Glossary

Referring to cargo being put, or laden, onto a means of conveyance.

One carrier assumes the charges of another without any increase in charges to the shipper.

– A time draft (or bill of exchange) that the drawee (payer) has accepted and is unconditionally obligated to pay at maturity. – Broadly speaking, any agreement to purchase goods under specified terms.

Charges that are applied to the base tariff rate or base contract rate, e.g., bunkers, container, currency, destination/delivery.

When a bill of lading is accepted or signed by a shipper or shipper’s agent without protest, the shipper is said to acquiesce to the terms, giving a silent form of consent.

A written receipt in full, in discharge from all claims.

U.S. Customs’ master computer system, “Automated Commercial Systems.” Now being replaced by the Automated Commercial Environment system.

An act beyond human control, such as lightning, flood or earthquake.

A term from Latin meaning, “according to value.” Import duty applied as a percentage of the cargo’s dutiable value.

A representative of a government commission or agency vested with power to administer oaths, examine witnesses, take testimony, and conduct hearings of cases submitted to, or initiated by, that agency. Also called Hearing…