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BAA:
British Airports Authority
BACA:
Baltic Air Charter Association
Balance
of Trade: The
difference between a country's
total imports and exports;
if exports exceed imports,
favorable balance of trade
exists, if not, a trade
deficit is said to exist.
Barter:
Trade in which merchandise
is exchanged directly
for other merchandise
without use of money.
Barter is an important
means of trade with countries
using currency that is
not readily convertible.
B/B:
(See Break-Bulk Cargo)
Belly
Cargo: Freight
accommodation below the
main deck.
Beneficiary:
A firm or person on whom
a letter of credit has
been drawn. The beneficiary
is usually the seller
or exporter.
Bermuda
Agreement: An
agreement concluded in
1946 between the U.K.
and the U.S., designed
to regulate future international
air traffic. Most governments
accept its principles
and follow it inter alia
by limiting traffic rights
on international routes
to one or two carriers.
Berth:
Is the place beside a
pier, quay or wharf where
a vessel can be loaded
or discharged.
Berth
Liner Service:
Is a regular scheduled
steamship line with regular
published schedules port
of call ) from and to
defined trade areas.
Berth
or Liner Terms:
Is an expression covering
assessment of ocean freight
rates generally implying
that loading and discharging
expenses will be for ship
owner's account, and usually
apply from the end of
ship's tackle in port
of loading to the end
of ship's tackle in port
of discharge.
Bill
of Lading: A document
that establishes the terms
of a contract between
a shipper and a transportation
company under which freight
is to be moved between
specified points for a
specified charge. Usually
prepared by the shipper
on forms issued by the
carrier, it serves as
a document of title, contract
of carriage, and a receipt
for goods. Also see Air
Waybill and Ocean
Bill of Lading.
Bonded
Warehouse: A warehouse
storage area or manufacturing
facility in which imported
goods may be stored or
processed without payment
of customs duties.
Brussels
Tariff Nomenclature Number
(BTN): The customs
tariff number used by
most European nations.
The United States does
not use the BTN, but a
similar system known as
the Harmonize Tariff Schedule.
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