An order issued by the district director allowing cargo to remain on the wharf or pier where discharged beyond 5 P.M. on the 5th working day after the day the…
Trade Terms
LAYER
One complete row of boxes on a pallet or unitized stock.
LAZARETTO
A place set apart in quarantine for fumigating goods.
LDG
Loading.
LEAD TIME
The period of time elapsing between when an order is placed and the order is received in storage.
LEGAL WEIGHT
The weight of the goods and the interior packaging but not the container.
LENGTH BLOCK
A pallet pattern in which package lengths are loaded parallel to the pallet length.
LETTER OF CREDIT
A letter of credit is a separate contract entered into between a commercial bank (issuing bank), and an applicant, the bank’s accountee, in which the bank promises a third party,…
LETTER OF CREDIT (L.C.)
A method of payment for goods in which the buyer establishes his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation required, and…
LIEN
A legal claim placed upon merchandise pending payment.
