Business in China | Import and Export Glossary | Shipping Terms - Export Glossary with incoterms for your business in China

Import and Export Glossary with Letter U

UKACC : United Kingdom Air Cargo Club.

ULD : Unit Load Device. Pallet or Container for freight.

Unclean Bill of Lading : A bill containing reservations as to the good order and condition of the goods, or the packaging, or both. Examples "bags torn;" "drums leaking;" "one case damaged;" "rolls chafed."

Unitisation : The packing of single or multiple consignments into ULDs or pallets.

Universal Postal Union : Organization which negotiates international mail charges.

Import and Export Glossary with Letter V

Valuation Charges : Transportation charges assessed shippers who declare a value of goods higher than value of carrier's' limits of liability.

VAT (Value-Added Tax) : A sales or consumption tax which the end user pays. Typically, this is a "hidden" tax, added to the list price of the goods in question.

Ves. : Vessel

Visa : An invoice properly validated by the Minister of Trade in regard to quota entries.

Volume Weight : Used when calculating air freight when the size of the carton is greater than the average weight, calculated by multiplying the length times the width times the height and dividing by 166.