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FrançaisThe United Nations Commission on International Trade Law is a United Nations agency based in Vienna, specializing in the development of model legal instruments and conventions in the area of international trade law. Most notable success is perhaps the so-called…
Read MoreUnclaimed freight
Freight that has not been called for or picked up by the consignee or owner.
Read MoreUnconfirmed letter of credit
A documentary letter of credit where the advising bank makes no commitment to pay, accept or negotiate. See letter of credit; silent confirmation.
Read MoreUndercarrier
A carrier which has been subcontracted to carry out part of the transport operation. This term is most commonly used with non-vessel operating common carriers, which contract for carriage with the shipper and subcontract for the actual transportation with a…
Read MoreUnenforceable contract
A contract that is valid, but which the court will not enforce because of some defect such as nondisclosure, an extraordinary event or other legislation.
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