Terms Beginning with O

O.D.: Outside diameter

OFF-LINE: Describes an airline that sells in a market to which it does not operate. An Off-Line carrier will use another operator to link with its network.

OPEN ACCOUNT: A high-risk trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.

OPEN POLICY: A cargo insurance policy that is an open contract; i.e., it provides protection for all of an exporter's shipments afloat or in transit within a specified geographical trade area for an unlimited period of time, until the policy is cancelled by the insured or by the insurance company. It is "open" because the goods that are shipped are also detailed at that time. This usually is shown in a document called a marine insurance certificate.

O/R: Owner's risk

O.& R.: Ocean and Rail

O.R.B.: Owner's risk or breakage

O.R. Det: Owner's risk of deterioration

O.R.F.: Owner's risk of freezing

O.R.L.: Owner's risk of leakage

O.R.W.: Owner's risk of becoming wet

O.S.& D.: Over, short and damage


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