The refusal of merchandise by the designated consignee

A letter of credit term meaning plus or minus 10% of whatever immediately follows. The terms approximately and circa are synonymous

The cancellation of the part of a contract that has not yet been performed. For example, if parties agree to several deliveries of goods, but after the first delivery, war is declared in the buyer´s country and no further goods can be delivered, the buyer must pay the first delivery, but the contract is abrogated for the remaining ones. See force m [..]

In the theory of international trade an absolute advantage occurs when a country or company is more efficient (using fewer resources) at producing the same good or service than another country or company. This theory was first suggested by British economist Adam Smith in the 18th century. See also comparative advantage.

The act of formally acknowledging a debt by signing a financial instrument called a draft. When done by a non-bank party, a trade acceptance is created. When done by a bank, a banker´s acceptance is created. See banker´s acceptance.

To haul a shipment back over part of a route which it has traveled.

A complement to a contract laying down rights and/or obligations that for whatever reasons the contracting parties cannot state in the original contract. A letter of indemnity provided by a shipper to a carrier, inducing the carrier to provide a clean transport document under circumstances where this would not otherwise be done. Related entries Cou [..]

That portion of an order that cannot be delivered at a scheduled time, but will be delivered at a later date when available. Also, to restock requested out-of-stock items.

A new letter of credit opened in favour of another beneficiary on the basis of an already existing one, not a transferable letter of credit. This type of letter of credit is used for trade intermediaries to open a second credit in favour of a supplier.

The process of a transportation vehicle returning from the original destination point to the point of origin. The backhaul can be with a full, partial, or empty load. An empty backhaul is called deadheading.