Terms used in shipping such as Korea Trade Promotion Corporation, Kommanditgesellschaft,Knot etc.
This post explains about terms used in shipping such as Life Insurance Policy,Loss during loading,Latent defect,Korea Trade Promotion Corporation, Kommanditgesellschaft,Knot 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
KG – Kommanditgesellschaft
kHz – kilohertz
Kilogram:1,000 grams or 2.2046 pounds.
Kilogram:2.2046 pounds
King Pin:A coupling pin centered on the front underside of a chassis; couples to the tractor.
kl – kiloliter
km – kilometer
KNOCKED DOWN (KD):An article taken apart, folded, or telescoped in such a manner as to reduce its bulk at least 33-l/3% below its assembled bulk.
Knot:One nautical mile (6,076 feet or 1852 meters) per hour. In the days of sail, speed was measured by tossing overboard a log which was secured by a line. Knots were tied into the line at intervals of approximately six feet. The number of knots measured was then compared against time required to travel the distance of 1000 knots in the line.
Known Loss:A loss discovered before or at the time of delivery of a shipment.
Kokusai Denshin Denwa - The Kokusai Denshin Denwa Company, KDD, was established in 1953 but traces its history back to 1871 and the establishment of its predecessor organizations. For more than a century, the company was Japan's sole supplier of international telecommunications services and today remains Japan's leading international carrier. KDD is Japan's signatory to INTELSAT and INMARSAT.
Kommanditgesellschaft - KG (German, meaning: "limited partnership") differs from the general partnership in that only the general partner (Komplementaer) has full personal liability for the liabilities of the partnership while the remaining (limited) partners' (Kommanditist) liability is limited to the specific amount of their contribution. The company must carry the name of one personally liable partner with reference to the existence of a company. The name of the general partner with unlimited liability may not be left out.
Kommanditgesellschaft auf Aktien - KGaA (German, meaning: "limited partnership by shares") is a combination of the elements of a stock company and a limited partnership. There is at least one general partner whose liability is unlimited while limited shareholders have an interest in the stated capital divided into shares without being personally liable for the debts of the company.
Korea Foreign Trade Association - KFTA, a non-profit, private business organization of Korean companies, provides information and services concerning trade both for members and for foreign businesses. KFTA, with headquarters are in Seoul, maintains some U.S. offices.
Korea Trade Promotion Corporation - KOTRA, a non-profit organization, was established by the Korean government in 1962 to promote foreign trade. The corporation now also serves as an import promotion center offering a variety of free services in trade, investment, and international economic cooperation. KOTRA, with headquarters in Seoul, has a network of domestic and overseas offices, including several U.S. sites. KOTRA's U.S. telephone: 1-800-568-7248.
Kreditanstalt fur Wiederaufbau - The KfW (English: Reconstruction Loan Corporation) provides assistance to developing countries in the form of loans, grants, materials, or services. The KfW determines volume and use of funds, repayment conditions, interest rates, fund-release procedures, and monitoring requirements. It promotes the establishment of German companies in developing countries and promotiong new technologies by German companies in developing countries. See: Deutsche Finanzierungsgesellschaft fur Beteilgungen in Entwicklungslandern GmbH Deutsche Gesellschaft fur Technische Zusammenarbeit.
KT – Knot
KT:Kilo or metric ton. 1,000 Kilos or 2,204.6 pounds.
Kuwait Fund for Arab Economic Development - The KFAED is a Kuwaiti independent public institution which assists Arab and other developing countries in developing their economies by granting them concessional loans for development programs and by financing pre-investment studies of ways to expand production capacities. Fund operations, originally restricted to Arab countries, were extended to cover other developing countries in July 1974. In March 1981, the objectives of the Fund were extended to include participation in the capital and resources of development institutions and other types of establishments. These recipients have included: the Arab Fund for Economic and Social Development, the African Development Bank, the African Development Fund, the Arab Bank for Economic Development in Africa, the Inter-Arab Investment Guarantee Corporation, the International Development Association, the International Fund for Agricultural Development, and the Special Program of Assistance for African Countries. KFAED was established in December 1961; its headquarters are in Safat, Kuwait.
Kyoto Convention - See: International Convention on the Simplification and Harmonization of Customs Procedures.
l – liter
L&D:Loss and Damage.
L. def. - Latent defect
L.A.S.H. - Lighter aboard ship
L.A.T. - Linseed Association Terms
L.A.T.F. - Lloyd's American Trust Fund
L.A.U.A. - Lloyd's Aviation Underwriters' Association
L.A.U.T.R.O. - Life Assurance and Unit Trust Regulatory
L.C. - London clause (chartering), Label clause
L.C.L. - Less than full container load
L.C.L.:Less than Container Load. Cargo in quantity less than required for the application of a container load rate.
L.C.T.A. - London Corn trade
L.d.d. - Loss during discharge
L.d.l. - Loss during loading
L.H.A.R. - London, Hull, Antwerp or Rotterdam
L.I.B.C. - Lloyd's Insurance Brokers' Committee
L.I.M. - London Insurance Market
L.I.M.D.S.M. - London Insurance Market Data Standards Manual
L.I.M.T.C.G. - London Insurance Market Technical Co-ordination Group
L.I.P. - Life Insurance Policy
L.L.T. - London Land Terms
L.M.C. - Lloyd's machinery certificate
l.m.c. - Low middling clause (cotton trade)
L.M.C.C. - Lloyd's machinery certificate, continuous survey
L.N.G. - Liquified natural gas carrier
l.n.y.d. - Liability not yet determined
L.P.G. - Liquified petroleum gas carrier
L.P.S.O. - Lloyd's Policy Signing Office
L.R. - Lloyd's Register of Shipping
The above details describes about terms called in shipping such as Life Insurance Policy,Loss during loading,Latent defect,Korea Trade Promotion Corporation, Kommanditgesellschaft,Knot 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 Jib,Joint Rate,Joint Survey ,Joint Venture,Keidanren , Keel
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