In general, any treaty, protocol, or understanding between two nations. The term has particular application in the area of commercial air transportation, where a bilateral agreement is an understanding between two countries permitting the commercial aircraft of one nation to land in and carry […]
An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g…
Summary of Asian Development Bank
A multilateral development bank formed in 1966 to provide capital to Asian and Pacific countries to expand their economic infrastructure and industrial base. Capital is contributed to the bank by its members, which include both regional, i.e., Asian, and […]
A minimum import price for commodities established under the common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, set so as not to hamper sales of EEC pro…
Carriage Of Goods By Sea Act Summary of Carriage Of Goods By Sea Act
Known commonly by the acronym COGSA, the principal U.S. statute governing carrier liabilities and immunities for loss and damage arising during the transport of goods by water in the foreign commerce of the United States. […]
Contract Of Affreightment Summary of Contract Of Affreightment
A contract, between the shipper of goods and a transport company, specifying the terms and conditions under which a given lot of merchandise is to be moved. The contract is usually evidenced by a bill of lading containing the […]
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Bill Of Lading Summary of Bill Of Lading
A document issued by a carrier to a shipper acknowledging receipt of the goods, and stating the points of pick-up and delivery, as well as other information relative to value declared for carriage, terms and conditions of transport, freight charges, […]
Railway Consignment Note in International Trade Meaning of Railway Consignment Note, according to the Dictionary of International Trade (Global Negotiator): A freight document indicating that the goods have been received for shipment by rail. The railway consignment note is a rail contract […]
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Summary of Per Diem
A daily charge levied by the owner of transport equipment for its use.
(Main Author: William J. Miller)
Resources See Also Wage Wages Salary Minimum Wage Fair Labor Salaries
In relation to Inter-American Treaties, Conventions and Agreements adopted within the framework of the OAS The Organization of American States (a list of Members of the Organization of American States is here) adopted the following international instruments regarding International […]
Foreign Direct Investment in International Trade Meaning of FDI (Foreign Direct Investment), according to the Dictionary of International Trade (Global Negotiator): The controlling ownership in a business enterprise in one country by an entity based in another country. According to balance of […]
A method of transporting goods partially by land and partially by water as a substitute for all-water movements. Originated in the mid 1960s as a means of moving European-Far East cargoes across the United States during the interruption of Suez Canal service, the concept of land- bridge has […]
An international agreement designed to speed international cargo movements across third countries en route to final destination. Originally established in 1949 as a means of speeding European road transportation, the convention now applies to other modes of transport as well. Basically, each […]
An employee of a steamship line or stevedoring firm responsible for the examination of cargo delivered to the pier for onward transport. Routinely, the checker ascertains the count and condition of the goods so delivered and issues a receipt for same, noting the date and time of delivery….
A proposed international convention dealing with carrier liability for loss or damage to cargo transported by sea. Known formally as the United Nations Convention on the Carriage of Goods by Sea 1978, the convention was the product of a conference held at Hamburg, Federal Republic of […]
A condition in transportation under which the carrier has no responsibility to load or unload the vessel, barge, or other conveyance. The shipper is obliged to stow the cargo, and the consignee to effect unloading; loading and unloading expenses may be borne by either the shipper or the […]
A private company that serves as the export department of other firms, usually small- and medium-size manufacturers. An EMC will provide a variety of services for its clients, to include locating customers abroad, arranging transportation and financing for the merchandise, developing foreign […]
A document issued by an airline as a receipt for cargo and contract of carriage between the carrier and shipper. An air waybill is the effective equivalent of a bill of lading, except that it lacks the feature of being issued in negotiable form. Two types of air waybills are commonly used. A […]
A clause in a basic marine cargo insurance policy restricting settlements in the case of partial losses attributable to perils of the sea or incidents where the vessel has been sunk, burned, or stranded during the course of the voyage. An F.P.A. policy provides the most limited coverage. The […]
An agency of the U.S. Department of Transportation assigned the task of promoting the American Merchant Marine.MARAD was established in 1950 and pursues its objective through various programs, including ports and intermodal systems development, research and development in vessel and equipment design…
A basis for assessing duties predicated upon the wholesale price of the imported product (or a like domestic product if the value of the imported product cannot be ascertained), less normal markups, transportation costs, insurance, and duties. This method of valuation has been supplanted by the cust…
Costs associated with the movement of goods from one country to another. Transfer costs may be divided into two categories: physical transfer (i.e., transportation and handling) and governmental regulations (e.g., duties and exchange controls)….
