Terms used in shipping such as Document Collections, Domestic Exports,Door to Door,Domicile,Draft,DOUBLE-STACK etc.
This post explains about terms used in shipping such as DOCK RECEIPT, Dock, Document Collections, Domestic Exports,Door to Door,Domicile,Draft,DOUBLE-STACK,Dropping Outward Pilot etc.These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.
Terms used in shipping
DOCK RECEIPT:When cargo is delivered to a steamship company at the pier, the receiving clerk issues a dock receipt.
dock: (verb) - To bring in a vessel to tie up at a wharf berth. (One parks a car, but docks a ship.) (noun) - A dock is a structure built along, or at an angle from, a navigable waterway so that vessels may lie alongside to receive or discharge cargo. Sometimes, the whole wharf is informally called a dock.
Dock: For ships, a cargo handling area parallel to the shoreline where a vessel normally ties up. - For land transport, a loading or unloading platform at an industrial location or carrier terminal.
dockage: A charge by a port authority for the length of water frontage used by a vessel tied up at a wharf.
Dockage:Refers to the charge assessed against the vessel for berthing at the facility or for mooring to a vessel so berthed.
Docket:Present a rate proposal to a conference meeting for adoption as a conference group rate.
Document Collections -- Documents Against Payment - Stipulate that the exporter ships goods to the importer without a letter of credit or another form of guaranteed payment. The importer must sign a sight draft before receiving the necessary documents to pick up the goods. Documents Against Acceptance (D/A) are instructions given by a shipper to a bank stating that the documents transferring title to goods should be delivered to the buyer only upon the signing of a time draft. In this manner an exporter extends credit to the importer and agrees to accept payment at a readily determined future date. See: Draft Bill of Exchange.
Documentary Collection:A method whereby the seller uses the services of his bank to ensure that the buyer only receives the shipping documents under conditions specified by the seller, ie upon payment, or
upon acceptance, of the seller's bill of exchange. (see also Bill of Exchange, Cash Against Documents and URC522).
Documentary Credit:The officially correct term for Letter of Credit. The UCP500 only mentions "Documentary Credit" not "Letter of Credit". See also Letter of Credit and UCP500).
Documentation :Fee is a duty for executing documents, etc.
Documents Against Acceptance - Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer (or drawee) only upon the buyer's acceptance (signature on) of the attached draft.
Documents Against Acceptance (D/A):Instructions given by a shipper to a bank indicating that documents transferring title to goods should be delivered to the buyer only upon the buyer's acceptance of the attached draft.
Documents against Acceptance (D/A):see Documentary Collection
Documents Against Payment (D/P) - A type of payment for goods in which the documents transferring title to the goods are not given to the buyer until he has paid the value of a draft issued against him.
Documents Against Payment (D/P):An indication on a draft that the documents attached are to be released to the drawee only on payment.
Documents against Payment (D/P):see Documentary Collection
Dolly:A set of wheels that support the front of a container; used when the automotive unit is disconnected.
DOMESTIC CONTAINERIZATION:Movement of domestic freight in ocean containers, (to assist in repositioning of those containers) or in dedicated domestic containers
Domestic Exports - Exports of domestic merchandise include commodities which are grown, produced, or manufactured in the United States, and commodities of foreign origin which have been substantially changed in the United States, including U.S. Foreign Trade Zones, from the form in which they were imported, or which have been enhanced in value by further manufacture in the United States.
Domestic International Sales Corporation - The predecessor of the Foreign Sales Corporation which took on a new definition as a result of the 1984 Tax Reform Act. DISCs can now provide a tax deferral on up to $10 million of exports so long as the funds remain in export-related investments.
DOMESTIC OFFSHORE TRADES:Domestic shipping routes serving Alaska and non-continental U.S. States and territories.
Domestic:Within your own country.
Domicile - The place where a draft or acceptance is made payable.
Door to Door - Said of a service or freight rate provided by a container shipping line whereby goods are loaded into a shipping container at the shipper's premises and not unloaded until they arrive at the consignee's premises.
Door-to-Door:Through transport of a container and its contents from consignor to consignee. Also known as House to House. Not necessarily a through rate.
Door-to-Door:Through transportation of a container and its cargoes from consignor's premises to consignee's premises.
Door-to-Door:Transportation service arrangement in which freight is moved from origin (shipper) through to ultimate destination (consignee) for a given rate. Trucking companies typically offer door-to-door service. Railroads do not, unless the shipper and consignee both have rail sidings. Brokers, forwarders, NVOCCs etc. often package together door-to-door service through contracts with multiple carriers.
DOP - Dropping Outward Pilot - Frequently used provision in a time charter to determine the time and place of redelivery of a ship to the owner by the charterer. The hire ceases at the moment the pilot disembarks.
DOT (U.S. DEPARTMENT OF TRANSPORTATION):U.S. Department of Transportation, whose purpose is to provide a dynamic federal system of transportation to meet the country’s needs
DOT:department of transportation.
Double Stack Train (DST):Rail or train capable of carrying two 40' containers, one on top of the other.
Double-deck Load:A second tier of cargo placed on top of the first tier.
DOUBLE-STACK:The movement of containers on specialized articulated rail cars that enable the vertical stacking of the containers on each platform of the car
Downstream Dumping - This occurs when foreign producers sell at below cost to a producer in its domestic market, and the product is then further processed and shipped to another country.
DPA - Defense Production Act
DPAS - Defense Priorities and Allocation System
Dr. - Debit. Debtor. Drawer
draft - Alternative spelling of draught.
Draft Bill of Exchange - A written, unconditional order for payment from one person (the drawer) to another (the drawee). It directs the drawee to pay a specified sum of money, in a given currency, at a specific date to the drawer. A Sight Draft calls for immediate payment (on sight) while a Time Draft calls for payments at a readily determined future date.
Draft, Bank:An order issued by a seller against a purchaser; directs payment, usually through an intermediary bank. Typical bank drafts are negotiable instruments and are similar in many ways to checks on checking accounts in a bank.
Draft, Clean:A draft to which no documents are attached.
The above details describes about terms called in shipping such as DOCK RECEIPT, Dock, Document Collections, Domestic Exports,Door to Door,Domicile,Draft,DOUBLE-STACK,Dropping Outward Pilot etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in shipping business below this post.Terms used in shipping such as Dispatch,Distributor,District Export Councils , Divert,Diversionary Dumping
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