the container was clean, dry, and fit to receive the cargo; no cargo known to be incompatible has been stowed therein; all packages have been inspected for damage, and only dry and sound packages loaded; all packages have been properly stowed and secured and suitable materials used; the container and goods have been properly labeled; and finally a dangerous goods declaration has been received/ completed for such dangerous goods consignment packed in the container.

Container Park
A place where containers are accommodated. It may be in a port, inland clearance depot, container depot and so on. The containers may be stacked up to four high.

Container part load
A consignment which neither occupies the full capacity of a container nor equals the maximum payload and will, therefore, allow the inclusion of another or other part load. (ICHCA).

Container pool
Agreement between various transport carriers and/or leasing companies concerning the exchange of containers. (ICHCA).

Container safety convention
International convention governing container safety standards.

Container ship
Vessel built to convey containers.

Container space allocation
The process of allocating container space on a particular vessel. For example it may be undertaken on a port of call basis with specific numbers for loading and unloading based on the TEUs market needs.

Container Stack
Two or more containers placed one above the other forming a vertical column. (ICHCA).

Container stuffing
The process of stowing a container of merchandise. In so doing one must bear in mind types of commodities, including their characteristics weight/ dimension/compatibility; and distribution by weight/volume of merchandise throughout the container.

Container use
The degree of utilisation of a container or fleet of containers throughout a specific period. Usually it is an annual user analysis identifying the period the containers are loaded or empty; transits; unserviceable awaiting repair or 'laid up' awaiting employment.

Container unstuffing
The process of unloading the contents of a container.

Container user analysis
The process of analysing over a specified period of maybe one month, I months, etc. the actual use of the container fleet on a particular ~ service/trade or throughout the Company/Entity container business. This. may involve, average load; average journey length; average revenue container movement; availability of containers discounting those non operational such as awaiting repair; average demurrage/stand age period; average period operational containers available for traffic but not because no demand; average period containers in operational revenue production use; and finally any financial detail which may be injected into such an analysis as are meaningful available. It is likely the analysis will segregate container type and any other special feature.

Container utilisation
The utilisation of the ISO container especially in regard to the period of its operational availability and the time the container is being used for revenue earning purposes. See also container user analysis entry.

Container Yard
A container yard is accommodation where (FCL) and empty containers are received from or delivered to merchants (ICHCA).

Contango
When nearby futures prices are at a discount to forward prices. A BIFFEX term.

Cont (BH)
Continent Bordeaux - Hamburg range.

Contcoal
Code name of Charter Party used in coal trade published by BIMCO.

Cont (HH)
Continent Havre - Hamburg range.

Continent Britain and Asia (COBRA)
The consortium in which the Overseas Containers Ltd trades in the Europe/India/Pakistan/Bangladesh service.

Continental trade
International trade between Great Britain and European seaboards.

Contingency arrangements
Those arrangements available to cope with any disruption to a scheduled service such as diverting the vessel to another port.

Continuous forms
Forms in continuous length ('endless' web) which can be fed automatically through the machine on which they are processed.

Continuous survey
Vessel undertaking only portion of her survey annually i.e. 20% or 25%

Contr.
Contractor.

Contra (Latin)
Against.

Contraband
Import/export of prohibited traffic.

Contract
This involves an offer and acceptance. Contracts are normally but not necessarily confirmed in writing.

Contract for the Sale of Goods
A contract for the Sale of Goods is one whereby the seller agrees to transfer the title10 goods for a money consideration called 'the price'.

Contract hire
The process of hiring a product under contract terms. This may be a road vehicle for six months.

Contract licence
Authority to import/export material and equipment supplied under a large contract.

Contract Maintenance
A situation whereby a Company undertakes to do on a contract basis the maintenance of specified equipment, vehicles etc.

Contracts Manager
A managerial position within a Company/Entity responsible for negotiation and terms including price of a particular product or service relative to a particular contract.

Contracts Officer
A position within a Company/Entity responsible for the negotiation and terms including price of a particular product or service relative to a particular contract.

Contract system
Situation whereby shipper signs a contract to forward all his goods by conference line vessels either in the general course of business or with a specified project over certain period.

Contractual relationship
The relationship between two parties as defined within the terms of the contract.

Contra preferentem (Latin)
Against the one who it should favour.

Contribution
In non-marine insurance this term refers to a sharing of loss between the assured and the insurer or between insurers. In marine insurance and shipping practice it refers to salvage charges and general average adjustments. The contribution is the amount paid or payable by the insured to a salvage award or a general average fund.

Contributory value
The value on which a contribution to a general average loss or salvage award is assessed.

Controlled atmosphere
Sometimes used in addition to temperature control to prolong the storage life of fruit. (ICHCA).

Controlled economy
A situation where the complete economy is State run including all the trading activity except for tiny pockets of free enterprise such as the peasant who is permitted to grow a few vegetables and sell them for cash. This sort of economy is generally communist controlled and its international trail, carried on by the State Trading enterprises.

Controlled rates
Rates of currency exchange which are not allowed to exceed an upper and a lower limit by means of exchange control.

Controlled transit
A consignment which is monitored at specified points of its transit.

Control ticket
A coupon/ticket issued by or on behalf of a transport operator with the aim to regulate/control/limit the number of passengers per schedule/sailing(s) flight(s) etc.

Contwood
Code name of charter party used in timber trade published by BIMCO

Conv.
Conveyance, or converted (from).

Convenient speed
Voyage charter party term indicating that vessel must proceed with due diligence in the usual and customary manner.

Conventional cargo
Cargo not carried in containers, flats etc., but stowed in normal packages

Convention Internationale Concernant Ie transport de Marchandises per chemin de fer (French)
International convention on Carriage of Goods by Rail applied by 19 European railway Administrators setting out the conditions for the international carriage of goods by rail.

Convention on the contract for the International Carriage of Goods by Road
An international convention concerning the carriage of goods by road which came into force in the United Kingdom in 1967 and is embodied in the Carriage of Goods by Road Act 1965. It permits the carriage of goods by road under one consignment note under a common code of conditions applicable to some twenty-six countries primarily in Europe.

Convention relative au contract de transport internationale des Merchandises Cord,. Route (French)
International convention on Carriage of Goods by Road.

Convertible bond
Loan stock that carries the right for the holder to exchange for other securities, usually the ordinary share stock of the borrower, at a predetermined conversion price.

Convertible currency
Those currencies which can be freely bought and sold in exchange for other currencies are regarded as convertible currencies.

Conveyor belt
Form of automatic unloader for freight..