The act whereby goods are transferred from one transport vehicle to another; for example, cargo may be removed from an ocean container at a port and reloaded into a rail trailer for movement to an interior point….
The carriage of one ton (two thousand pounds in the United States) of cargo for one mile; used to measure quantity of cargo transported by a carrier or group of carriers (usually rail or motor) within a given time span….
The common name for the Through Transport Mutual Insurance Association Limited, a mutual insurance fund of firms in the container or unit load industry. The insureds are member firms, and the membership is derived from three main groups: vessel owners and charterers, container terminal operators, an…
A form of countertrade (read this and related legal terms for further details) by which the parties trade off goods that each controls at various locations so as to eliminate or mitigate transportation costs….
A document issued, usually in booklet form, by a Common Carrier (read this and related legal terms for further details) listing its charges for transportation services. Commonly, the rate, or cost of transportation, vari…
A pier where goods may be stored temporarily, exempt from taxes or duties, while awaiting transport to another destination or clearance through customs….
A notation on the face of a Bill Of lading (read this and related legal terms for further details) that indicates a defect in the cargo or its mode of transport. Such notations include "received in damaged condition…
A program established under authority of the Energy Policy and Conservation Act of 1975 that directs the U.S. Department of Energy to build a buffer stock of petroleum to insulate the United States against an interruption of foreign supplies. The act mandates a reserve of 750 million barrels by the…
A bill of lading (read this and related legal terms for further details) that, unlike the conventional, or long form, document, does not include the full terms and conditions of transport but only refers to them….
A low-bed trailer used to carry containers, machinery, and similar cargo, usually on a pier-to-pier basis in conjunction with Roll-On Roll-Off (read this and related legal terms for further details) vessels. These traile…
The act of locating a manufacturing facility near its source of raw materials. It usually occurs in cases where the cost of transporting the raw materials significantly exceeds the cost of transporting the finished product. See Marketing Orientation, Weight Gaining, Weight Losing….
Refrigerated transport equipment, such as refrigerated containers, cars, or trucks….
Emergency supplies, including food, blankets, medicines, and vehicles for transport of such supplies, destined to aid victims of natural disasters, famines, or other catastrophes. Customs authorities are pledged to accelerate the release of such items….
A railroad flatcar, usually eighty-five feet long, with several levels, used to transport automobiles. Also, a railcar with racks at either end used to transport pulpwood. …
A freight rate that is constructed by adding separate joint or local rates applying to a through movement. A proportional rate, unlike a Combination rate (read this and related legal terms for further details), is applic…
A spot commodity market dealing in a local producing area. Ordinarily such markets develop around local transportation centers….
A branch of business management concerned with past product logistics, i.e., those functions that relate to the movement of goods from one place to another. Among those areas generally ascribed to physical distribution are transportation, material handling, warehousing, inventory control, packaging,…
A service offered by railroads to compete with pure trucking. A trailer (pig) is detached from the power unit in a railyard and placed aboard a flatcar for transport to the destination city, where a power unit is again attached to the trailer for final delivery to the consignee….
A unit of value, created by the Raymond Poincare' government of France in 1928, used largely in connection with international transportation conventions, equivalent to 65.5 milligrams of gold nine-tenths fine….
Generally, a unit of cargo tendered by a shipper to a common carrier for onward transportation. The term is not explicitly defined. It attains its greatest significance within the meaning of the Carriage of Goods by Sea Act. The act (46 U.S.C. A. Sec. 181) stipulates: Neither the carrier nor the shi…
Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go…
A common carrier providing point-to-point international transport of goods. This type of carrier, commonly known as NVOCC, may not actually operate any transport equipment, acting instead as a coordinator among actual carriers. For example, an NVOCC might issue a bill of lading from Saint Louis to M…
A bill of lading that provides for carriage of goods by more than one mode of transport (i.e., water, air, rail, motor), unlike a combined transport bill of lading, in which the issuer of the bill assumes responsibility for the goods through to destination. The multimodal bill may leave each carrier…