04 Sep

Letter of Credit (LC)

A document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt...

04 Sep

Less then Container Load (LCL)

The term opposite to full container load, referring to small goods which can not fill a container. This kind of goods are usually drawn from various locations and concentrated...

04 Sep

Letter of Indemnity

Guarantee from the shipper or consignee to indemnify carrier for costs and/or loss, if any, in order to obtain favorable action by carrier, e.g. sometimes, it is used to...

04 Sep

Lien

A legal claim upon goods for the satisfaction of some debt or duty.

04 Sep

Lift-On/Lift-Off (LO-LO)

A container ship onto which containers are lifted by crane

04 Sep

Lightening

A vessel discharges part of its cargo at anchor into a lighter to reduce the vessel’s draft so it can then get alongside a pier.

04 Sep

Lighter

An open or covered barge towed by a tugboat and used mainly in harbors and inland waterways to carry cargo to/from alongside a vessel.

04 Sep

Lighterage

Refers to carriage of goods by lighter and the charge assessed therefrom.

03 Sep

Limits Of liability

The maximal compensation assumed by the carrier of the damage or short of the goods in container transportation. The following are some regulations of the compensation of full container...

03 Sep

Liner

Vessel plying a regular trade/defined route against a published sailing schedule.

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