Convolute (fibre drums) winding
A style of straight winding by which a tube is formed by having each ply placed directly over the preceding ply.

Conwartime
The code name of a BIMCO approved charter party clause relative to 'war' and entitled 'Baltic Conference War Risks clause for Time Charters 1939'.

Conway
The code name of a BIMCO approved charter party clause relative to Canals and entitled 'Baltic Conference Stoppage of Canals and Waterways clause 1968'.

co
Case oil; certificate of origin; cast order; cargo oil; or cash order.

CO
Continental Airlines.

c/o
Certificate of origin.

COO
Country of origin.

Cooperage
The repairing of casks or the services of a cooper in repairing damaged cargo. Also the opening of cargo for Customs examination and repacking.

C.O.P.
Custom of port.

COP ANT
Pan American Standards Commission. Founded 1961. Comprises national standards bodies of USA and 11 Latin American countries. A co-ordinating organisation concerned with the regional implementation of ISO and lEC standards and recommendations.

Copper chrome arsenate
A solution used in immunising timber against wood-boring insects. (ICHCA).

COPR
Centre for Overseas Pest Research.

Coras Iompair Eireann
Eire's state owned bus and railway undertaking. The CIE are UIC members.

Cord, Igniter
Used to transmit ignition from a device to a charge or primer, this cord of textile yarns is covered with black powder or another fast burning pyrotechnic composition and of a flexible protective covering. It may contain a metal core wire or textile threads to improve the strength. It burns progressively along its length with an external flame. A term associated with the movement of dangerous classified cargo.

Cordoba
The currency of Nicaragua. See Appendix 'C' .

Cordoba invoice
An invoice payable in Nicaraguan cordoba relative to an export sales contract.

COREPER
Committee of Permanent Representatives of the EEC.

Corner casting
Hardware located on top and bottom of each container corner post used for handling and securing a container. (ICHCA).

Corner guide
A fitting that guides the container into a position when being loaded on the vessel or lifting spreader guides. (ICHCA).

Corner post
A vertical structural member at either side of an end frame of an ISO container joining a top and a bottom corner fitting. (ICHCA).

Corporate Finance
The policy adopted on funding the business throughout the Group and in so doing ensure the overall objectives corporately are adopted to produce coherent financial policy. This would include the day to day financial policy of the corporate entity.

Corporate Management
The Management structure found within the corporate entity which may, tend to be imposed as far as practicable within the overall Group. See corporate policy.

Corporate planning
The policy adopted on planning the business throughout the Group and in so doing ensure the planning objectives corporately are adopted throughout to produce a coherent policy.

Corporate Policy
The overall policy of the Company embracing all the elements of the business. For example the Company - which maybe a holding company could indicate the credit permitted to all clients must not exceed 14 days from which date interest charges will arise. It also extends to investment, buying, and other corporate policies within a company.

Corporation of Lloyds
More commonly known as Lloyds of London; it is an association of insurers based in London specialising in the insurance of marine and similar risks. It is world renowned for its marine insurance business.

Corrosion
Deterioration of a metal by natural causes.

Corrugated container
A container with corrugated walls and ends which gives added strength (ICHCA).

Cory
The currency of Republic of Guinea. See Appendix 'C'.

COS
Cash on shipment.

COSCO
China Ocean Shipping Company.

COSH
Committee on Shipping Hydrography (of the GCBS).

COSIRA
Council for Small Industries in Rural Areas (UK).

COST
European Co-operation in Science & Technology.

Cost analysis
The process of analysing a particular investment or general business situation on a strictly cost environment basis with a view to determining the cost elements involved and the implications which flow from them. This may be labour, distribution, materials, publicity, design, and so on.

Cost of Freight (named port of shipment)
A cargo delivery term under which the seller (exporter) pays the cost and freight necessary to convey the goods from the port of shipment to the port of arrival. The buyer (importer) will be responsible for any damage or loss to the goods when the goods pass the ship's rail at the port of shipment. The seller bears the cost of freight from his factory to the port of shipment, sea freight from the port of shipment to port of arrival including cost of loading/ unloading in the port of arrival and the cost of packing. The buyer (importer) bears the cost of preparing the certificate of origin, consulate documents and any other documents that may be needed to clear his goods in the port of arrival.

Cost and Insurance
A cargo delivery term whereby the seller (exporter) pays the cost and insurance whilst the importer (buyer) funds the freight necessary to bring the goods to the named destination.

Costa Rican Colon
The currency of Costa Rica. See also Appendix 'C'.

Costa Rican Colon invoice
An invoice payable in Costa Rican Colons currency relative to an export sales contract.

Cost benefit analysis
The measurement of resources used in an activity and their comparison with the value of the benefit to be derived from the activity.

Cost centre
A location, function or items of equipment in respect of which cost may be ascertained and related to cost units for control purposes.

Cost effective
The process of determining the general efficiency of a particular service/ facility/process etc. in cost or 'value for money' terms. In so doing one must have regard to competition, system and the options presented to improve the system to enable it to become more efficient. An example may be in an office where by centralising the typing resources, the cost of typing a letter is reduced by thirty per cent.

Cost escalation cover
Insurance cover provision against escalation in UK cost in contracts of £5 million or more where the manufacturing operation takes at least two years. A facility available in ECGD insurance policies.

Cost Insurance Freight
Under this cargo delivery term the exporter (seller) undertakes all the risk and cost to deliver the goods to the named destination port embracing both the freight and insurance. The buyer (importer) accepts the goods at the named destination port when they have passed over the ship's rail and Cost insurance freight Landed accepts all the cost from this point onwards including unloading expenses any wharf age, customs, documentation, and onward freight cost. Packing cost is borne by the exporter (seller). Insurance is undertaken by the exporter (seller) who bears all the cost but the insurance is transferred, the importer (buyer) at the time of shipment when Bill of Ladin!1 tendered to the importer (buyer). The importer (buyer) pays unloading costs which are not included in the freight. The importer (buyer) must give notice to the shipowner of any resultant loss and bears all the risk of the goods from the time when they have passed the ship's rail at the port of shipment. Under this term the exporter (seller) becomes involved in maximum distribution arrangements and income there from.

Cost insurance freight Landed
A cargo delivery term identical to CIF except the cost of unloading including lighterage and wharfage are borne at the destination port by the seller (exporter) and not the buyer (importer).

Cost of funds
The term sometimes used as the basis for a loan pricing, particularly when the source of funding is uncertain or includes reserve assets costs. A plea definition of what is meant by this term should be established if it is to be of any practical value; it should be noted that the normal funding cost of a commercial loan is the offered rate, being the rate which the bank has to pay to another bank in the market for the funds obtained for the purpose.

