Trade Terms                                 

A form required for all shipments by the US Treasury Department and prepared by the shipper, indicating the value, weight, destination, and other basic information about an export shipment.

Note on bill of lading indication that the contents of a container were loaded and counted by the shipper and not checked or verified by the Steamship Company.

Document issued on behalf of the Underwriter stating the terms and conditions of the marine insurance. Issued when evidence of insurance is required, as by the bank issuing the Letter of Credit.

A standard numerical code system developed by the United Nations to classify commodities used in international trade.

A non-negotiable bill of lading in which the goods are consigned directly to a named consignee.

The operation by which the insurance company (on payment of a claim) assumes all of the assured's rights to recovery from any third parties; substitution of one creditor for another.

A marine specialist who examines damaged property and determines the cause, nature, and extent of damage and methods of repair and/or replacement. He is not an adjuster, and all his actions are without prejudice to policy terms and conditions.