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Supply contract

An agreement by which a seller promises to supply all of the specified goods or services that a buyer needs over a certain time and at a fixed price, and the buyer agrees to purchase such goods or services exclusively…

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Surcharge

An additional charge for services. Carriers typically assess surcharges for services that they provide, but for which the costs are not included in their base-rate freight prices. Typical transportation surcharges include congestion surcharges which compensate carriers for unusual long delays…

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Surety bond

A surety bond is a guaranty, usually issued by an insurance or surety company, that a particular party will perform according to a contract. In order to collect payment under such a bond, the beneficiary normally must prove actual default…

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Surveyor

An individual or company that acting as an independent third-party expert examines and ascertains the condition of goods or transport equipment (specially ships). Surveyors often participate in the insurance claim process by examining goods to determine the level of damage…

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Sustainability

In the context of operating a business, taking into account the social, environmental and economic impacts of business activities to make sure today’s needs can be met without compromising the needs of future generations. Examples of sustainable business practices include…

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