Cost of Sales
The cost of sales is determined by adding the beginning inventory to the net cost of goods purchased during the period and subtracting the cost of ending inventory. This cost usually embraces the cost of materials, labour and the indirect costs of the products sold.

Cost per vehicle mile
The total cost of operating a vehicle mile. This will include fuel, crew cost, general maintenance, road tax, depreciation, insurance, administration, advertising, and so on. It will include both direct and indirect cost.

COSTPRO
Canadian organisation/committee for the simplification of Trade procedures based on Ottawa.

COT
Customers own transport.

COU
Clip on unit associated with the portable refrigeration units; or central operating unit - an organisation/body set up to co-ordinate consortium operations in a trade such as a container ship consortia.

Couchette
Train passenger accommodation which is so designed to enable passengers to be seated on day time services and converted to sleeping accommodation on overnight services.

Council for Mutual Economic Assistance
Founded in 1949 to promote co-ordination between the USSR and East European National standards bodies and to assist the production of common or harmonized standards. Membership includes Bulgaria, a choslovakia, German Democratic Republic, Hungary, Mongolia, Poland, Romania, USSR, Cuba, and Vietnam.

Council of Europe
Based in Strasbourg and a parliamentary forum for discussion by all West European Nations.

Council of Ministers of EEC
Twelve Ministers of member governments, the actual Minister present depending on the subject in question. It decides on final policy on the basis of proposals from the Commission. Presidency held for 6 months in turn by each member state. Assisted by a Committee of Permanent Representatives (COREPER) and a general secretariat of 1,500 staff. The Commission of the European Communities comprises 13 Commissioners responsible for initiating and executing community policy adopted by the Council of Ministers. Answerable to the European Parliament. Acts as mediator between member governments and as guardian of the Treaties. 8,000 administrative staff located in Brussels and Luxembourg. The President and Vice-President are appointed from the Commissioners for renewable two-year terms.

Counterpart
The opposite party in a foreign exchange deal is called counterpart, i.e. a dealer selling three months forward will look to find a counterpart who wishes to buy three months forward.

Counter purchase
A counter-trade technique whereby concurrently with and as a condition of, securing a sales order, the exporter undertakes to purchase goods and services from the country concerned. There are two parallel but separate contracts - one for the principal order, which is paid for on normal cash or credit terms and another for the counter purchase. The value of the counter purchase undertakings vary in value between ten per cent and 100 per cent (or even more) of the original export order. This is the most common form of counter-trade.

Counter-trade
A form of foreign trade - loosely known as 'Barter' - in which the sale of goods or services to a country is linked contractually to an obligation to buy goods or services from that country. It is practised in 100 countries. It is particularly common in third world countries and Eastern Bloc territories. Various types of counter-trade exist including counter purchase, barter, buy-back, offset, switch trading and evidence accounts. See also separate entries. .

COUNTRY
Country Line - a shipowner.

Country damage
Damage to baled or bagged goods such as cotton caused by excessive moisture from damp ground or exposure to weather, by grit, dust or sand forced into the insured property by wind-storm or inclement weather.

Country report
A report produced on a particular country's economy and market prospects and especially useful for potential exporters for business opportunities. Such reports are regularly issued on a per country basis by International Banks.

Coupon
In financial terms on 'Bearer Securities' a detachable part of the certificate exchangeable for dividends; also the part of a bond giving the holder' the right to be paid predetermined interest; the coupon may be physically cut off the bond and sent to the stated paying agent when due for payment: also commercially a document/ticket which may have a redeemable value in a special product' promotion such as soap, washing powder etc.; or part of a combined ticket which embraces for example a ferry journey.

Courier
A person who accompanies a group on a passenger journey or accompanies/s/carries important letters/small packages on a transit which may be an international journey.

Courier Service
The process of conveying small parcels, urgent letters/papers and similarly classified material usually on an international journey with the courier accompanying the goods throughout. It applies to high value/urgent items.

Couris
The currency of Republic of Guinea. See Appendix 'C'.

Coot, Assurance, fret (port de destination convenu) (French)
Cargo delivery term. Cost, insurance and freight (named port of destination).

Coot et Fret (port de destination convenu) (French)
Cargo delivery term. Cost and Freight (named port of shipment).

Covered gangway
A piece of port equipment linking the ship with the shore (quay) which is completely enclosed thereby enabling passengers/crew personnel to embark or disembark under cover.

Covered dry container
A completely enclosed ISO container having end doors for easy access with floors fully stressed for mechanical aids, i.e. palletisation, flush panelling throughout, alloy interior skirting boards, a form of ventilation and flush mounted bars for interior roping. See diagram I page 573.

Cover Note
Confirmation of cover issued for a limited period pending the issue of a policy and where applicable a certificate of insurance.

COW
Crude oil washing; or Collection on wheels.

C/P
Charter Party; or custom of the port.

CP
Airlines. An International Airline of Canada and member of IATA

CPA
Critical Path Analysis.

C/P blading
Charter Party bill of lading.

cpd
Charterers pay dues.

CPT
Customs new Import Entry Processing system operative in the UK.

(cr)
Centre.

CR
Carriers risk; current rate; crane; or corrosion resistant material.

Cr
Credit; creditor; or crane.

Crane, Fitting-out
A crane located and especially arranged for shipyard use to place equipment in a ship after it is in the water. (ICHCA).

Crane, fixed
A crane whose principal structure is mounted on permanent or semi-permanent foundations. (ICHCA).

Crane, floating
A crane mounted on a barge or pontoon which can be towed or self propelled from place to place. (ICHCA).

Crane, Gantry
A crane or hoisting machine mounted on a frame or structure spanning an intervening space. (ICHCA).

Crane jib type Fork Lift truck
A Fork Lift truck equipped to lift cargoes. See diagram II page 574.

Crane, Luffing
A crane in which the load may be moved radically, or to or from the centre of the crane, horizontally. (ICHCA).

Crane, portal
A type of gantry crane with vertical legs with sufficient height and width to permit vehicles or rail road equipment to pass between the legs. (ICHCA).

Crane, Semi-portal
A type of gantry crane with one support on the pier or wharf, and the other on the shed wall. (ICHCA).

Crate
A wooden or metal receptacle of open construction (or framework).

CRB
Raised quarter deck/bridge (of a ship).

CRE
Commercial Relations and Exports.

