Glossary

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Category	Glossary	Explain
L	L/B	Land Bridge.
	L/C	Letter of Credit.
	Lash Down	A method of securing cargo inside the hold or on deck of a vessel. Usually done with cables.
	LBS	Pounds.
	LCL	Less than Container Load.
	Letter of Credit	The Letter of Credit is a financial Instrument issued by an importer's bank (opening bank, on behalf of the importer). The opening bank substitutes its own credit for that of the importer, and undertakes a commitment to designated beneficiary (the exporter) to pay a stated amount within a stated time frame, provided that the exporter complies with all the terms and conditions of the Letter of Credit.
	Limits of Liability	The extent to which carrier is liable for loss or damage to a particular shipment.
	Loss and Damage Claim	This document is used to claim insurance compensation for goods lost or damaged during exportation. The items lost or damaged must be fully described. Supporting documentation would include copies of the Commercial Invoice, Bill of Lading, and Insurance Certificate.
	LRD	Last Receiving Date.
	LT	Long Ton (2,249 Pounds).
	LTL	Less than Trailer Load.

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