Glossary

Glossary

SDR Special Drawing Rights - means of a basket of currencies designed to “iron out" currency exchange fluctuations in international valuations, now used to express the limitation under the Hague -Visby Rules and the MSA Limitation Convention.
SOB Shipped on Board - an endorsement on the “received for ship'ment" bill of lading confirming that the goods have been laded on board.
Shipper The person who tenders the goods for the carriage, not to be confused with the party issuing the bill of lading or the vessel operator who is the carrier.
Shut-out Goods not carried on the intended vessel.
Slot The space on board a vessel occupied by a container.
Straight bill of lading A peculiar American term for a negotiable bill of lading like a “Waybili", governed by the US Pommerence Act.
Stufiing/Stripping The action performed when packing or unpacking a container.
TEU Twenty-Foot Equivalent Unit-i.e. lx2Oft= l TEU. lx4Oft=ZTEU.
THC Terminal Handling Charge - a charge for handling contraire at the ocean terminals.
TlR Transport international Routiers - a system involving the issue of a corned to load haulers which allows loaded vechicles to cross national frontiers with minimum customs formalities.
TTD The TTD is a contract of carriage involving more than one carrier, The carrier who issues the TTD acts as a principal only during the carriage on his own vessel and as agent at all other times. Therefor, the liabilities and responsibilities are spread over several carriers and different and most probable unknown conditions at different stages of the carriage.
TTO Through Transport Operator -carrier who contract to carry goods (only part of the carriage he undertakes to perform himself) on the basis that he is the principal whilst the goods are in his custody and care and an urgent only whilst they are not.
Tariff The terms and conditions and scale of charges - in the US trade the tariff must be notified in advance to the FMC (see above)
Terminal The port or depot at which containers are loaded or unloaded noto or from container vessels, railways or trucks
UCP Uniform Customs and Practice of Documentary Credits - the banker's "bible" on documentary credit interpretation issued by the ICC.
UNClTRAL United Nations Commission on International Trade Law.
UNCON Uncotainerable Goods - see as well Breakbulk goods which because of their dimension cannot be containerized and which are therefore calles “ breakbuilk”.
UNCTAD United Nations Conference on Trade and Development.
UNTAD MMO UNCTAD Multi Modal Transport Convention.
Vienna Convention A i980 United Nations Convention on Contracts for the International Sale of Goods which came in to force on 1st January 1988.
Waybill A bill of lading that acts as receipt for the goods and evidence of the contract of carriage. A waybill is a bill of lading that is not document and con thus be defined as follows. a waybili is receipt for goods; awaybill evidence of the contract: " a waybill is non-negotiable document. under a waybill delivery will be efiected to a nominated consignee upon proof of identity. As a tittleit preserves a personal contract between the shipper and the carrier only. There is (at present) no mandatory law or convention and the parties have absolute freedom on contract.