Pilferage

Pilferage in International Trade

Meaning of Pilferage, according to the Dictionary of International Trade (Global Negotiator): As used in marine insurance policies, the term denotes petty thievery-the taking of small parts of a shipment-as opposed to the theft of a whole shipment or large unit. Many ordinary marine insurance policies do not cover against pilferage, and when this coverage is desired it must be added to the policy.