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

In law, the intent to mislead or deceive. It does not include misleading by an honest, inadvertent or uncalled-for misstatement.

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BAF

The Bunker Adjustment Factor is an additional charge added to the base rate ocean freight cost reflecting the cost of fuel (called bunkers)to be used for the voyage. This charge is separated from the base rate freight cost because fuel…

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Bailee

A party having temporary custody of the property of another, such as a carrier or a warehouse.

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Bailment

A delivery of goods or personal property by one person (the bailer) to another (the bailee) on an express or implied contract and for a particular purpose related to the goods while in possession of the bailee, who has a…

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Balance of payments

A statistical summary of international transactions. These transactions are defined as the transfer of ownership of something that has economic value in monetary terms from residents of one country to residents of another. The transfer may include goods (tangibles), services…

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