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P & I - Abbreviation for Protection and Indemnity, an insurance term.

Packed By Owner (PBO) - Cartons packed by the owner of the belongings, the client.   Generally, insurance companies refuse to insure goods packed by their owners.

Packers - The individuals responsible for packing, wrapping and loading the goods at origin and unpacking, unwrapping and unloading at destination.

Packing Certificate - A document signed by the shipper confirming the services that were rendered. Services may include packing, unpacking, extra labor, appliance servicing, etc.

Packing Credit - A monetary advance granted by a bank in connection with shipments of storable goods guaranteed by the assignment of the payment expected later or under a documentary letter of credit.

Packing List - A list showing the number and kinds of items being shipped as well as any other information needed for transportation purposes.

PADAG - Abbreviation for Please Authorize Delivery Against Guarantee.     A request from the consignee to the shipper to allow the carrier or agent to release the cargo against a guarantee, either bank or personal. Made when the consignee is unable to provide the original bill of lading.

Pallet - A platform used to secure material for ease in handling and storing. It is also used to consolidate small packages into a unitized load.

• 463L SYSTEM -Aircraft pallets, nets, tie down, and coupling devices, facilities, handling equipment, procedures, and other components designed to interface with military and civilian aircraft cargo restraint systems.
• WAREHOUSE -A two-deck platform, usually wooden, used for handling several packages as a unit.

Palletization - System for shipping goods on comparatively lightweight, double-decked wooden platforms called pallets; permits shipment of multiple units as one unit.

Paired Ports - A U.S. Customs program wherein at least two designated Customs ports will enter cargo that arrives at either port without the necessity of an in-bound document.

Paper Ramp - A technical rail ramp, used for equalization of points not actually served.

Paper Rate - A published rate that is never used, because no freight actually moves under it.

Parcel Receipt - An arrangement whereby a steamship company, under rules and regulations established in the freight tariff of a given trade, accepts small packages at below the minimum bill of lading, and issues a parcel receipt instead of a bill of lading.

Parol - Oral expression. A parol contract, for example, is a verbal contract only and has not yet been put into writing by the parties involved.

Partial Shipment- Under letters of credit, one or more shipments are allowed by the phrase partial shipment permitted.

Particular Average - See Insurance, Particular Average.

Patent - A government grant of certain rights given to an investor for a limited time in exchange for the disclosure of the invention. The most important of these rights is that the patented invention can be made, used or sold only with the authorization of the patent owner.

Payee - The party that is named in an instrument as the beneficiary of the funds. Under letters of credit, the payee is either the drawer of the draft or a bank.

Payer - The party responsible for the payment as evidenced by the given instrument.  Under letters of credit, the payer is the party on whom the draft is drawn, usually the drawee bank.

Payload - In freight transportation, profitable cargo.

PEFCO - Private Export Funding Corporation. An organization that lends money to foreign buyers so that they may finance exports from the United States to another country.

Per - Latin word meaning by, 1) means of, 2) according to.

Per Diem - Latin term meaning 1) by the day, 2) daily charge by rail carriers for use of railcars by any other rail carriers.

Per Diem Allowance - An allowance paid daily instead of actual expenses for lodging, meals and related incidental expenses associated with orders.

Performance Bond - Bond executed in connection with contract securing performance/fulfillment of terms.

Perils of the Sea - Fortuitous accidents or casualties, peculiar to transportation on navigable water, such as stranding, sinking, collision of the vessel, striking a submerged object or encountering heavy weather or other unusual forces of nature.

Perishable Freight - Commodities subject to rapid deterioration or decay (fresh fruits and vegetables, dairy products, meats, fish) which require special protective services in-transit like refrigeration, heating, ventilation.

Permanent Change of Station (PCS) - A permanent transfer from one duty station to another.

Permanent Storage - Household goods storage in a warehouse for an extended period of time.

Permissive Temporary Duty (TDY) - After receiving PCS orders, service members can be approved for up to ten days for a house hunting trip prior to the move. Although service members are not charged for these days of leave, they are not eligible for travel reimbursement during this time.

Permits - Authority granted by ICC to contract carriers by motor vehicle or water and freight forwarders to operate in interstate commerce.

Phytosanitary Inspection Certificate - A certificate issued by the U.S. Department of Agriculture to satisfy import regulations for foreign countries, indicating that a U.S. shipment has been inspected and is free from harmful pests and plant diseases.

Pickup - The act of calling for freight by truck at the consignor's shipping platform.

Pier - The structure that is situated perpendicular to the shoreline to which a vessel is secured during the loading and/or unloading of cargo.

Pier-to-House - A shipment that is loaded into a container at the pier or terminal, thence to the consignee's facility.

Pier-to-Pier - Containers loaded at port of loading and discharged at port of destination.

Piggy Packer - A mobile container-handling crane, which is used for loading and unloading containers to/from railcars.

Piggyback - A transportation agreement in which truck trailers with their loads are moved by train to a destination. Also known as Rail Pigs.

Pilferage - The theft of part of the contents of a shipping package.

