An agreement by the steamship line to provide cargo space on a vessel at a specified price to accommodate an exporter or importer, who then becomes liable for payment even though he is later unable to make the shipment.
« Back to Glossary IndexAn agreement by the steamship line to provide cargo space on a vessel at a specified price to accommodate an exporter or importer, who then becomes liable for payment even though he is later unable to make the shipment.
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