Loss and damage. This term usually applies to a loss or damage that is discovered at the time of delivery.
Trade Terms
L&R
Lake and rail.
L.A.
Letter of authority.
L.C.L.
Less than carload. The term used for a railroad shipment that weighs less than the minimum necessary for the application of the carload rate.
L.T.L.
Less than truckload. The term is used for a shipment that weighs less than the minimum necessary for the application of the truckload rate.
L/C
Letter of credit.
IMPORT LICENSE
A document required and issued by some national governments authorizing the importation of goods into their individual countries.
IMPORT MERCHANT
A merchant who buys overseas for his own account for the purpose of later resale, handling all details of import documentation and transportation.
IMPORT QUOTA
A fixed amount of goods that a government will allow to be imported within a specified period of time. An amount that usually reflects balance of trade and other political…
IMPORT RATE
A rate established specifically for application on import traffic and generally less, when published, than a domestic rate.
