Terms Beginning with A
AD HOC CHARTER:
A one-off charter operated at the whim of the airline or charter.
ADVANCE AGAINST DOCUMENTS: A loan made on the security of the
documents covering a shipment.
ADVISING BANK: A bank operating in the exporter's country
that handles letters of credit for a foreign bank by notifying the
exporter that the credit has been opened in his favor.
ADVISORY CAPACITY: A term indicating that a shipper's agent
or representative is not empowered to make definitive decisions or
adjustments without approval of the party represented.
AFFREIGHTMENT, contract of: An agreement by a steamship line
to provide cargo space on a vessel at a specified time and for a
specified price to accommodate an exporter or importer, who then
becomes liable for payment even though he is later unable to make
the shipment.
AGENCY AGREEMENT: An agreement where a steamship line
appoints the steamship agent and defines the specific duties and
areas of responsibility of that agent.
AIR FREIGHT FORWARDER: A type of freight forwarder who
specializes in air cargo. The forwarder usually consolidates the air
shipments of various exporters, charging them for actual weight and
deriving profit by paying the airline the lower consolidated rate.
The forwarder issues its own air waybills to the exporters and has
the status of an indirect air carrier.
AIR WAYBILL: A non-negotiable contract for carriage of air
transportation between an air carrier and a shipper or an air
carrier and an airfreight forwarder. In the latter case the
forwarder, as an indirect air carrier, issues his own house air
waybill to the shipper.
AIRLINE PALLET: Load carrying platform to which loose cargo
is secured before placing aboard an aircraft.
ALL RISK CLAUSE: An insurance provision that all loss or
damage to goods is insured except that of inherent vice (Self
Caused)
ALL RISK INSURANCE: A clause included in marine insurance
policies to cover loss and damage from external causes, such as
fire, collision, pilferage, etc. but not against innate flaws in the
goods, such as decay, germination, or faulty packaging, nor against
war, strikes, riots, and civil commotion (see Marine Insurance).
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