Cream off the traffic
The process of a carrier taking/abstracting the traffic which attracts the highest level of rate.

Creating an Agency
The process of being invited to start an entity/business as an Agent. Overall there are three methods of having an Agency created: express agreement; implied agency and agency by ratification. See separate entries.

Credit Account Voucher
A system whereby an accredited client is afforded credit on specific terms involving the issue of a voucher when making a purchase.

Credit control
The process of ensuring all clients pay their accounts within the prescribed terms/period. See credit controller entry.

Credit controller
A person responsible to ensure all clients pay their accounts promptly within the terms of credit granted and thereby minimize the risk of bad debts arising.

Credit d'enlevement (French)
Simple deferment. See separate entry.

Credit des droits et taxes/obligations Cautionnees (French)
Extended deferments. See separate entry.

Credit information
Data available on the standing and integrity of the buyer (importer) before entering into a business relationship.

Credit insurance
The process of providing insurance cover to an exporter against payment of the goods by the importer over a prescribed period of time and under specific conditions.

Credit terms
A variety of forms of credit granted to a client. It may be payment within 28 days; a 2k% discount on payment within 14 days; a credit note for purchases above a certain level and so on.

Credit voucher
A document prepared by the seller to enable the purchaser to reduce the account/bill by the amount detailed on the voucher. See Credit Account Voucher entry.

CREST
Committee on Scientific & Technical Research.

Crew agreement
An agreement between a (UK) shipowner and seaman outlining the conditions of employment.

Crew manning
The level of manning for a particular transport unit. For example, on an inter city passenger train it may be the driver and guard, and on ship six officers and ten seamen.

Crew manifest
Inventory of crews baggage.

Crew member
A person assigned by an operator to duty on an aircraft during flight time. Also applies to a ship, road haulage vehicle and so on.

Crew subsidisation
The policy of some Governments to subsidise their ships crew cost.

CRF
Clean report of findings.

CRIST AL
Contract regarding an interim settlement to tanker liability for oil pollution damage.

CRN
Customs Registered Number - A five digit number added to the traders own reference number to form the Export Consignment Identifier totaling 14 digits. This system was introduced in UK from 1st October 1981 under the Export Strategy scheme.

CRO
Central Research Organisaton (Burma); or Companies Registration Office (HMG).

Cross border trading
The process of crossing the border of one country to another, and in so doing take advantage of a more favourable exchange rate and especially the product purchases which flow therefrom.

Cross currency exposure
A measure of the ability of an international company to service the debts it has incurred in anyone currency with the revenue it has received in the same currency.

Cross holdings between companies
The practice is found especially in Japan when companies tend to hold each others shares.

Cross International frontiers
The process of merchandise/consignments/passengers crossing/traveling over the border/boundary between two countries. This involves adherence to immigration and customs regulations.

Cross licensing
A technique of transfer of technology whereby both companies/parties exchange technology data.

Cross members
Transverse components attached to the bottom side rail and supporting the floor of an ISO container. (ICHCA).

Cross rate
The rate of exchange arrived at by expressing the quotations for any two currencies in terms of a third e.g. $1 = 2.50 DM. $1 = 250 yen. Hence the cross rate for Deutschmark and yen is 1 DM = 100 yen.

Cross subsidisation
The process of one profit centre/service/route subsidising another such as profitable route 'A' subsidising loss maker route 'B'.

Cross-the-market coverage
A market analysis based on a broad market assessment embracing its complete range.

Cross trade
A shipping service operated between two seaboard countries by a Shipping Company whose fleet does not fly either of the National flags and therefore is a foreign operator or third carrier.

CRS
Continuous survey cycle - refrigerated machinery (of a ship).

CR (Taiwan)
China Corporation Register (Taiwan) - Chinese Ship Classification Society.

Crude oil carrier
An oil tanker designed to convey crude oil.

Crusader Swire Container Service
An Overseas Container Ltd subsidiary company trading between New Zealand and Japan.

Cruzeiro
The currency of Brazil. See also Appendix 'C'.

Cruzeiro invoice
An invoice payable in Cruzeiro currency of Brazil relative to an export sales invoice.

Cryogenic
A freezing mixture used to administer refrigeration.

Cryogenic Liquids
Low temperature liquefied gases, such as air, argon, helium, neon and nitrogen. A term associated with the movement of dangerous classified cargo.

c/s
Cases.

CS
Continuous survey; cotton seed or curtain sided trailer.

CSC
Container safety convention - of ISO containers; or cargo services conference - IATA term.

CSC Line Ltd.
A shipowner.

CSCS
Crusader Swire Container Service an OCL subsidiary.

csd
Closed shelter deck - type of vessel.

CSG
Consultative Shipping Group - A Government Committee of Western European countries involving EEC, Scandinavia, and Japan to dealt Shipping questions.

CSH
Cash.

CSHBB
Cast steel hub non ferrous blades propeller (of a ship).

CSPC
Cargo systems and procedures committee - IATA term.

CST
Container Service Tariff.

CS with date
Continuous survey of the (ships) hull quoting date.

CT
Cubic tonnage of a ship; cargo tank; Community transit for goods passing within EEC countries; Combined transport - a transporter system where goods are dispatched to destination in a container or trailer which may undergo several modes of carriage whilst in transit i.e. road/sea/rail, counter-trade; conference terms; or container terminal.

CTC
Corn Trade clauses; cargo tank centre; or Customs Transaction code, code letter identifying the type of journey (e.g. Common Market).

CSD
Central Supplies Dept. (Singapore).

CTD
Combined Transport Document.

CTETF
Cargo Technical Evaluation Task Force - IATA term.

CTL
Constructive total loss - insured interest must be considered a total loss when the cost of retrieving and/or repair would exceed recovered/repaired value.

CTLO
Constructive Total loss only.

CTO
Combined transport operator (usually involving land and sea movements); or container terminal operator.

CTPC
Cargo Traffic Procedures Committee - IATA term.

Ctr
Cutter.

CTVM
Centre for Tropical Veterinary Medicine (ODA etc.).

CTW
Cargo tank wing (of a ship).

CTX
Cargo tank common (of a ship).

CU
Cubana airways. An International Airline and member of IATA.

Cubana Airways
An international Airline and member of IATA.

Cuban Peso
The currency of Cuba. See Appendix 'C' .

Cuban Peso invoice
An invoice payable in Cuban Peso currency relative to an export sales contract.

