Terms Beginning with T

TARE WEIGHT: The weight of packing and containers without the goods to be shipped.

TARIFF: A general term for any listing of rates, charges, etc. The tariffs most frequently encountered in foreign trade are: tariffs on the international transportation companies operating on sea, on land, and in the air; tariffs of the international cable, radio, and telephone companies; and the Customs tariffs of the various countries, which list goods that are duty free and those subject to import duty, giving the rate of duty in each case. There are various classes of Customs duties.

T.B.L.: Through bill of lading

TEMPERATURE CONTROLLED CARGO: Any cargo requiring carriage under controlled temperature.

TEU: Twenty foot equivalent. A marine term referring to ocean container size.

TIME DRAFT: A draft that matures in a certain number of days, either from acceptance or date of the draft.

TITLE, PASSING: The passing of title to exported goods is determined in large by the selling terms. For example, if an exporter sells goods C.I.F. he may be presumed to pass ownership and tender of documents. However, he may ship on a bill of lading drawn to his own order, to prevent the buyer from gaining possession of the goods until the draft is paid or accepted. In this case he retains a security title to the goods; that is, a title for security purposes only, until the financial arrangement is carried out. Caution: depending on the laws of the buyer's country, you may not be able to force passage of title without payment having been received or the buyer having accepted delivery of the goods or a clear understanding by the buyer being understood and accepted.

TRACKING: A carrier's system of recording movement intervals of shipments from origin to destination.

TRADE LANE: A term used to define a geographic area or specific route served by carriers.

TRAMP: A tramp is a vessel that does not operate along a definite route on a fixed schedule, but calls at any port where cargo is available.

TRANSSHIPMENT: The transfer of a shipment from one carrier to another in international trade, most frequently from one ship to another. In as much as the unloading and reloading of delicate merchandise is likely to cause damage, transshipments are avoided whenever possible.

TRUST RECEIPT: Release of merchandise by a bank to a buyer for manufacturing or sales purposes in which the bank retains title to the merchandise.


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