Pommer & Partners   - International Marine Salvage And Commodity Traders
Your Partner for Damaged and Abandoned Cargoes

Shipping Dictionary

Essential shipping and salvage terms.



 "As is where is"

A term used to describe a sales transaction in which the seller offers goods in their present, existing condition to prospective buyers.


Dangerous goods

Dangerous goods (often called hazardous materials in the USA) may be pure chemicals, mixtures of substances, manufactured products or articles which can pose a risk to people, animals or the environment if not properly handled in use or in transport. 


General Average

A principle of maritime law where in the event of emergency, if cargo is jettisoned or expenses incurred, the loss is shared proportionately by all parties with a financial interest in the voyage.

Guidelines for the safe transport of containers

The Guide provides recommended best practices for ships, port facilities, and shippers in the loading and handling of cargo containers.


Incoterms

Incoterms are standard trade definitions most commonly used in international sales contracts. Devised and published by the International Chamber of Commerce. They define the respective roles of the buyer and seller in the arrangement of transportation and other responsibilities and clarify when the ownership of the merchandise takes place.


Sale by tender

Sale by Tender is like a silent auction. A property is marketed for sale with or without a guide price and there is a deadline for all offers. Anyone interested puts in their offer and the vendor is presented with these offers, which are private, to be considered on the day.


York - Antwerp Rules  (Rule of interpretation)

In the adjustment of general average the following Rules shall apply to the exclusion of any Law and Practice inconsistent there with. Except as provided by the Rule Paramount and the numbered Rules, general average shall be adjusted according to the lettered Rules.

 
 
 
 
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