A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment such as a note, L/C, or other formal written evidence of indebtedness.
OPEN POLICY
A cargo insurance policy that is an open contract; e.g., it provides protection for all shipments in transit within a specified geographic trade area for a limited period of time. It is referred to as "open" because it does not require reporting of individual shipments. Summary or grouped reporting requirements vary with different policies.
Oncarriage
The carriage of goods (containers) by any mode
of transport to the place of delivery after discharge
from the ocean vessel (main means of transport)
at the port (place) of discharge.
One Stop Shop
An organisation, which provides all needed requirements
in one location.
Open Top Container
A freight container similar in all respects to
a general purpose container except that it has
no rigid roof but may have a flexible and movable
or removable cover, for example one made of canvas
or plastic or reinforced plastic material normally
supported on movable or removable roof bows.
O/R
Owner's Risk.
Out of Gauge Cargo
Cargo which dimensions are exceeding the normal
dimensions of a 20 or 40 feet container, e.g.
overlength, overwidth, overheight, or combinations
thereof.
Outturn Report
Written statement by a stevedoring company in
which the condition of cargo discharged from a
vessel is noted along with any discrepancies in
the quantity compared with the vessel's manifest.
Overheight Cargo
Cargo, exceeding the standard height.
Overlength Cargo
Cargo, exceeding the standard length.
Overwidth Cargo
Cargo, exceeding the standard width.
Owner
The legal owner of cargo, equipment or means of
transport.
