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GLOSSARY

AIRWAY BILL – a contract for air transportation and receipt of goods shipped between an air carrier and a shipper or shipper’s representative.

AMERICAN-FLAG CARRIER – an air or sea transportation common carrier involved in international transportation movements, which operates under a certificate of public convenience and necessity, and is approved for service by the President of the United States.

BANK DRAFT – a negotiable financial instrument made out by a seller against a purchaser which directs the payment of a specified amount of money through an intermediary bank.

BILL OF LADING – a non-negotiable document by which a transportation line acknowledges receipt of freight, specifies terms, and contracts for movement.

BONDED WAREHOUSE – a storage facility approved by the Treasury Department and under guarantee for the strict observance of revenue laws utilized for storing goods until duties are paid.

CERTIFICATES OF ORIGIN – documents which specify the country of origin, number of packages, number of boxes or cases, marks and number, gross and net weight, and description.

CONSIGNEE – party to whom a shipment is to be delivered.

CONSIGNOR – shipper or shipper’s agent.

DEMURRAGE – charge for not removing a loaded ocean container from a port or terminal within the free time allowed.

DRAWBACK – a refund of customs duties paid on materials imported.

DUTY – charge assessed by a government on goods imported or exported

EXPORT DECLARATION – form required by the Treasury Department and completed by the shipper showing the value, weight, consignee, destination of a shipment to be exported.

IN-BOND – shipments under the control of US Customs until all charges and regulations have been satisfied.

LONG-TON – 2,240 pounds

PACKING LIST – detailed specification as to goods packed for shipment and completed by owner.

SHORT-TON – 2,000 pounds

WAYBILL – official document which is used to identify the shipper and the consignee, present the routing, describe the goods, present applicable rate(s), show the shipping weight and provide signature authorizations.