Cube-cutting
The practice whereby a freight forwarder obtains money by deception from the shipper and causes loss to the shipowner by giving to the shipping company reduced measurements of cargoes on which freight is charged by volume. When claiming reimbursement from the shipper, the freight is charged on the correct cubic measurement, thereby the freight forwarder obtains more money from the shipper than he actually paid to the shipping company.

Cube out
This occurs when the volumetric capacity of a container has been reached in advance of the permitted weight limit. (ICHCA).

Cu ft
Cubic foot (feet).

Cu in
Cubic inch (es).

CUKCC
Canada-United Kingdom Chamber of Commerce.

cum (Latin)
With or cumulative.

Currency accounts
If an importer has a continual to and fro flow of international business, it may be preferable to open 'accounts' in the currencies he requires, the various balances can then be used to meet any expenses incurred in tit currencies, and the balances replenished from receivables in those currencies.

Currency adjustment factor
A technique whereby a surcharge is raised by the shipowner on the same freight rate to reflect a variation on the currency exchange rate. This helps to minimize the shipowner losses through variations in the exchange rates. The currency adjustment factor is usually consolidated with the basic freight rate.

Currency and Bunker adjustment factor
The combination of the currency adjustment factor and bunker adjustment: factor.

Currency appreciation
A rise in the value/price of a currency in terms of others in an appreciating currency.

Currency at a discount
If the forward rate of a specified currency is higher than the spot rate: the currency is not at a premium but at a discount. An international trade banking term.

Currency at a premium
If the forward rate of a specified currency is lower than the spot rate the currency is at a premium. An international trade banking term.

Currency basket
A mix of currencies used as a reference unit of account in order to reduce the risks involved in trading in widely fluctuating single currencies by spreading it over several currencies. Also sometimes termed currency cocktail.

Currency borrowing
The process of an importer raising finance in a foreign currency by taking a loan in the same currency as that to be paid to an overseas supplier. Borrowing in a foreign currency may be cheaper than borrowing in the national currency depending on the relative interest rates prevailing. Foreign currency loans can help the importer expand or develop international business and various types of loans are available including fixed rate and floating rate loans.

Currency cocktail
A mix of currencies used as a reference unit of account in order to reduce the risks involved in trading in widely fluctuating single currencies by spreading it over several currencies. Usually termed a currency basket.

Currency deposits
If the importer knows that he will need foreign currency in the future, he could buy the currency at today's spot rate, and place it in a deposit account until the time when he requires it to make payment. By buying the currency now the importer lessens the exchange risk and can earn interest on foreign currency deposit which could be greater than the interest earned on an equivalent national currency deposit account operation in the importers country.

Currency depreciation
A fall in the value/price of a currency in terms of others is a depreciating currency.

Currency of a Bill
The period which must elapse before it is due to be paid.

Currency restrictions
Restrictions imposed by a Government on the 'out flow' and or 'in flow' of its national currency.

Currency swap
An agreement between companies or governments to exchange currencies for a specific period e.g. a UK company may provide a US company with sterling in exchange for dollars to cover a transaction, with both parties agreeing to reverse simultaneously the exchange at some future date.

Current cost
The calculated cost of acquiring goods for processing or resale, or of assets, at the time when their value is consumed by the entity, usually by some form of averaging or index.

Current rate
A term whereby the shipowner contracts to pay the current rate costs of loading and/or discharge.

Curtain sides
Moveable soft side curtains running on tracks fitted to open trailers, containers, or rigid vehicles allowing side access and loading.

Cusdel
The code name of a BIMCO approved charter party clause relative to customs duty in the coastwise duty and entitled Baltic Conference Customs Delay clause 1965.

Cushion tyres
Solid rubber tyres made of fairly soft rubber or composition.

Customary dispatch
The charterer must load and/or discharge as fast as is possible in the circumstances prevailing at the time of loading or discharging.

Customer awareness
The image created by the work force/entity/company in the market place as to how well or otherwise the customer needs are met. This may be to keep passengers closely informed on any service disruption situation, or develop through personal contact a courteous helpful attitude by staff at all levels at all times in any particular situation involving contact/communication with the customer.

Customer Billing
The process of dispatching accounts to clients for payment.

Customer Card
The case history of a particular client or Company.

Customer care
The process of looking after the needs of a customer. This may be dealing with the queries following delivery of some machinery, or providing adequate standards of passenger comfort and quality of service on ~ international passenger flight.

Customer Confidence
The confidence customers have in a product or service retailed in the market place. For example a transport service which offers a high standard of service, provides reliable service and generally creates an image of customer care, will tend to produce customer confidence in the market place.

Customer liaison
The process of liaising with the customer. This may be through an (Association, through a Consultative Committee, or through a Shippers Club as adopted by British Airways Freight clients.

Customer needs
The needs/provision required for the customer market. This may be through passengers on long distance inter city service, the provision of an 'on train” buffet/restaurant, or station catering facilities.

Customer orientated
A situation whereby the prime consideration is the needs of the customer/client. It maybe a cruise line whereby special provisions are made to provide passenger care in terms of catering, baggage, excursions ashore, entertainment, or a container service where customer liaison officers are appointed to deal with shippers needs/complaints thereby ensuring the customers needs are progressed quickly and effectively by the department concerned.

Customer Relations Manager
A managerial post responsible for maintaining good relations and a satisfactory public company image between the Company and its clients,

Customer Research
The systematic gathering/recording and analyzing of data of the behaviour of the buyer and reasons for his/her preference in terms of product benefits and brands. Buyer behaviour is influenced by social, psychological and economic variables.

Customer service
The service offered to the client/customer by the retailer/entity/company. It maybe in a supermarket with a wide range of products at competitive prices, or a railway service providing quality service throughout embracing punctual services, quality rolling stock, well appointed stations, public information, caring and courteous staff, and so on.

Customers own transport
A situation whereby the customer collects the merchandise from or deliV4 to the Container Freight Station/Container Base/Container depot/Inland Clearance depot/Seaport/Airport or other specified point.

Custom fence
The provision of a high fence of about three metres capped by barbed wire enclosing an area under customs surveillance. Such fences are usually found at seaports and airports.

Custom of the port
A term indicating a ship owner’s agreement for his ship to load or discharge as per the custom of the port i.e. at the ship owner’s risk and expense lay time being indefinite. Sometimes the term is combined with 'fast as can.'

Customs & Excise department
H.M. Government revenue collecting service under Treasury control.

Customs and Excise Management Act
UK legislation which contains the authority under which the Commissioners of H.M. Customs and Excise control the movement of goods into, and out of, the UK and collect revenue (duties).

Customs broker
An Agent specialising in 'inbound' customs clearance.

