Glossary

A certificate issued by an independent agent or firm attesting to the quality and/or quantity of the merchandise being shipped. Such a certificate is usually required in a letter of credit for commodity…

Successive shipments are permitted under letters of credit. Usually they must take place within a given period of time.

A container insulated on the walls, roof, floor, and doors, to reduce the effect of external temperatures on the cargo.

The frame of a container constructed to hold one or more thermally insulated tanks for liquids.

This type of clause covers merchandise if the damage amounts to three percent or more of the insured value of the package or cargo. If the vessel burns, sinks, or collides, all losses…

This type of insurance offers the shipper the broadest coverage available, covering against all losses that may occur in transit.

In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo.Those sharing in the spared cargo proportionately cover the loss.

A Marine insurance term which refers to partial loss on an individual shipment from one of the perils insured against, regardless of the balance of the cargo. Particular–average insurance can usually be obtained,…

A location where one carrier delivers freight to another carrier.

Water service between two coasts; in the U.S., this usually refers to water service between the Atlantic and Pacific or Gulf Coasts.