03 Sep

Original Bill of Lading (OBL)

A document which requires proper signatures for consummating carriage of contract. Must be marked as “original” by the issuing carrier.

03 Sep

Out Gate

Transaction or interchange that occurs at the time a container leaves a rail or water terminal.

03 Sep

Overheight Cargo

Cargo more than eight feet high which thus cannot fit into a standard container.

03 Sep

Owner Code (SCAC)

Standard Carrier Abbreviation Code identifying an individual common carrier. A three letter carrier code followed by a suffix identifies the carrier’s equipment. A suffix of “U” is a container...

03 Sep

P&I

Abbreviation for “Protection and Indemnity,” an insurance term.

03 Sep

Packing List

Itemized list of commodities with marks/numbers but no cost values indicated.

03 Sep

Pallet

A platform (usually two-deck), with or without sides, on which a number of packages or pieces may be loaded to facilitate handling by a lift truck.

03 Sep

Partial Shipments

Under letters of credit, one or more shipments are allowed by the phrase “partial shipments permitted.”

03 Sep

Per Diem

A charge made by one transportation line against another for the use of its equipment. The charge is based on a fixed rate per day.

03 Sep

Perils of the Sea

Those causes of loss for which the carrier is not legally liable. The elemental risks of ocean transport.

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