House Air waybill issued by carrying airlines' agent, normally freight forwarder.

Cargo policy clause that continues coverage on goods during deviation, delay, re-shipment, and transshipment, or any other variation in normal transit beyond the shipper's control. Marine Surveyor - Specialist who determines the nature, extent and cause of loss and/or damage.

An abbreviation for third party logistics providers that provide warehousing, distribution and transport services.

An abbreviation for Fourth Party Logistics invented by Anderson Consulting. Fourth party logistics providers pool various product and supply chain flows together for their clients.

Giving up the proprietary rights in insured property to the Underwriter in exchange for payment of a constructive total loss.

In marine insurance, a form issued to acknowledge that insurance is in effect for a specific shipment. Usually issued to a consignee by the shipper or someone acting on their behalf, such as a freight forwarder. The issuer may not have details of the actual coverage provided by the policy.

The actual value of the subject matter at the time of loss. This is the cost to replace the merchandise less depreciation.

An actual total loss occurs when (1) the insured property is completely destroyed or (2) the Assured is irretrievably deprived of the insured property or (3) cargo changes in character so that it is no longer the thing that was insured or (4) a ship is posted "missing" at Lloyd's, in which case both the ship and its cargo are [..]

Insurance which must be placed in a domestic (local) insurance market with an appropriately licensed insurance company made necessary by local country or state laws and regulations which mandate such coverage.

Latin for "according to the value." 1. An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume. A percentage of that value is charged, for example, 5% ad valorem. 2. A freight rate set at a certain percentage of the value of an art [..]