Glossary

A draft to which no documents are attached.

A draft that matures on a fixed date, regardless of the time of acceptance.

A time draft under a letter of credit that has been accepted and purchased by a bank at a discount.

A draft payable on demand upon presentation.

A draft that matures at a fixed or determinable time after presentation or acceptance.

A partial refund of an import fee. Refund usually results because goods are re–exported from the country that collected the fee.

The individual or firm that issues a draft and thus stands to receive payment.

Charge made for local hauling by dray or truck. Same as Cartage.

DRFS Abbreviation for “Destination Rail Freight Station.” Same as CFS at destination, except a DRFS is operated by the rail carrier participating in the shipment.

Cargo that is not liquid and normally does not require temperature control.