Customs cargo clearance
Process of clearing import/export cargo through customs examination, which may be at a seaport, airport, container base, or inland clearance depot.

Customs Clearance Agent
An Agent specializing in inbound customs clearance services at a CB, lCD, airport, seaport, or other specified area approved by the Custom Authorities.

Customs consignee
Equivalent to the term Customs Clearance Agent; it involves a Customs Broker or other Agent of the consignee designated to perform customs clearance services for the consignee.

Customs Co-operation Council
Based in Brussels, it is an inter-governmental organization of 83 member countries working for the co-operation, simplification, standardization and conciliation in Customs matters to attain harmony and uniformity.

Customs Co-operation Council nomenclature
The standard classification of goods for customs tariff purposes now adopted by most countries. It enables Customs to quickly identify the goods for statistical, duty, or clearance purposes, and is used for all goods subject to customs tariffs in international trade.

Customs duties
Revenue collected by Customs at time of exportation from duties imposed on various classes of goods.

Customs Entries
These are the means by which traders can pass to Customs details of all goods imported, or exported - now properly termed 'Export Declarations’.

Customs entry
Form on which importer/agent gives necessary details for ultimate customs clearance. An importer of goods into any country is required by law to give a declaration in respect of those goods to Customs. The normal method of making the declaration is by the completion of a special form (Customs Import Entry Form) issued by the Customs authorities. There are various types of Customs import entry forms. Information about the supplier of goods, the importer, the goods, shipment details, duty etc. are required on the form which must be completed by the importer or his authorized agent. Normally, completed entry forms must be presented at the appropriate Customs office within a prescribed time of the arrival of the importing ship, aircraft or vehicle. Customs entries can usually be presented before the expected arrival of the ship or aircraft although they should not be earlier than four working days. However, certain classes of goods are not accepted for entry prior to importation.

Customs House report
Report prepared by Master or Agent on ship arrival detailing cargo/passengers on board submitted to Customs House.

Customs Invoice
It is a document prepared by the exporter in accordance with the requirements of customs authorities in the country of the importer, serving the customs authorities of the importing country as a basis for establishing the customs value of the goods and for the calculation of the customs duty.

Customs Pre-entry Exports
All goods subject to Customs controls; goods subject to export licensing requirements; and all goods subject to official pre shipment documentation.

Customs Pre-entry - Imports
As a concession in many countries traders are allowed to present import entries to Customs shortly before the goods are due to arrive in order to facilitate rapid clearance of the goods.

Customs procedure
The process of presenting/lodging a consignment either for export or import with customs with a view to it being cleared either for shipment (export) or import purposes. It may be at a seaport, airport or inland customs depot

Customs tariff
Tariff detailing duty chargeable for specified imported cargo.

CUV
Construction unit value.

CIV
Certificate of value.

cv
Chief value; or career vitae.

CVGK
Customs value per gross kilogram.

CVGP
Customs value per gross pound.

CVMO
Commercial value movement order.

CVO
Certificate of value and origin; usually combined with the export invoice,

CWC
Country whence consigned.

CWDE
Centre for World Development Education.

CWE
Cleared without examination - a customs term.

cwo
Cash with order.

CWTB
Cylindrical water tube boiler (of a ship).

CWTBS
Cylindrical water tube boiler survey (of a ship).

CXBG
Comprehensive Extended Term Banker's Guarantee.

CY
Cyprus Airways. The Cypriot National Airline and member of IATA; container yard; or cylinders.

Cy
Currency; or cylinders.

CYCLD
Cycloidal Propeller (on a ship).

Cycle
In this context, usually a thermodynamic process, following the progress of the working medium (e.g. water/steam) from its starting point through the entire process. In a closed cycle, the working medium is returned to the starting point and re-used: in an open cycle, it is discharged.

Cymogene
A petroleum product, gaseous at ordinary temperatures but liquefiable by cold or pressure. It is classified as a hydrocarbon gas, liquefied, n.o.s. A term associated with movement of dangerous classified cargo.

Cyprus Airways
The Cypriot National Airline and member of IATA.

Czech Crown (Koruna)
The currency of Czechoslovakia. See Appendix 'C'.

Czech Crown (Koruna) invoice
An invoice payable in Czech Crown (Koruna) currency relative to an export sales contract.

Cyprus pound
The currency of Cyprus. See Appendix 'C'.

Cyprus pound invoice
An invoice payable in Cypriot pounds relative to an export sales contract.

Cash Collateral: refers to proceeds of asset liquidations including accounts receivable, inventory, machinery or equipment that is immediately due to lender in repayment of financing or cash advances under a revolving credit facility. Often a Cash Collateral account is created that is a deposit-only sweep account that receives proceeds and is netted against the lenders principal balances, fees and interest.

Circled: A transaction is said to be hard circled at the point when all intervening issues are resolved and participants are committed to close a loan. Verbal agreement may constitute a soft circle.

Clearance: Is the average number of days necessary for deposited checks to pass through a clearing house (decided by contract, usually 3 to 5 days). Asset based lines of credit often are negotiated with clearance days to indicate when funding occurs.  However, most remittances today are made by wire transfer so Clearance is usually very timely.

Client: Also referred to as the borrower, debtor or customer.

Collection Report (Remittance Report): Form used by client to itemize collections sent to the lender each day or other interval, and may be also included with BBR or BBC.

Collateral: Security offered by a client to obtain a loan. Collateral may include inventory, accounts receivable, equipment, securities, real estate, or certain other assets.

Collateral Control: Is unique to certain types of specialized firms that obtain leases to areas where collateral is located, stored or collected, respectively inventory, accounts receivable, or other “trading assets."?. In terms of inventory, it may entail bailment which is a third party collateral manager holding property of the client on behalf of the customer to secure lender in areas it controls. [See “Bailment"?]

Collateral Ratios: Is the ratio of a loan to collateral.  As an example an $800,000 loan to $1,000,000 in collateral would be .8:1.0 or 80¢ of loan for every $1 of collateral.

Commensurate Balances (Compensating Balances): Funds that a borrower is required to keep on deposit with a bank extending a loan. This may or may not be interest bearing.

Commercial Financing:  Are various types of asset based financial services in which money is loaned by a secured party to a client, pursuant to a loan and security agreement which gives the lender a security interest in specified types or items of collateral. Note that commercial financing is different from factoring. In commercial financing, the secured party is entitled in all events to be repaid the money loaned. In accounts receivable factoring, depending upon recourse, the secured party (the factor) takes a loss if a factored invoice is not collected due to insolvency. If the account debtor becomes insolvent, the factor assumes the credit risk on that particular account debtor or invoice.

