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Bank Release
Negotiable time draft drawn on and accepted by a bank that adds its credit to that of an importer of merchandise.  
Banker's Acceptance
"Time draft" drawn on a bank and bearing the bank's promise to pay at a future date.  
Banking System
For marine purposes the practice of always keeping more than one piece of cargo on the quay or in the vessel ready for loading or discharging in order to avoid delays and to obtain optimal use of the loading gear.  
Bar Coding
Method of encoding data for fast and accurate electronic readability. Bar codes are a series of alternating bars and spaces printed or stamped on products, labels, or other media, representing encoded information which can be read by electronic readers, used to facilitate timely and accurate input of data to a computer system.  
Bareboat Charter
Charter whereby the charterer leases the bare ship and appoints the master and crew itself.  
Barge
Flat-bottomed cargo transport vessel designed for canals, rivers and shallow waters with or without its own propulsion. Lighter
Barratry
Unlawful act or fraudulent breach of duty on the part of a master of a ship or of the mariners resulting in the injury of the owner of the ship or cargo.  
Barter
Trade in which merchandise is exchanged directly for other merchandise without use of money. Countertrade
Basic Stock
Items of an inventory intended for issue against demand during the re-supply lead time. Lead Time
Batch
Collection of products or data which is treated as one entity with respect to certain operations (e.g. processing and production).  
Batch Production
Production process where products/components are produced in batches and where each separate batch consists of a number of the same products/components.  
Bay
Vertical division of a container vessel from stem to stern, used to indicate stowage places for containers. The numbers run from stem to stern; odd numbers indicate a 20-foot position, even numbers indicate a 40-foot position. Cell Position
Bay Plan
Stowage plan which shows the locations of all the containers on the vessel.  
BC Code
Bulk Cargo CodeSegregation
Belly
Under-floor area of an aircraft. Hold Space
Benchmarking
Measurement and comparison against a standard, of efforts and results in the business process (e.g. input, output, reliability, quality and customer satisfaction).  
Beneficiary
Entity or person on whom a Letter of Credit has been opened or a draft has been drawn. Assignment of ProceedsTransferable Letter of Credit
Benefit of Insurance Clause
Clause by which the bailee of goods claims the benefit of any insurance policy effected by the cargo owner on the goods in care of the bailee. Such a clause in a contract of carriage issued in accordance with the Carriage of Goods by Sea Act is void at law.  
Berth
Location in a port where a vessel can be moored, often indicated by a code or name. PierQuayWharf
Bilateral Trade
Commerce between two countries, usually in accordance with specific agreements.  
Bilateral Transport Agreement
Agreement between two nations concerning transport relations.  
Bill of Exchange
Draft
Bill of Lading
Abbreviation: B/L. Document that establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified charge. Usually prepared by the shipper on forms issued by the carrier, it serves as a document of title, a contract of carriage, and a receipt for goods. Air WaybillOcean Bill of LadingThrough Bill of Lading
Bill of Lading Clause
Particular article, stipulation or single provision in a Bill of Lading.  
Bill of Material
List of all parts, sub-assemblies and raw materials that constitute a particular assembly, showing the quantity of each required item.  



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