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Trade Glossary
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Easement  (law) A right to pass through another person’s property. A property owner, in order to enter and exit the property, is given a right to cross another person’s adjoining property. The right to use an easement is servitude against the property burdened.

EDI  (shipping) Electronic Data Interchange. Communications by computer to computer from one company to another.

EIR  (shipping) Equipment Interchange Receipt. Documents used to receive or deliver a full or empty container/chassis at any terminal or inland container pool.

Enclosed or semi-enclosed sea  (law) A gulf, basin or sea surrounded by two or more States and connected to another sea or the ocean by a narrow outlet or consisting entirely or primarily of the territorial seas and exclusive economic zones of two or more coastal States.

Endorsement  (banking/law) The act of a person, who is the holder of a negotiable agreement, signing his or her name on the back of an agreement in order to transfer title or ownership. An endorsement may be made in representation of another individual or legal entity resulting in a transfer of the property to that other individual or legal entity.

En route  (shipping) In transit.

Equalization  (shipping) Compensation for additional charges incurred by shipper for delivering cargo to port designated by the carrier other than the closest port to the supplier.

ETA  (shipping) Estimated Time of Arrival.

ETD  (shipping) Estimated Time of Departure.

European option  (banking) An option containing a provision to the effect that it can only be exercised on the expiration or maturity date of an agreement.

Ex (name of place)  (trade) A term of sale where the price quoted applies only at the point of origin and the seller agrees to place the goods at the disposal of the buyer at the specified place on the date or within the period agreed upon. All other charges are against the account of the buyer.

Excise tax  (finance) A selective tax, sometimes called a consumption tax, on certain goods produced within or imported into a country.

Exculpatory clause  (law) A contract clause stating that a party is released from liability for wrongful acts committed by the other party.

Ex parte  (law) By one party or side only. An application ex partes.

Ex-Works  (shipping) Buyer receives the cargo directly from the factory and thereafter arranges shipment, insurance and other related services themselves.

Export Declaration  (shipping) Export Declaration (Shippers.) Bureau of Census document which spells out shipment details for entry to government statistical system. Documents for export shipping declaring value of cargo to U.S. Customs.

Export Documents  (shipping) These documents required to export a shipment.

EXW  Ex Works; a term of sale. The seller is only responsible for making the goods available at his/her premises. The buyer is responsible for all transportation, clearance, and duties (a totally collect shipment)


This section is given in good faith and for reference only.

 

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