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- Lading transfer from
- Lading in the reported equipment has been transfered from another
railcar, container, or trailer.
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- Lading transfer to
- Lading in the reported equipment has been transfered to another
railcar, container, or trailer.
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- Less than container load (LCL)
- Cargo in an insufficient quantity to qualify for exclusive container
use.
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- Letter of credit
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| Back-to-Back | : | A secondary letter of credit
issued to a beneficiary on the strength of a primary credit; |
| Clean | : | A letter of credit that requires the
beneficiary to present only a draft or a receipt for specified
funds before receiving payment; |
| Confirmed | : | A revolving letter of credit that
permits any amount not utilized during any of the specified periods
to be carried over and added to the amounts available in subsequent
periods; |
| Deferred Payment | : | A letter of credit issued
for the purchase and financing of merchandise, similar to acceptance-type
letter of credit, except that it requires presentation of sight
drafts payable on an installment basis; |
| Irrevocable | : | An instrument that, once established,
cannot be modified or cancelled without the agreement of all parties
concerned; |
| Non-cumulative | : | A revolving letter of credit
that prohibits the amount not used during the specific period
to be available in the subsequent periods; |
| Restricted | : | A condition within the letter
of credit which restricts its negotiation to a named bank; |
| Revocable | : | An instrument that can be modified
or cancelled at any moment without notice to and agreement of
the beneficiary, but customarily includes a clause in the credit
to the effect that any draft negotiated by a bank prior to the
receipt of a notice of revocation or amendment will be honored
by the issuing bank; |
| Revolving | : | An irrevocable letter issued for
a specific amount; renews itself for the same amount over a given
period; |
| Straight | : | A letter of credit that contains
a limited engagement clause addressed to the beneficiary; state
that the issuing bank promises to pay upon presentation of the
required documents at its counters or the counters of the named
bank; |
| Transferable | : | A letter of credit that allows
the beneficiary to transfer in whole or in part any amount of
the credit to one or more third parties provided that the aggregate
of such transfers does not exceed the amount of the credit.
| | Unconfirmed | : | A letter of credit forwarded
to the beneficiary by the advising bank without engagement on
the part of the advising bank. |
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- Letter of indemnity
- Guarantee from shipper or consignee to indemnity carrier for
costs and/or loss, if any, in order to obtain favorable action
by carrier, e.g. sometimes, it is used to allow consignee to take
delivery of goods without surrendering bill of lading which has been delayed
or become lost (for straight consignment case).
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- Liability
- A legal obligation to pay a definite or reasonably certain amount at a definite or reasonably certain time in return for a current benefit; the state of being legally obliged and responsible. Some of the criteria are not met by items classified as liabilities where there are special circumstances.
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- Lien
- A legal claim upon goods for the satisfaction of some debt or
duty.
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- Lift-on/Lift-off (LO-LO)
- A container ship onto which and from which containersare lifted
by crane.
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- Lighter
- An open or covered barge towed by a tugboat and used mainly
in harbors and inland waterways.
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- Lighterage
- Refers to the carriage of goods by lighter and the charge assessed
therefore.
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- Liner
- Vessel plying a regular trade/defined route against a published
sailing schedule.
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- Liner terms
- Freight includes the cost of loading onto and discharging from
the vessel.
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- Line-haul
- Transportation from one city to another as differentiated from
local switching service.
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- Link (Hypertext Link)
- A reference or path to another document. May also be used to launch a command or open a window.
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- Liter
- Equal to 1.06 liquid quarts.
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- Load factor
- Percent of loaded containers against total capacity of vessel
or allocation.
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- Locking bar
- Device that secures container doors at top and bottom.
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- Long Form B/L
- A bill of Lading form with all Terms & Conditions written on it. Most bills of lading are short form which incorporate the long form clauses by reference.
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- Long ton (LT; L.TN.)
- Equal to 2,240 pounds.
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- Loose packing
- Cargo without packing.
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