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U
UCP
See Uniform Customs and Practice for Documentary Credits
UFC
See Uniform Freight Classification.
UN/EDIFACT
United Nations EDI for Administration, Commerce and Transport.
EDI Standards are developed and supported by the UN for electronic
message (data) interchange on an international level.
Ullage
Free space above a liquid contained in a tank, drum or tank-container,
expressed as a percentage of the total capacity. Ullage is often used to
leave room for possible expansion of the liquid.
Ultimate Consignee
Party who has been designated on the invoice or packing list as the
final recipient of the stated merchandise.
Ultra Large Crude Carrier
Abbreviation: ULCC
A vessel designed for the carriage of liquid cargo in bulk with a loading
capacity from 250.000 till 500.000 DWT.
Unaccompanied Baggage
Luggage not accompanied by a passenger.
Unclaimed Freight
Freight that has not been called for or picked up by the consignee
or owner.
Unclean Bill
A Bill of Lading that has been claused by the carrier to show that
the goods were not in sound condition when received.
UNCTAD
United Nations Conference for Trade and Development
Under Deck Tonnage
The cubic capacity of the vessel below the tonnage deck in measurement
tons of 100 cubic feet per ton.
Under Insurance
Insuring for less than the full value of the subject matter insured.
Underbond Export Entry
A document lodged with Customs to remove underbond goods from a Customs
warehouse for the purpose of exportation.
Underbond Goods
Imported goods on which duty is unpaid or locally produced excisable
goods (eg alcohol, tobacco or petroleum) on which excise duty has not been
paid.
Undercarriage
1. A supporting frame or structure of a wheeled vehicle.
2. The landing gear of an aircraft.
Undercarrier
A carrier in a conference or consortium who carries less cargo than
the allotment distributed to him.
Undercharge
To charge less than the proper amount.
Underwriter
One who agrees to compensate another for loss from an insured peril
in consideration for payment of a premium.
Underwriting Agent
One who acts for an underwriter either in accepting business on his
behalf (e.g. a company underwriting agent) or in taking care of his financial
affairs in relation to underwriting (eg. a Lloyd’s underwriting agent).
Unearned Premium
Premium already paid to an underwriter which is in respect of a period
when he was not at risk.
Uniform
The in 1993 revised rules of the International Chamber of Commerce
(ICC) governing a letter of credit issued in respect of goods shipped applicable
as from 1-1-1994.
Uniform Customs and Practices for Documentary Credits
Abbreviation : UCP
Rules for letters of credit drawn up by the Commission on Banking Technique
and Practices of the International Chamber of Commerce in consultation
with the banking associations of many countries. This is the most frequently
used standard for making payments in international trade; e.g., paying
on a Letter of Credit. It is most frequently referred to by its shorthand
title: UCP No. 500. This revised publication reflects recent changes in
the transportation and banking industries, such as electronic transfer
of funds.
See Terms of Payment
Uniform Freight Classification
Abbreviation : UFC
Unit Load
A number of individual packages bonded, palletised or strapped together
to form a single unit for more efficient handling by mechanical equipment.
Unit Load Device
Abbreviation: ULD
1. Any type of container or pallet, in which a consignment can be
transported by air whether or not such a container is considered aircraft
equipment.
2. Any type of air freight container, aircraft container, aircraft
pallet with a net, or aircraft pallet with a net over an igloo.
Unit Train
A train of a specified number of railcars, perhaps 100, which remain
as a unit for a designated destination or until a change in routing is
made.
Unmanned Machinery Spaces
A space where alarm bells are installed on the bridge of a ship to
trace or rectify any machinery faults. The computerized devices will report
any fault immediately it appears and the engineers on board can attend
to the necessary ramifications.
Uniform Customs and Practice for Documentary Credits
Published by the International Chamber of Commerce. This is the most
frequently used standard for making payments in international trade; e.g.,
paying on a Letter of Credit. It is most frequently referred to by its
shorthand title: UCP No. 500. This revised publication reflects recent
changes in the transportation and banking industries, such as electronic
transfer of funds.
Abbreviation : UCP
United Nations Conference on Trade and Development
Abbreviation: UNCTAD
A United Nations agency whose work in Shipping includes the liner code
involving the sharing of cargoes between the Shipping lines of the importing
and exporting countries and third countries in the ratio 40:40:20.
United Nations Dangerous Goods Number
Abbreviation: UNDG Number
The four-digit number assigned by the United Nations Committee of Experts
on the Transport of Dangerous Goods to classify a substance or a particular
groups of substances.
Note: The prefix 'UN' must always be used in conjunction with these
numbers.
United Nations Economic Commission for Europe
Abbreviation: UN/ECE
The UN/ECE is one of a number of Economic and Social Commissions established
by the General Assembly of the United Nations. Despite its name it embraces
both Europe and North America. The UN/ECE comprises twenty nine core member
states, as well as any country which is a member of the United Nations
and which applies under Article 11 of the United Nations constitution for
delegate status. The aim is to advance the economic development of Europe
and associated countries through trade facilitation and common agreements.
United Nations Layout Key
Abbreviation: UNLK
A standard (ISO6422) which lays down the basic principles for the design
of the image area on documents for use in international trade.
United Nations Standard Message
Abbreviation: UNSM
A collection of structured data that is exchanged to convey information
related to a specific transaction between partners engaged in electronic
data interchange. messages are composed of logically grouped segments required
for the type of message transaction covered.
Note: A set of segments in the order specified in a message directory
starting with the message header and ending with the message trailer (ISO9735).
Unit Train
A train of a specified number of railcars, perhaps 100, which remain
as a unit for a designated destination or until a change in routing is
made.
Unitization
1. The consolidation of a quantity of individual items into one large
shipping unit for easier handling.
2. Loading one or more large items of cargo onto a single piece of
equipment, such as a pallet.
Unloading
Removal of a shipment from a vessel.
Unseaworthiness
The state or condition of a vessel when it is not in a proper state
of maintenance, or if the loading equipment or crew, or in any other respect
is not ready to encounter the ordinary perils of sea.
UN/EDIFACT
United Nations EDI for Administration, Commerce and Transport. EDI
Standards are developed and supported by the UN for electronic message
(data) interchange on an international level.
U.S. Consular Invoice
A document required on merchandise imported into the United States.
U.S. Effective Controlled Fleet
That fleet of merchant ships owned by United States citizens or corporations
and registered under flags of "convenience" or "necessity" such as Liberia
or Panama. The term is used to emphasize that, while the fleet is not U.,$.-flag,
it is effectively under U.S. control by virtue of the ship's owners and
can be called to serve U.S. interests in time of emergency.
Utilisation Rate
The quotient of used capacity and available capacity.
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