Place of Delivery - The location at which the cargo leaves the care and custody of the carrier.

Place of Receipt - The place where cargo enters the care and custody of a carrier.

Plimsoll Mark - A serious of horizontal lines painted on the exterior of a ship marking the level which must remain above the surface of the water for the ship to be stable.

POD - Abbreviation for:

• Port of Discharge
• Port of Destination
• Proof of Delivery. A document required from the carrier or driver for proper payment.

POE - Abbreviation for Port of Entry. The port where your goods will arrive. Can differ from the final destination.

POL - Abbreviation for:

• Port of Loading
• Petroleum, Oil, and Lubrication

Political Risk - In export financing the risk of loss due to such causes as currency inconvertibility government action preventing entry of goods, expropriation, confiscation, war, etc.

Pomerene Act, The - Also known as U.S. Federal Bill of Lading Act of 1916. U.S. federal law enacting conditions by which a B/L may be issued. Penalties for issuing 8/L's containing false data include monetary fines and/or imprisonment.

Point of Origin - The station at which a shipment is received by a carrier from the shipper.

Port - A harbor or haven where ships may anchor or that side of the vessel on the left had of a person who stands on board facing the bow (front) of the vessel.

Port Authority - A state or local government that owns, operates or otherwise provides wharf, dock and other terminal investments at ports.

Port of Call - A port were a ship receives or discharges cargo and/or passengers.

Port Charges - Charges assessed or services performed at ports, including lighterage, pilotage, towage, harbor dues, dockage and wharfage.

Port of Debarkation (POD) - The geographic point at which cargo or personnel are discharged. May be a seaport or aerial port of debarkation. For unit requirements, it may or may not coincide with the destination.

Port of Embarkation (POE) - The geographic point in a routing scheme from which cargo or personnel depart. May be a seaport or aerial port from which personnel and equipment flow to port of debarkation. For unit and non-unit requirements, it may or may not coincide with the origin.

Port of Entry (POE) - A port where foreign goods are admitted into a country. Ports of entry are officially designated by the country. May also refer to border stations maintained by some states to verify truck compliance with state laws.

Port of Exit - The location at which cargo is loaded and leaves the country.

Pool - A continuous supply of containers at a specific location to facilitate continuous volume loading.

Pooling Agreement - Dividing of revenue/business among two or more carriers in accordance with previous  contracts/agreements.

Pratique Certificate - Lifts temporary quarantine of a vessel; granted pratique by health officers.

Predatory Pricing - Temporary pricing action by one firm to point below variable costs that has effect of removing competing firm from market.

Prepaid (Ppd.) - Freight charges paid by the consignor, the shipper.

Private Carrier - A carrier that provides transportation service to the firm that owns or leases the vehicles and does not charge a fee. Private motor carriers may haul at a fee for wholly owned subsidiaries.

Pro Forma - Latin term meaning For the Sake of Form. When used with the title of a document, the term refers an informal document presented in advance of the arrival, or preparation of the required document, in order to satisfy a customs requirement.

Pro Forma Invoice - An invoice provided by a supplier prior to shipment of merchandise, informing the buyer of the kinds and quantities of goods to be sent, their value, and important specifications (weight, size, etc.)

Pro Number - Any progressive or serial number applied for identification to freight bill, bills of lading, etc.

Pro Rata - Latin term meaning In Proportion.

Product Liability - Liability imposed for damages caused by accident and arising out of goods/products manufactured, sold, handled or distributed by insured or others trading under his name.

Project License - A license that authorizes large-scale exports of a wide variety of commodities and technical data for specified activities.

Project Rate - Single tariff item, established to move multiple commodities needed for a specified project, usually construction.

Proof Of Delivery - Copy of waybill signed by consignee at time of delivery as receipt.

Proportional Rate - Lower than normal rate on segment of through movement to encourage traffic or capture competitive traffic, may be percentage of standard rate or flat rate that is lower between given points.

Protest - The means by which an importer, consignee, or other designated party may challenge decisions. This action is generally taken regarding the dutiable status that U.S. Customs has assigned to specific imported goods.

Public Service Commission - Name that is typically given to a State body that has control or regulates public utilities.

Public Warehouse - Storage place renting space to anyone desiring it; there are five types: 1) ordinary or merchandise 2) commodity 3) household goods, 4) cold storage 5) field or branch. Some states regard public warehouses as public utilities and fix their rates.

Publishing Agent - An individual that has been authorized by a transportation line to publish tariffs or rates, rules and regulations for their account.

Pulp Temperature - A procedure by which a carrier tests the temperature of the internal flesh of refrigerated cargo to assure that the temperature at the time of shipment falls within the prescribed temperature range.

Pup - A short semi-trailer used jointly with a dolly and another semi-trailer to create a twin trailer.

Purchase Order - Form used by purchaser when placing order for merchandise or supplies.

Purchasing Agent - An agent who purchases goods in his or her own country on behalf of foreign importers, such as government agencies or large private concerns.

Put Option - A contract that entitles one party to sell a specified amount of goods, commodities, security or foreign exchange to another party at a fixed price that was stated in the contract.