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Open Account
Abbreviation: O/A. Trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment. The obvious risk this method poses to the supplier makes it essential that the buyer's integrity be unquestionable. The transaction is payable when specified (i.e., R/M return mail; E.O.M. end of month; 30 days - 30 days from date of invoice; 2/10/60 - 2% discount for payment in 10 days, net if paid 60 days from date of invoice). If no term is specified O/A usually implies payment by return mail.  
Open Insurance Policy
Marine insurance policy that applies to all shipments made by an exporter over a period of time rather than to one shipment only.  
Open Order
Open Position
Exposure to a foreign-exchange risk not covered by an offsetting transaction.  
Open-Sided Container
Shipping container with frames of wire mesh at the sides covered by means of a tarpaulin which can be dropped down to give unrestricted access to the sides of the container for loading or discharging.  
Open-Top Container
Shipping container similar in all respects to a general purpose container except that it has no rigid roof but may have a flexible and movable or removable cover, for example one made of canvas or plastic or reinforced plastic material normally supported on movable or removable roof bows.  
Operating Efficiency
Ratio of the actual output of a piece of equipment, department, or plant as compared to the planned or standard output.  
Party responsible for the day-to-day operational management of certain premises such as warehouses, terminals and vessels.  
Optimal Trim
Best calculated trim related to speed engine capacity, fuel consumption for a specific sailing condition.  
Achieving the best possible solution to a problem in terms of a specified objective function.  
Optional Cargo
Cargo of which the final destination is not defined at the moment of departure of the vessel, but will be indicated during the voyage.  
Optional Port
Port of which it is not known whether or not it will be called by a vessel during a voyage.  
Optional Stowage Bill of Lading
Bill of Lading which gives the carrier the right to stow cargo wherever they see fit, especially with respect to the stowage of containers on deck.  
Request to deliver specified quantities of goods or to render specific services.  
Order Bill of Lading
Negotiable Bill of Lading made out to the order of a named party.  
Order Line
Each line on a customer's purchase order. An order line always contains one Stock Keeping Unit (SKU) only, but the number may vary.  
Original Equipment Manufacturers
Abbreviation: OEM. Customers who incorporate the exporter's product into their own merchandise for resale under their own brand names.  
Out of Gauge Cargo
Cargo of which dimensions exceed the normal dimensions of a 20- or 40-feet container, e.g. overlength, overwidth, overheight, or combinations thereof.  
Shipping line, which operates on a route served by a liner conference but which is not a member of that conference.  
Outturn Report
Written statement by a stevedoring company in which the condition of cargo discharged from a vessel is noted along with any discrepancies in the quantity compared with the vessel's manifest.  
Outward Handling
Operations to be performed on outgoing goods from a production unit, both administrative and physical, starting at the moment forwarding orders can be executed to the moment of actual departure of the goods.  
Over Pivot Rate
Rate per kilogram to be charged for the over pivot weight (air cargo). Pivot Weight
Over Pivot Weight
Weight in excess of the pivot weight (air cargo). Pivot Weight
Overage Additional Premium
All additional premiums charged on an open cover declaration where the carrying vessel is outside the scope of the classification clause. It may be applied, also, to additional premium charged for breach of navigational warranties (e.g. institute warranties) where the ship is more than 15 years old.  
Carrier within a consortium which carries cargo beyond the allotment distributed to them. Undercarrier

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