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…

Read More

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…

Read More

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…

Read More