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Advisory Capacity
Term indicating that agent or representative is not empowered to make definitive decisions or adjustments without approval of the group or individual represented. Without Reserve
Aeroquip System
Special accessories in a container consisting of, among other things, the attachment rails on the inside walls to provide facilities for lashing and securing of the cargo.  
Affreightment
Contract which sets forth the obligations of both shipper and carrier concerning transportation of the merchandise. The most common forms of affreightment are Bills of Lading and Waybills.  
Aft
At, near or towards the stern or rear of a vessel or an aircraft.  
Agency Fee
Fee payable by shipowner or ship operator to port agent.  
Agent
A company (or person) which does business on behalf of another company based on a contractual agreement.  
Aggregate Inventory
Inventory for any group of items or products, involving multiple stock-keeping units. Synonym: Aggregate Stock  
Air Commuter
Airline operating regional passenger traffic.  
Air Consignment Note
Air Waybill Air Waybill
Air Waybill
Abbreviation: AWB. Document used for carriage by air, evidencing the conclusion of a contract of carriage. This is a non-negotiable document of air transport that serves as a receipt for the shipper, indicating that the carrier has accepted the goods listed and obligates itself to carry the consignment to the airport of destination according to specified conditions. Consignment NoteBill of LadingThrough Bill of Lading
All Risk
Abbreviation: A.R. Broadest form of insurance cover available, providing protection against all risks of physical loss or damage from any external cause. Does not cover loss or damage due to delay, inherent vice, pre-shipment condition, inadequate packaging or loss of market. ICCNamed Perils Policy
Allotment
Share of the capacity of a means of transport assigned to a certain party, e.g. a carrier or an agent, for the purpose of booking cargo for a specific voyage. Reservation
Alongside
Phrase referring to the side of a ship. Goods to be delivered "alongside" are to be placed on the dock or barge within reach of the transport ship's tackle so that they can be loaded aboard the ship. Free Alongside Ship (... Named Port of Shipment)
Annual Policy
Designed for clients with a small turnover of Goods in Transit. A deposit premium is paid and this is adjusted at the end of the year based on declarations made.  
Apparel
1. A vessel's outfit, such as rigging, anchor and life boats. 2. The term used in distribution/transport of clothing for a single piece of clothing - a garment.  
Approved Continuous Examination Program
Abbreviation: ACEP. Agreement between the owners of the equipment and the responsible government body to allow continuous examination of the equipment (e.g. containers).  
Approved Vessel
Vessel which the underwriters deem adequate to carry the insured cargo, at the agreed rate of premium. Where the vessel is not approved, the risk is still covered but is subject to a reasonable additional premium.  
Apron
Platform
Arbitrage
Buying of foreign exchange, securities, or commodities in one market and the simultaneous selling in another market. By this manipulation a profit is made because of the difference in the rates of exchange or in the prices of securities or commodities involved.  
Area Code
Code specifying an area. Zone Improvement Plan
Arrival Notice
Notice sent by a carrier or freight forwarder to notify party advising the arrival of a shipment.  
Articles Dangereux de Route
Abbreviation: ADR. European agreement concerning the international carriage of dangerous goods by road.  
Assembly
Stage of production in which components are put together into an end product.  
Assignment
Transfer of the rights, duties, responsibilities and/or benefits of an agreement, contract, or financial instrument to a third party.  
Assignment of Proceeds
Stipulation within a Letter of Credit in which some or all of the proceeds are assigned from the original beneficiary to one or more additional beneficiaries.  



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