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Ss
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| Sales Agreement |
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A written document by which a seller agrees to convey property to a buyer for a stipulated price under specified conditions. |
| Sales Tax |
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A tax placed by a state or municipality on items at the time of their purchase.
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| Salvage |
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Compensation paid for the rescue of a ship, its cargo or passengers from a loss at sea; or the act of saving a ship or its cargo from possible loss; or property saved from a wreck or fire. |
| Samurai Bond |
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Bond issued on the Japanese market in yen outside Japan. |
| Sanction |
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An embargo imposed against an individual country by the United Nations-or a group of nations-in an effort to influence its conduct or its policies. |
| Seal |
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A mark or sign that is used to witness and authenticate the signing of an instrument, contract, or other document. |
| Seaworthiness |
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The fitness or safety of a vessel for its intended use. |
| Secured |
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Guaranteed as to payment by the pledge of something valuable. |
| Security |
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Property pledged as collateral. |
| Seizure |
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The act of taking possession of property. |
| Seller's Market |
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Exists when goods cannot easily be secured and when the economic forces of business tend to cause goods to be priced at the vendor's estimate of value. |
| Selling Rate |
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Rate at which a bank is willing to sell foreign exchange or to lend money. |
| Service a Loan |
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To pay interest due on a loan. |
| Service Commitments |
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Pickup and/or delivery commitments agreed to by carrier and shipper. |
| Settlement Date |
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The date on which payment for a transaction must be made. |
| Shared Foreign Sales Corporation |
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A foreign sales corporation consisting of more than one and less than 25 unrelated exporters. |
| Ship's Manifest |
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A list of the individual shipments constituting the ship's cargo. |
| Ship's Papers |
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The documents a ship must carry to meet the safety, health, immigration, commercial and customs requirements of a port of call or of international law. |
| Ship's Stores |
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The food, medical supplies, spare parts and other provisions carried for the day-to-day running of a vessel. |
| Shipment |
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Cargo tendered by on shipper, on one bill of lading, from one point of departure, for one consignee, to one destination, at one time, via a single port of discharge. |
| Shipment Record |
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A repository of information for each shipment that reflects all activity throughout each step of the shipment life cycle. |
| Shipped on Deck |
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Annotation in a bill of lading that the goods have been shipped on the deck of a vessel. |
| Shipper |
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The company or person who ships cargo to the consignee. |
| Shipping Order |
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Instructions of shipper to carrier for forwarding of goods. |
| Short Form Bill of Lading |
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A bill of lading on which the detailed conditions of transportation are not listed in full. |
| Short of Exchange |
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The position of a foreign exchange trader who has sold more foreign bills than the quantity of bills he or she has in possession to cover sales. |
| Short Weight |
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Notation of a shipment's weight as less than noted on the original bill of lading, indicating loss during shipment. |
| Shortage |
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A deficiency in quantity shipped. |
| Signature Service |
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A service designed to provide continuous responsibility for the custody of shipments in transit, so named because a signature is required from each person handling the shipment. |
| Sling |
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A contrivance into which freight is placed to be hoisted into or out of a ship. |
| Slip |
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A vessel's berth between two piers. |
| Small Package Service |
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A specialized service to guarantee the delivery of small parcels within specified express time limits. |
| Smuggling |
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Conveying goods or persons across borders without permission. |
| Soft Currency |
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The funds of a country that are controlled by exchange procedures, thereby having limited convertibility into gold and other currencies. |
| Soft Loan |
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A loan made with easy or generous terms such as low or no interest and long payback. |
| Sovereign Credit |
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A borrowing guaranteed by the government of a sovereign state. |
| Sovereign Risk |
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The risk to a lender that the government of a sovereign state may default on its financial obligations. |
| Special Rates |
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Rates that apply to cargo traffic under special conditions and usually a limited number of cities. |
| Specific Commodity Rate |
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Rate applicable to certain classes of commodities, usually commodities moving in volume shipments. |
| Specific Rate of Duty |
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A specified amount of duty per unit of weight or other quantity. |
| Spot Cash |
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Immediate cash payment in a transaction. |
| Spot Exchange |
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The purchase and sale of foreign exchange for delivery and payment at the time of the transaction.
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| Spot Exchange Rate |
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The price of one currency expressed in terms of another currency at a given moment in time. |
| Spot Market |
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The market for a commodity or foreign exchange available for immediate delivery. |
| Spot Operations |
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Foreign exchange dealing in which settlement of the mutual delivery commitments is made at the latest two days after the transaction was carried out. |
| Spot Price |
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A price quotation for immediate sale and delivery of a commodity or currency. |
| Spot Rate |
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The rate for purchase or sale of a commodity for immediate delivery. |
| Spotting |
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The placing of a container where required to be loaded or unloaded. |
| Standard of Living |
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The level of material affluence of a nation as measured by per capita output. |
| Standby Commitment |
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A bank commitment to loan money up to a specified amount for a specific period, to be used only in a certain contingency. |
| Steamship Indemnity |
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An indemnity received by an ocean carrier issued by a bank indemnifying him for any loss incurred for release of goods to the original bill of lading. |
| Stevedore |
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A person having charge of the loading and unloading of ships in port. |
| Storage |
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The keeping of goods in a warehouse. |
| Storage Demurrage |
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A charge made on property remaining on the dock past the prescribed "free-time period". |
| Storage in Transit |
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The stopping of freight traffic at a point located between the point of origin and destination to be stored and reforwarded at a later date. |
| Store-Door Delivery |
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The movement of goods to the consignee's place of business, customarily applied to movement by truck. |
| Stowage |
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The arranging and packing of cargo in a vessel for shipment. |
| Stowage Instructions |
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Specific instructions given by the shipper or his agent concerning the way in which cargo is to be stowed. |
| Stowplan |
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A diagram showing how cargo containers have been placed on a vessel; also know as stowage plan. |
| Straight Bill of Lading |
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A nonnegotiable bill of lading that designates a consignee who is to receive the goods and obligates the carrier to deliver the goods to that consignee only. |
| Strategic Level of Controls |
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Commodity groupings used for export control purposes. |
| Strike Clause |
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An insurance clause included in policies to cover against losses as a result of strikes. |
| Stripping |
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The unloading of cargo from a container; also called devanning. |
| Stuffing |
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The loading of cargo into a container. |
| Subsidiary |
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Any organization more than 50 percent of whose voting stock is owned by another firm. |
| Subsidy |
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A grant paid by a government to producers of goods to strengthen their competitive position. |
| Supply Access |
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Assurances that importing countries will, in the future, have fair and equitable access at reasonable prices to supplies of raw materials and other essential imports. |
| Surcharge |
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A charge above the usual or customary charge. |
| Surety |
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A bond, guaranty, or other security that protects a person, corporation, or other legal entity in cases of anothers default in the payment of a given obligation, improper performance of a given contract, malfeasance of office, and others. |
| Survey |
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To examine the condition of a vessel for purposes of establishing seaworthiness and/or value. |
| Sushi Bond |
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Eurodollar bonds issued by Japanese corporations on the Japanese market for Japanese investors. |
| Swap (transaction) |
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A spot purchase of foreign exchange, fixed or floating rate funds, or assets with simultaneous forward sale or vice versa. |
| Switch Arrangements |
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A form of counter trade in which the seller sells on credit and then transfers the credit to a third party. |
