Trade Terms

Strikes, riots and civil commotion. A term referring to an insurance clause excluding insurance loss due to these acts.

Shipside.

Short ton (2,000lbs).

Sight draft.

Steamship

Usually the amount of money realized from the sale of damaged merchandise.

Most common method of appraisement of imported merchandise in the currency of the purchase. The actual price paid, or agreed to be paid, for the goods.

An obligatory, generally the importer of record. The person(s) or entity accepting primary responsibility for all government debts secured by a bond as evidenced by the principal

A company that provides its own transportation, either through leased or owned equipment.

An invoice provided by a supplier prior to the shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and important specifications…