Shipping terms and Chartering glossary

Term Meaning
Embargo A prohibition upon exports or imports, either with specific products or specific countries.
Entry Form The document that must be filed with Customs to obtain the release of imported goods and to allow collection of duties and statistics. Also called a Customs Entry Form or Entry.
Equipment The rolling stock carriers use to facilitate the transportation services that they provide, including containers, trucks, chassis, vessels, and airplanes, among others.
Exception Rate A deviation from the class rate; changes (exceptions) made to the classification.
Exclusive Patronage Agreements A shipper agrees to use only a conference's member liner firms in return for a 10 to 15 percent rate reduction.
Expediting Determining where an in-transit shipment is and attempting to speed up its delivery.
Export Broker An enterprise that brings together buyer and seller for a fee, then eventually withdraws from the transaction.
Export License A document secured from a government authorizing an exporter to export a specific quantity of a controlled commodity to a certain country. An export license is often required if a government has placed embargoes or other restrictions upon exports.
Export Sales Contract The initial document in any international transaction; it details the specifics of the sales agreement between the buyer and seller.