Commitment Fee: A fee from a lending institution as consideration for its undertaking to make a loan to a prospective borrower, charged when the borrower meets the preconditions specified in the commitment. Depending on the terms of the deal, a commitment fee may be non-refundable or it may be credited upon closing the loan.

Concentration (Jumbo Account) Ratio: The percentage of total receivables billed to single debtor. Normally there are limitations to this percentage that may be 30-60% depending upon the interpretation of lender.

Consignment Sale: A sale of merchandise to a buyer by a middleman in which title passes directly from the owner to the buyer. The owner expects payment only on completed sales, and unsold items may be returned by the middleman to the owner. In collateral management, it is important to carefully track and even segregate these consignment goods.

Contra: An account created when a company both buys from and sells to the same client and, therefore, has payables and receivables which offset. This is an item collateral management tracks carefully since it can affect net collectable receivable balances.

Conversion: A client's unauthorized deposit of collections of accounts assigned to a lender. Normally care is taken by lender or third party collateral managers to segregate collections into deposit-only accounts.  In a bankruptcy, use of these frozen funds requires a hearing for their release to customer usually associate with post bankruptcy petition financing.

Credit Insurance: a policy owned by a client that protects it against losses due to insolvency or protected default of account debtors.

Cross Aging: When past due receivables exceed a given percentage of a debtor's total accounts receivable, the current portion of receivables is also classified as ineligible. This amount has ranged from 40-60% but is defined in the lending agreements.

Dating: Are terms of sale which extend the period within which the debtor is to make payment. Example: Normal terms are Net 30 Days. On a bill for merchandise shipped September 15, a bill is dated "as of November 15" making payment due December 15. This requires close scrutiny of the lender or the third party collateral manager.

D
Delivery, delivered, diagonal engines, or Director.

d
Dry-bulk containers.

D/A
Deposit account, discharge afloat; days after acceptance; double acting (machinery); or documents against acceptance (insurance).

DA
Dan Air - a UK airline; or Defence Attache (Embassy)/Defence Advisor (High Commission).

DAC
Development Assistance Committee - based in Paris under the aegis of OECD.

DAF
Delivered at frontier (named point); cargo delivery term.

DAGAS
Dangerous Goods Advisory Service.

DAIICHI
Daiichi Chuo Kisen Kaisha (Japan) - a shipowner.

Dalasi
The currency of Gambia. See Appendix 'C'.

Dalasi invoice
An invoice payable in the Dalasi currency of Gambia relative to an export sales contract.

Damage report
Surveyor's report on ship and cargo damage and its causes.

Damp proof
Material which resists penetration by moist air.

Dammum sine injuria (Latin)
Injury without breach of a legal right.

Dan Air
A United Kingdom airline.

Dangerous cargo
Merchandise classified as dangerous for which stringent regulations exist regarding its acceptance procedure, packaging, stowage, documentation, and conveyance for both local and international transits by road, rail, air and sea. There are some nine classifications of dangerous goods for international transits by sea and air. The regulations, documentation acceptance procedures, packaging, and stowage arrangements are laid down by IMO (sea) and IATA (air) in regard to their respective transport modes.

Dangerous cargo compound
An area which accommodates/stores dangerous cargo awaiting shipment or inland distribution at a seaport or airport. It is under strict surveillance.

Dangerous goods authority form
A document issued by the shipowner bearing a reference number giving the sailing details including port of departure and destination on which the consignment is authorized; the hazard; UN number labels; Key number (for emergency in event of any incident, spillage etc.); and any special instructions (i.e. special Department of Trade approved or restrictions on stowage, i.e. on deck only (passenger ship), freight vessel only etc.). It is often referred to as a 'stowage order'. The Master has the right to refuse to ship dangerous classified cargo if the circumstances warrant such a decision.

Dangerous Goods declaration
The documentation involved in the shipper's declaration of the dangerous classified cargo.

Dangerous Goods Note
A multi purpose document used for any combination of surface modes of transport valid for the whole journey involving a dangerous classified cargo transit. The document combines the function of application for stowage space on the transport unit(s); the dangerous goods declaration; the special stowage order; the container/vehicle packing certificate; the standard shipping note and finally the 'back up' document for the forwarder/haulier.

Dangerous Goods rate
The tariff applicable to the conveyance of dangerous classified cargo which is usually up to fifty per cent above the basic commodity/general cargo rate.

Dangerous Goods regulations
Regulations determining the criteria/arrangements under which goods classified as dangerous are conveyed and packaged on a particular transport mode such as by road, rail, air, and sea transport. This involves ADR by road; RID by rail ; IATA by air, and IMO by sea transport for international transits.

Danish Crown (Krone)
The currency of Denmark. See Appendix 'C'.

Danish Crown (Krone) invoice
An invoice payable in the Danish Crown (Krone) relative to an export sales contract.

Danish Shippers Council
The organisation in Denmark representing the interest of Danish shippers in the development of international trade.

DANPRO
Danish Committee on Trade Procedures.

Data
Information provided for a particular circumstance. This term is much used in computerisation and represents the information fed into the computer network. See other entries relative to data carrier, data entry and so on.

Database
A file designed to allow the information it holds to be obtained in several ways, for example, information on an employee could be obtained by quoting his name, or address, or National Insurance Number, or works number, or age. It is a file not just designed to satisfy a specific, limited application, but forms a pool of cross-referenced information from which the computer can draw on. It is basically an electronic library. A computer term.

Data carrier
Medium designed to carry records of data entries. A means of transferring information from one point to another.

Data conversion
The conversion of data held in one form into another, for example, from hand-written form onto punched card.

Data entry
Data entered on a data carrier.

Data field (Syn Box)
An area designated for a specific data entry.

Data file
Group of related data - carriers, clients etc. (Records) etc.

Data Freight Receipt
A document issued by a shipowner which acts as a receipt for the Cargo shipped and evidence of the contract of carriage, but unlike the Bill of Lading it is not a document of title or negotiable instrument. It is often referred to as a Sea Waybill.

Data input
The provision (input) of data into a computer system.

Data plate
Identification plate placed suitably on the container, road trailer, railway wagon to carry detail of cargo and transport unit, e.g. actual gross weight net tare weight.

Data post
A specially designed British Post Office service programmed to provided the businessman with a preferential system for delivering packets overnight operates both a National and International service.

Data processing
The recording and processing of information for commercial computerized tasks.

