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Glossary of Terms

 

Learn more about the lingo which sometimes leave you baffled. You can search for the explaination of various terms and Acronyms used in Foreign trade.
Please Click on the Alphabets given under to pull out from the Web the meanings of the terms

Salvage: Rescue of goods from loss at sea or by fire; also, goods so saved, or payment made or due for their rescue.

Sanitary and Health Certificate: A statement signed by a health organization official certifying the degree of purity, cleanliness, or spoilage of goods, and the health of live animals.

Schedule B: Refers to "Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported from the United States." Being replaced under the Harmonized System.

Scheduled Flight: Any service that operates to a set timetable.

SCR: Specified Commodity Rate. Applied to narrowly specified commodities. Usually granted on relatively large shipments. Theoretically is of limited time duration.

Sector: Distance between two ground points within a route.

Self-Sustaining: Vessel has its own cranes and equipment mounted on board for loading/unloading. Used in ports where shore cranes and equipment are lacking.

Service: The defined, regular pattern of calls made by a carrier in the pick-up and discharge of cargo.

Service Contract: A contract between a shipper and an ocean carrier of conference, in which the shipper makes a commitment to provide a minimum quantity of cargo over a fixed time period.

Set Up: Articles in their assembled condition.

S. & F.A.: Shipping and forwarding agent.

Shipment: Freight tendered to a carrier by one consignor at one piece at one time for delivery to one consignee at one place on one bill of lading.

Shipper: Term used to describe exporter. Mostly manufacturing companies.

Shipper's Export Declaration: A form required by the Treasury Department and completed by a shipper showing the value, weight, consignee, destination, etc., of export shipments as well as Schedule B identification number.

Ship's Manifest: An instrument in writing containing a list of the shipments comprising the cargo of the vessel.

Ship's Tackle: All rigging, etc., utilized on a ship to load or discharge cargo.

Short-Shipped: Cargo manifested but not loaded.

Single Entry Charter: A non-scheduled flight carrying the cargo of one shipper.

Sight Draft: A draft payable upon presentation to the drawee. Compare date draft and time draft.

S.I.T.: Stopped in Transit

Site: A particular platform or location for loading or unloading at a place.

S.L. & C.: Shipper's Load and Count

S.L. & T.: Shipper's Load and Tally

S/N: Shipping Note

S.O.L.: Ship Owner'Liability

Split Charter: Where a number of consignments from different shippers are carried on the same non-scheduled aircraft. Under U.K. regulations a non-scheduled flight chartered by a single forwarder or agent on behalf of a number of shippers is still classified as a split charter. Under U.S. regulations, a forwarder chartered flight is classified as a single entity although it can consolidate.

S.R: Shipping Receipt

S.R. & C.C.: Strikes, riots, and civil commotions.

SS: Steamship; steam powered ship (Steam driven turbines)

Standard International Trade Classification (SITC): A standard numerical code system developed by the United Nations to classify commodities used in international trade.

S.tn.: Short ton

Steamship Agent: A duly appointed and authorized representative in a specified territory acting in behalf of a steamship line or lines and attending to all matters relating to the vessels owned by his principals.

Steamship Line: Company is usually composed of the following departments; vessel operations, container operations, tariff department, booking, outbound rates, inward rates and sales. the company can maintain its own in country U.S. offices to handle regional sales, operations and/or other matters or appoint steamship agents to represent them doing same. Some lines have liner offices in several regions and have appointed agents in others.

Stowage: The lacing of cargo in a vessel in such a manner as to provide the utmost safety and efficiency for the ship and the goods it carries.

Strikes, Riots, and Civil Commotions: An insurance clause referring to loss or damage directly caused by strikers, locked-out workmen, persons participation in labor disturbances, and riots of various kinds. The ordinary marine insurance policy does not cover this risk; coverage against it can be added only by endorsement.

Subsidy: An economic benefit granted by a government to producers of goods or services, often to strengthen their competitive position.

Sue & Labor Clause: A provision in marine insurance obligating the assured to do things necessary after a loss to prevent further loss and to act in the best interests of the insurer.

Surety Bond: A bond insuring against loss or damage or for the completion of obligations.

Surety Company: An insurance company

S.W.: Shipper's weights

Disclaimer

We publish the Industry terminology and acronyms as a courtesy to the international commerce community. While we have performed exhausting research in order to supply the most accurate and best available information we do not accept any responsibility for the usage of the terms as described in this website.

We have so many acronyms that they have been stored on seperate pages for speed in loading, please click on the alpha letter below to go to the page of the accronym you are looking for.

 
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