Glossary

Any ship which is required to be equipped with radiotelecommunication equipment in order to comply with the radio or radio-navigation provisions of a treaty or statute to which the vessel is subject.

Damage that is not evident from viewing the unopened package.

An association of ship owners operating in the same trade route who operate under collective conditions and agree on tariff rates.

A letter of credit, issued by a foreign bank, whose validity has been confirmed by a domestic bank. An exporter with a confirmed letter of credit is assured of payment even if the…

The bank that adds its confirmation to another bank’s (the issuing bank’s) letter of credit and promises to pay the beneficiary upon presentation of documents specified in the letter of credit.

A carrier which has a direct physical connection with, or forms a link between two or more carriers.

A connecting carrier agreement is a contract between the originating carrier and a second party, where the second party agrees to carry goods to a final destination on a through Bill of Lading.

A person or company to whom commodities are shipped.

A symbol placed on packages for identification purposes; generally a triangle, square, circle, etc. with letters and/or numbers and port of discharge.

(1) A stock of merchandise advanced to a dealer and located at his place of business, but with title remaining in the source of supply. (2) A shipment of goods to a consignee.