Trade Terms

Last in, first out. A method of inventory rotation where goods are cycled so that the newest items in inventory are shipped first.

A duty of $.50 a ton collected on all non-U.S. vessels, except vessels owned by U.S. citizens, that arrive at a U.S. port and become a registered U.S. vessel before…

One who transports goods or merchandise on a barge, scow, or other small vessel within the port, or from a place within a port. (19CFR112.1)

Merchandise which is transported from one city to another.

Merchandise which is transported by two or more carriers.

The capability which enables a shipment to be transferred from one form of transport to another.

The transportation of merchandise across state lines. Regulatory matters fall under the jurisdiction of the federal government through the Interstate Commerce Commission.

A warehouse to store merchandise while in transit to the final destination.

A commercial document in a form consistent with the trade identifying both buyer and seller, reflecting the price actually paid or payable, the terms of sale, the currency used for…

A document in which one party makes a demand for the payment of money to another party to whom the invoice is addressed or issued. An invoice typically sets forth…