Glossary

Document that represents the ownership of the goods being shipped, can be transferred between parties, and is often used as collateral in financing arrangements.

A series of strategic discussions that resolves an issue or issues in a way that both parties find acceptable.

The the total assets of an entity, minus its total liabilities. Often referred to as equity, the amount of retained earnings that are left in the business.

The weight of goods excluding packaging.

The process a company uses to develop and implement new products to the sales portfolio.

A item received by a warehouse for which no storage slot has been established.

A fixed point in a firm’s logistics system, such as plants, warehouses, supply sources and markets, where goods stop and are connected by transportation networks.

A company offering the same services as an ocean carrier, but which does not own or operate a vessel.

Document that provides for the delivery of goods only to a named business or person and to no one else. Also known as a straight bill of lading, and not transferable.

The failure to meet a specified requirement or rule. The failures are most commonly either physical or systemic in nature.

A trade agreement enacted in 1994 between Canada, the United States and Mexico. Replaced in 2020 by the U.S.-Mexico-Canada Agreement (USMCA).

Terms that often appear in ocean or airfreight tariffs, and apply if no rate for the commodity shipped appears in the tariff. These general rates are usually higher.

Company or person on the bill of lading or waybill to be notified when the cargo arrives at destination. May be different from the consignee (but often is consignee).

Nitrogen Oxides. A family of poisonous, highly reactive gases. Emitted by automobiles, trucks and various non-road vehicles. Subject to governmental regulations.

See Operating Differential Subsidy (ODS).

See Original Equipment Manufacturer (OEM).

See Over, Short, and Damaged (OS&D).

Item that is at the end of its product life cycle or for which there is no forecast demand expected.

The document issued by the ocean carrier for transportation of goods by sea. Also, acts as a receipt for cargo delivered to the carrier and a document of title.

See Ocean Freight.

A company that provides maritime transportation services for the shipment of goods and materials by sea.

Goods transported by a vessel from one port to another port. Includes items shipped in containers, bulk, RORO, etc.

See Cargo Tracking, specific to a shipment from one port to another port.

The movement of cargo by sea, from one port to another port, by vessel.

The transport of cargo by sea, from one port to another port. See Ocean Freight.