Hold On Dock

Summary of Hold On Dock

An accommodation sometimes provided by a port authority or steamship line to a shipper who wants to release merchandise from his warehouse but may not be able to put it to sea. This condition is common in the case of an exporter who sells on an FAS or FOB pier basis; by delivering goods to the pier for future shipment, he can book sales while not actually dispatching the goods to his customer prematurely. This practice has been challenged as an improper inducement and is not as common as in the past.

(Main Author: William J. Miller)