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A-Z Dictionary of Export, Trade and Shipping Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

V

Vacuum Packing
A packaging technique that sucks all the air and moisture from a product, packing the goodsin a vacuum. This reduces the size of the product, allowing more goods to be packed.
Validation Rule
The validation rules are a subset of the business rules defining constraints on the logicaldata model. They are expressed in the definitions of entities, domains and attributes.
Validated License
A government document authorizing the export of commodities within the limitations set forth in the document.
Valuable Cargo
A consignment which contains one or more valuable articles.
Valuation Charge
Transport charges for certain goods, based on the value declared for the carriage of suchgoods.
Value Added Tax
Abbreviation: VAT
A form of indirect sales tax paid on products and services at each stage of production ordistribution, based on the value added at that stage and included in the cost to the ultimatecustomer.
Value Chain Management Definition
Maximising total performance and added value across an entire process by reviewing eachinternal and external operation, and the links between these operations.

The process will be reviewed in a systematic and standard way in order to optimise speed,certainty, and cost effectiveness for the parties involved.

The process review can be achieved through established procedures and existing techniquessuch as value chain analysis and activity based costing.

Vanning
See Stuffing
Vendee
Buyer.
Vendor
Seller.
Very Large Crude Carrier
Abbreviation: VLCC
A vessel designed for the carriage of liquid cargo in bulk with a loading capacity from 50.000till 250.000 DWT.
Vessel
  1. A floating structure designed for the transport of cargo and/or passengers.
  2. Boiler, drum.
Volatility Allowance
The largest difference in container availability taking into account past peaks in net demandafter having removed the trend in container demand during the repositioning trade-off period.
Volume
Size or measure of anything in three dimensions.
Volume Charge
A charge for carriage of goods based on their volume (air cargo).
Voucher
A receipt, entry or another document which establishes the accounts.
Voyage
A journey by sea from one port or country to another one or, in case of a round trip, to thesame port.
Voyage Charter
A contract under which the shipowner agrees to carry an agreed quantity of cargo from aspecified port or ports to another port or ports for a remuneration called freight, which iscalculated according to the quantity of cargo loaded, or sometimes at a lumpsum freight.
Voyage Number
Reference number assigned by the carrier or his agent to the voyage of the vessel.
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