Data processor
A device capable of performing data processing including a desk calculator, punch card machine, computer, or a person.

Data sharing
The use by several systems of the same information from the same file. A computer term.

Davits
Light cranes on ship's sides for lowering and lifting boats.

Day
A continuous period of 24 hours which, unless the context otherwise requires, runs from midnight to midnight in a charter party.

Days of grace
Days allowed by law or custom for payment of Bills of Exchange (except those payable at sight or on demand) after specified day of payment.

Day Order
Orders placed during a trading session for execution on the same day BIFFEX term.

DB
Double bottom; double-ended (boilers); or deals and battens (timber).

dB
Decibel.

dbb
Deals, battens, boards (timber).

DBB
Deals, battens, boards (timber).

DBe
Double bottom centre.

dbe
Dispatch money payable both ends (loading and discharging ports).

DBEATS
Dispatch payable both ends (loading and discharging ports) all time saved.

DBELTS
Dispatch payable both ends (loading and discharging ports) on lay time saved.

Dbk
Drawback.

DBP
Development Bank of the Philippines.

DBS
Distressed British Seaman; or Development Bank of Singapore.

de
Direct current.

DIe
Deviation clause.

DCA
Debt collection agency; Department of Civil Aviation (Burma); or Dept. of Civil Aviation (Singapore).

DeD
Data post on demand.

DeF
Discounted cash flow.

Deo
Debt collection order.

DCP
Freight or Carriage paid to (named point) - a cargo delivery term. This is the container equivalent of the Cost and Freight. An INCO term.

DCS
Departure control system - IATA term.

Dd
Delivered.

Dd
Delivered docks - indicates that the seller of the goods pays all charges to the named docks; or days after date.

DD
Delivered at docks; demand draft; or dry docking.

diD
Dispatch money payable at half demurrage rate.

DDA
Duty (Customs) deposit account.

ddc
Dispatch money payable in respect of time saved at the discharging port only.

DDE
Direct data entry.

DDO
Dispatch discharging only - discharge money payable on time saved during discharge.

DDP
Delivered duty paid - cargo delivery term.

DDR
Direct debit.

D-E
Diesel-electric (machinery); Department of Employment – an HM Government department; or Diesel-electric engine.

Deadfreight
Freight to be paid for shipping space by a shipper or charterer on a vessel for which a reservation had been made and which was not used be~ goods remained unshipped. The shipowner is paid a sum in lieu of the freight earnings lost.

Dead heading
The return of empty containers.

Deadweight
Vessel carrying capacity viz. fuel, stores, water, crew, based on 1,000 kgs to deadweight tonne.

Deadweight all told
Total carrying capacity in weight terms (metric tonnes) of a vessel including cargo, fuel, stores, fresh water and so on. It is expressed in tonnes. See tonnage entry.

Deadweight cargo
Cargo which is measured by weight avoirdupois, in contrast to measurement by dimensions/volume. Heavy cargoes such as coal, ore etc, which measure less than 1.133m3 per tonne weight (1,000 kg) are described as dead weight and freight is paid on the weight in tonnes.

Deadweight tonnage
The number of tonnes weight (1,000 kg to a tonne) of cargo, stores, bunkers, fresh water, passengers and crew on board a ship permitted to be carried and in so doing bring the vessel down to her load line/marks.

Debenture
A formal acknowledgement of a debt, usually incorporating a charge over the unencumbered assets of the company issuing it; the rights of debenture holders rank before those of shareholders and unsecured creditors in the, event of the issuer's liquidation.

Debit note
A document prepared by the purchaser notifying the seller that his (the sellers) account has been reduced by a stated amount because of an allowance, return of goods or cancellation; or a bill issued to advise the insured of the premium due. Sometimes the cover note and the debit note are combined in one document a cover/debit note - an insurance definition.

Debit ratio
The process of dividing the total liabilities by the total assets results in the debit ratio. The ratio shows the portion of the total assets financed by debt.

De bonis non administratis (Latin)
Property left unadministered.

De-briefing
The process of appraising/informing a person(s) the outcome of a particular enquiry/meeting such as the Sales Director telling all his sales representatives the outcome of a Board meeting.

Debt - bad
A person or entity who owes money, the likelihood of which complete recovery is slight as the person/entity is in the hands of the receiver/liquidator.

Debt Collection Agency
An Agency which specialises in the process of collecting debts.

Debt-equity ratio
The ratio of a company's ordinary share capital to its fixed interest capital, including debentures, loan stock, and preference shares; calculations are often simply based on the ratio of ordinary shares plus retained reserves to prior charge capital.

Debt factoring
The sale of debts to a third party (the factor) at a discount, in return for prompt cash.

Debtor
A person or an entity who owes money.

DECCAN
Deccan Shipping Ltd. (India) - a shipowner.

Deck boy
A boy with less than nine months sea service in ship's deck department.

Deck cargo
Cargo shipped on open deck.

Deck cargo certificate
Manifest of cargo shipped on open deck.

Deck department
Vessel's crew department responsible for navigational aspects of ship operation; or a shore based department responsible for upkeep of vessel and her equipment excluding machinery.

Deck fitting
Fitting that connects securing equipment to ship's structure.

Deck line
Horizontal line marked amidships on each side of the ship.

Deck load
Cargo stowed on open deck.

Deck
Platform on a ship covering the whole or part of the hull area at any level.
See also tonnage deck, upper deck, entries.

Declaration of origin
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 other document relating to the goods.

Declared value for carriage
The value of goods declared to the carrier by the consignor for the purpose of fixing the limit of the carrier's liability for loss, damage, or delay to cargo. It is also the basis for possible applicable valuation charges. It is particularly common to air freight consignments as under the terms of the Warsaw Convention a carrier’s liability is limited per kilogramme on any air freight consignment. By declaring the higher value, the shipper can increase the carrier’s liability.

Declared value for Customs
The value of the goods for Customs purposes.

De die in diem (Latin)
From day to day.

Deductible
In marine insurance terms an amount of percentage specified in a policy, which is deducted from partial loss claims.

Deep Sea Broker
A person who will normally act for either the shipowner or merchant, negotiating with a fellow broker for the other side.

Deep Sea Shipping Lane
A charted shipping navigation route specially provided for ocean going vessels. Such vessels would fall within the draught range of 10 metres to 24 metres.

Deep water berth
A berth at a port accommodating ocean going vessels. It may be an oil tanker, iron ore carrier, passenger liner, container ship and so on.

Deep water harbour
A harbour offering deep water facilities including deep water berths thereby being able to accommodate vessels up to 20m draught.