Vocabulary No 1

1. Accounts: Money deposited for checking, savings or brokerage use.

2. Accrue: Gain, addition or increment.

3. Acknowledgement of receipt: A documented verification that goods have been received or
services have been rendered.

4. Act of God: is a legal term for events outside human control, such as sudden floods or other
natural disasters.

5. Admiralty law: is a distinct body of law which governs maritime questions and offenses.

6. Affreigment: is a contract between a ship-owner and another person, in which the ship-owner
agrees to carry goods for the charterer in the ship.

7. Allocate (to): to assign for particular purpose.

8. Amendment: is a formal or official change made to a law.

9. Arbitration: is a technique for the resolution of disputes outside the courts.

10. Arrival: the act of arriving.

11. Ascertain: to discover with certainty as through examination or experimentation.

12. Ashore: on land

13. Assess: Calculate or estimate the price or value of.

14. Assessment: an official valuation of property used as a basis for levying a tax.

15. Assignee: a party to which a transfer of property, rights or interest is made.

16. Assigment: a transfer of rights between two parties.

17. Bail: is some form of property deposited or pledged to a court.

18. Bailee: a person with whom some article is left usually pursuant to a contract.

19. Bank guarantee: a guarantee from a lending institution ensuring that the liabilities of a debt
will met.
20. Banking days: a day on which a bank is open to the public.
Ports Classification
Evolutive classification
First Generation Port: are the ports of the 60s, they only allowed the transfer of merchandise
between the sea and the land.
Second Generation Port: are the ports of the 70s, they had industrial areas, specialized traffics and
were more integrated.
Third Generation Port: are the ports that have logistical areas to add value to the merchandise,
specialized traffics, electronic data interchange and are a commerce center.
Administrative Classification
Landlord port: are the ports where the Port authority is the owner of the infrastructure, and the port
operator is the owner of the superstructure and provide the services.
Tool Port: are the ports where the port authority is the owner of the superstructure and infrastructure,
and the private companies provides the work force and the services.
Service Port: are the ports where the port authority is the owner of all the terminals and also provide
the services.
Other Classification
Dry Port: is a port located inland, doesnt have a coast, have a distribution center and have
equipment and installations to manipulate the merchandise.
Hub Port: are the ports that receive and distributes the merchandises of smaller ports and where the
biggest ship in the world can dock.