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Glossary of Trade Terms

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S
SDT - Shippers Declaration for the Transport (of Dangerous Goods).

Ship's Manifest - An instrument in writing containing a list of the shipments constituting the ship's cargo.

Shipment - Freight tendered to a carrier by one consignor at one place at one time for delivery to one consignee at one place on one bill of lading.

Shipper - Term used to describe an exporter (usually the seller).

Short-Shipped - Cargo manifested but not loaded.

SIC - Shippers Intermodal Weight Certificate.

Sight Draft - A draft payable upon presentation to the drawee. (Compare with Date Draft and Time Draft.)

Steamship Agent - A duly appointed and authorized representative in a specified territory acting on behalf of a steamship line or lines and attending to all matters relating to the vessels owned by his principals.

Steamship Line - A company usually having the following departments: vessel operations, container operations, tariff department, booking, outbound rates, inward rates, and sales. The company can maintain its own in-country offices to handle regional sales, operations, or other matters, or appoint steamship agents to represent them doing the same. Some lines have liner offices in several regions and appointed agents in others.

Stowage - The lading of cargo in a vessel in such a manner as to provide the utmost safety and efficiency for the ship and the goods it carries.

Strikes, Riots and Civil Commotion's - An insurance clause referring to loss or damage directly caused by strikers, locked-out workmen, persons' participation in labor disturbances, and riots of various kinds. The ordinary marine insurance policy does not cover this risk. Coverage against it can be added only by endorsement.

Subsidy - An economic benefit granted by a government to domestic producers of goods or services, often to strengthen their competitive position.

Sue & Labor Cause - A provision in marine insurance obligating the assured to do things necessary after a loss to prevent further loss and to act in the best interests of the insurer.
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