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International Transportation Glossary: L

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Label
A piece of metal, paper or other materials which is attached to a product in order to describe its contents, attributes, ownership and such.

 

Lash
The use of different materials such as ropes, chains or wires to hold cargo in a desired arrangement.

 

Last In First Out (LIFO)
An approach which supports the use or sell of products most recently received (last in) first.Less than Container Load (LCL)

  1. A generic term referencing cargo intended for transportation in a container in cases where the forwarder is holding the responsibility of packing and/or unpacking the container.
  2. In operational scnerios the term LCL container is refering to containers due for shipping which contain multiple consignments.

Letter of Credit (L/C)
A printed guarantee by an issuing bank given to the beneficiary (the seller) by the instructions of the applicant (the buyer) to pay an agreed amount of money within a detrmined time limit and under decided documanted conditions.

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