ScheduleBlast

Trade Glossary

index: a b c d e f g h i j k l m n o p q r s t u v w x y z

Sanction (economics) An imbargo imposed against an individual country by the United Nations or a group of nations in an effort to influence its conduct or its policies.

SDD Scheduled Delivery Date. PC-based system used to calculate delivery dates based on date shipped, optimum shipping dates based on required arrival date, and rate.

Sea waybill (banking) A transport document which is not a document of title or a negotiable document. The sea waybill indicates the “on board” loading of the goods and can be used in cases when there is no bill of lading.

Seaworthiness (shipping) the fitness and/or safety of a vessel for its intended use.

Sea-Air (shipping) Container moving both modes. Movement of cargo by sea to connecting discharge port, then air freighted to ultimate destination.

Seals (shipping) Attached to locking device to prevent pilferage and certify no tampering, made of plastic or aluminum attached by Customs or carrier.

SED (shipping) Shipper’s Export Declaration. This form includes a general description of the right, the Schedule By number, value, country of destination, and export license number if applicable. The SED serves two purposes: to give some control over shipments of sensitive commodities or shipments distined to unfriendly countries: to gather statistical data on export.. Also used by the shipper to compile quarterly reporting required by customer on export.

Self Sustained Vessel (shipping) Vessel that doesn’t require shore equipment to load/unload cargo.

Service Contract (shipping) A rate negotiable and agreed to between two parties allowing for a particular rate based on volume; written agreement between carrier and customer for specified rate, volume, and service level by carrier over an agreed time.

Set Point (shipping) Specific temperature that a refrigerated container has been set to keep. Ideally the set point and the actual temperature should be identical throughout the voyage.

Severability clause (law) A contract term that states that each portion of the agreement is independent of the others, allowing a court to invalidate a clause of the contract without voiding the entire agreement.

Shed (shipping) Small building that holds LTL cargo for loading vessel.

Shipment Cube (shipping) Equals the length x width x height (in inches) divided by 1,728 = Cubic Feet (CFT). Use the furthest distance for each measurement and round the cubic feet to the nearest whole factor.

Shipper Pool (shipping) Where containers belonging to shipper are stored.

Shipper’s Load Stow & Count (shipping) Contents of a container as stowed and counted by shipper. Cargo loaded and stowed by shipper in container; CY load.

Shipper’s Reference Number (shipping) A shipper’s ID number for a shipment.

Shipping Act of 1984 (shipping) Congressional legislation establishing U.S. regulations for the ocean transportation industry.

Ships Chandlers (shipping) Suppliers of various items to the vessel.

Short Landed (shipping) Cargo volume count less than originally shipped.

Short Shipped (shipping) Cargo missing a vessel that originally intended for due to carrier’s option.

Sight Draft (shipping) Method of payment for goods. Used if seller wishes to retain control over the goods until the buyer actually pays for them. The buyer must make full payment to his/her bank before receiving the necessary documents to take possession of the freight. Similar to C.O.D.

Silent confirmation (banking) In addition to the commitment of the issuing bank of a letter of credit, the advising bank can, by silent confirmation, enter into its own independent commitment to pay or accept. Silent confirmations are agreements between the beneficiary and the confirming bank. The confirming bank requires the assignment of all the rights of the beneficiary under the letter of credit.

Sleepsheet (shipping) Method of loading packages in a container via a thin liner board and forklift.

SLI Shipper’s Letter of Instructions. This form is completed by the shipper instead of a bill of lading and contains all pertinent shipment information. Yellow International’s SLI also provides necessary authorization if no MSA is on file with Yellow.

Slot (shipping) Compartment for containers; space on vessel for container.

Slot Charter (shipping) Carrier charters slot space on other carrier’s vessel.

Spot market (foreign exchange) The market for a commodity or foreign exchange available for immediate delivery.

Spot price (economics) A price quotation for immediate sale and delivery of a commodity or currency.

ST (shipping) 1 Short Ton = 2,000 lbs.

Stack Train (shipping) Containers placed two high on rail car.

Stacking Cone (shipping) Metal cone for stacking containers.

Standard international trade classification (SITC) (trade) One of a number of numerical commodity codes developed by the United Nations and used solely by international organizations for reporting international trade.

Stare decisis (law) A legal doctrine under which courts, in resolving current disputes, follow cases decided previously. This doctrine is followed in countries that adhere to common law principles. subrogation (insurance) The right of the insurer, upon payment of a loss, to the benefit of any rights against third parties that may be held responsible. This usually involves recoveries from carriers that handled the shipment.

Stevedore (shipping) Terminal operator who is designated to facilitate the operation of loading and discharging vessels and various terminal activities.

Storage Charge (shipping) Charge for goods held in railroad or other warehouses under fixed agreement for periods of time, and which is not included in other service arrangement.

Store Door Delivery (shipping) Movement of goods to the consignee´s place of business, customarily applied to movement by truck.

Stowage (shipping) Space in vessel where cargo is stowed.

Stuffing (shipping) Physical loading of cargo into carrier´s container.

Sue and labor (insurance) The responsibility of the assured to actions that would keep his insured loss at a minimum. temporary importation under bond (TIB) (customs) Temporary admission into the United States under a conditional bond for articles not imported for sale or for sale on approval. Certain classes of goods may be admitted into the United States without the payment of duty, under bond, for their exportation within one year from the date of the importation or when they are not imported for sale, or sale on approval. Generally, the amount of the bond is double the estimated duties.

Supply Vessel (shipping) Vessel that carries supplies from shore to platform.

Surcharges (shipping) Additional charges above ocean freight (See Add Ons).

Surveyor (shipping) One who is hired to verify damages.

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