Glossary: E

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E & OE - Errors and Omissions Excepted. A phrase accompanying the shipper's signature on an invoice, by which he or she disclaims final responsibility for typographical errors or unintentional omissions.

Economics of Sale - The term describes a company's ability to increase production efficiency by producing a larger volume of output while reducing costs.

E.C.M.C.A. - Eastern Central Motor Carriers Association.

Edge Protector - An angle piece fitted over the edge of boxes, crates, bundles and other packages to prevent

EDI - Acronym meaning" Electronic Data Interchange", which is the electronic or computer to computer, legitimate exchange of official business forms such as letters of credit, manifests and bills of lading.

EDIFACT - International data interchange standards sponsored by the United Nations. See UN/EDIFACT.

Electronic Commerce - Conducting business transactions and information exchange using automation and telecommunications without paper documents.

Electronic Data Interchange (EDI) - Computer to computer exchange of business data using standards jointly developed by standard groups such as American National Standards Institute (ANSI) or Electronic Data Interchange Agency.

Elevating - 1) A charge for services performed in connection with floating elevators; 2) Charges assessed for the handling of grain through grain elevators.

Elkins Act - An act of Congress (1903) prohibiting rebates, concession, mis-billing, etc. and providing specific penalties for such violations.

Embargo - 1) When freight is not accepted at certain points or via certain routes for particular destinations because of some emergency/problem at destination; 2) detention of vessels in port by order of government, usually issued in time of war/hostilities.

Eminent Domain - The sovereign power to take property for a necessary public use, with reasonable compensation.

Empty Repo - A legal signature usually placed on the reverse of a draft; signifies transfer of rights from the holder to another party.

Endorsement - A signature on the reverse of the negotiable instrument, primarily for the purpose oft transferring the holder's rights to another party. It constitutes a contract between the holder and all parties to the instrument. Each endorser orders the prior parties to fulfill the contract to his or her endorsee and also agrees with the endorsee that if they do not, he or she will.

Entry Documents - The documents required to secure the release of imported merchandise.

Equalization - A monetary allowance to the customer for picking up or delivering at a point other than the destination shown on the bill of lading.  This provision is covered by tariff publication.

Equipment Interchange Receipt (EIR) - Form used by parties delivering/receiving containers/container equipment, used for equipment control and damage purposes.

Estoppel - Legal document used in court of law to establish liability.

ETA - Estimated Time (date) of Arrival/ Estimated Time (date) of Availability

ETD - Estimated Time of Departure

ETS - Estimated Time (date) of Shipping

Ethylene - A gas produced by many fruits and vegetables that accelerates the ripening and aging process.

Etiologic Agents - As defined in the Hazardous Materials Regulations in 49 CFR, viable microorganisms or their toxins which cause/may cause human disease.

Euro - The common currency of the member countries of the European Union.  It became official legal tender for use by the citizens of the EU on January 1st, 2002.

Eurodollars - U.S. dollars placed on deposit in banks outside the United States; usually refers to deposits in Europe.

European Community - The European Common Market including: Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, and the United Kingdom. This is the largest trading block in the world.

E.W.I.B. - Eastern Weighing and Inspection Bureau.

Ex (Point of Origin) - From the point where the shipment begins movement, e.g. "Ex Factory", "Ex Mine" or "Ex Warehouse" See also "Terms of Sale".

Ex Dec - Contraction for Shipper's Export Declaration.

Ex-Dock - (From Dock), seller owns goods until they are unloaded on dock at port of discharge; selling price includes all costs so far plus cost of unloading from the vessel.

Ex-Factory - Seller owns the goods until they are picked up at his factory; the selling price is the cost of the goods.

Exception - Notation made when the cargo is received at the carrier's terminal or loaded aboard a vessel.  They show any irregularities in packaging or actual or suspected damage to the cargo. Exceptions are then noted on the bill of lading.

Exception Rate - A deviation from the class rate; changes are made to the classification

Exchange Permit - A government permit sometimes required by the importer's government to enable the importer to convert his or her own country's currency into foreign currency with which to pay a seller in another country.

Exchange Rate - The price of one currency in terms of another, the number of units of one currency which may be exchanged for one unit of another currency.

Exclusive Use - Carrier vehicles that are assigned to a specific shipper for it's exclusive use.

Exempt Carrier - Motor carrier engaged in for-hire transportation of commodities exempt from economic regulation by ICC under provision Interstate Commerce Act, it is generally agricultural commodities or seafood.

EXIM bank - The Export-Import Bank of the United States offers direct loans and guarantees loans to U.S exporters and to foreign buyers of U.S. goods.

Expiration Date - The final date upon which draft(s) under a letter of credit may be presented for negotiation.

Expiry Day - In foreign exchange options business, the last day on which an option can be exercised.

Explosives - Are defined in the Hazardous Materials Regulations in 49 CFR, any chemical compound, mixture or device, the primary or common purpose for which is to function by explosion; within the explosives definition there are further divisions into Class A, B, C and Blasting Agents.

Export - Shipment of goods to a foreign country.

Export Broker - An individual or firm which brings together buyers and sellers for a fee but does not take part in the actual sales transaction.

Export Commission House - An Organization, which for a commission, acts as a purchasing agent for a foreign buyer.

Export Control - To exercise control over exports for statistical and strategic purpose, Customs enforces export control laws for the U.S. Department of Commerce and other Federal agencies.

Export Declaration - A form required by the U.S. Treasury Department for all shipments and prepared by a shipper indicating the value, weight, destination and other basic information about an export shipment.

Export Letter of Credit - When importer has arranged with bank for letter of credit financing of purchases, he applies for issuance of individual letters of credit to cover purchase contracts as made.

Export License - A government document which permits the "licensee" to engage in the export of designated goods to certain destinations.  See "general and validated licenses".

Export Management Company (EMC) - A private firm that serves as the export department for several manufactures, soliciting and transacting export business on behalf of its clients in return for a commission, salary or retainer plus commission.

Export Rate - A rate published on traffic moving from an interior point to a port for transshipment to a foreign country.

Export Trading Company (ETC) - A firm set up for the purpose of exporting under the Export Trading Act of 1982 and is similar or identical to an export management company.

Export Wrapping - Method of packing household goods and personal effects for transportation overseas.  Usually involves heavier and more specialist materials.