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Ocean
Bill of Lading:
A receipt for cargo in
transit, and a contract
between the exporter and
an ocean carrier for transportation
and delivery of goods
to a specified party at
a specified foreign destination.
Issued after the vessel
has sailed and the cargo
has been entered in the
ship's manifest.
O.D.:
Outside diameter
ODS:
An acronym commonly used
for the term "operating
differential subsidy,"
which is a payment to
an American-flag carrier
by the federal government
to offset the difference
in operating costs between
US and foreign vessels.
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.
O/N:
Order notify; own name
O/o:
Order of
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 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.
Original
Equipment Manufacturers
(OEM accounts):
Customers who incorporate
the exporter's product
into their own merchandise
for resale under their
own brand names.
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 fire or
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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