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Glossary of Trade Terms

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P
PA - (See Particular Average)

Part Charter - Where part of an airline's scheduled flight is sold as if it were a charter in its own right. Often incorrectly used as a synonym for split charter.

Part Load Charter - Where a part of an aircraft's load is discharged at one destination and a part of it at another. This is distinct from a split charter where a number of consignments are carried to the same destination. Inbound, part loads are treated as single entity charters under the regulations in most countries.

Particular Average (PA) - Partial loss or damage to goods.

Perils of the Sea - Fortuitous accidents or casualties peculiar to transportation on navigable water, such as sinking, collision of vessel, striking a submerged object, or encountering heavy weather or other unusual forces of nature.

Perishables - Any cargo that loses considerable value if it is delayed in transportation. This usually refers to fresh fruit and vegetables.

Phytosanitary Inspection Certificate - A certificate issued by an exporting countries' Department of Agriculture indicating that a shipment has been inspected and is free of harmful pests and plant diseases.

Pilferage - As used in marine insurance policies, the term denotes petty thievery-the taking of small parts of a shipment-as opposed to the theft of a whole shipment or large unit. Many ordinary marine insurance policies do not cover against pilferage, and when this coverage is desired it must be added to the policy.

Port Marks - An identifying set of letters, numbers, or geometric symbols followed by the name of the port of destination that are placed on export shipments. Foreign government requirements may be exceedingly strict in the matter of port marks.

Port of Discharge - A port where a vessel is off-loaded and cargo discharged.

Port of Entry - A port at which foreign goods are admitted into the receiving country.

Port of Loading - A port where cargo is loaded aboard the vessel, lashed, and stowed.

Prepaid Freight - Generally speaking, freight charges both in ocean and air transport may be either prepaid in the currency of the country of export or they may be billed collect for payment by the consignee in his local currency. On shipments to some countries, however, freight charges must be prepaid because of foreign exchange regulations of the country of import or rules of steamship companies or airlines.

Prima Facie - A Latin term frequently encountered in foreign trade that means "on first appearance." When a steamship company issues a clean bill of lading, it acknowledges that the goods were received "in apparent good order and condition" and this is said by the courts to constitute prima facie evidence of the conditions of the containers; that is, if nothing to the contrary appears, it must be inferred that the cargo was in good condition when received by the carrier.

Proof of Delivery (POD) - The delivery receipt copy of a freight bill indicating the name of the person who signed for a package with the date and time of delivery.
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