A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
An impression made on gold and silverware introduced in the beginning of the fourteenth century in England to identify the quality of the metal used. harbor fees (shipping) Charges assessed to users for use of a harbor, used generally for maintenance of the harbor. See users fees. harbor master (shipping) An officer who attends to the berthing, etc. of ships in a harbor. hard loan (banking) A foreign loan that must be paid in hard money. hard money (currency) (general) (a) Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. (b) Coins, in contrast with paper currency, or soft money. (finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
harbor fees
(shipping) Charges assessed to users for use of a harbor, used generally for maintenance of the harbor. See users fees. harbor master (shipping) An officer who attends to the berthing, etc. of ships in a harbor. hard loan (banking) A foreign loan that must be paid in hard money. hard money (currency) (general) (a) Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. (b) Coins, in contrast with paper currency, or soft money. (finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
harbor master
(shipping) An officer who attends to the berthing, etc. of ships in a harbor. hard loan (banking) A foreign loan that must be paid in hard money. hard money (currency) (general) (a) Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. (b) Coins, in contrast with paper currency, or soft money. (finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hard loan
(banking) A foreign loan that must be paid in hard money. hard money (currency) (general) (a) Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. (b) Coins, in contrast with paper currency, or soft money. (finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hard money (currency)
(general) (a) Currency of a nation having stability in the country and abroad. Refers to currency that is accepted internationally and freely convertible. (b) Coins, in contrast with paper currency, or soft money. (finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(finance) Describes a situation in which interest rates are high and loans are difficult to arrange. synonymous with dear money. Harmonized System (HS) A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Harmonized System (HS)
A multipurpose international goods classification system designed to be used by manufacturers, transporters, exporters, importers, customs, statisticians, and others in classifying goods moving in international trade under a single commodity code. Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Developed under the auspices of the Customs Cooperation Council (CCC), an international Customs organization in Brussels, this code is a hierarchically structured product nomenclature containing approximately 5,000 headings and subheadings describing the articles moving in international trade. It is organized into 99 chapters arranged in 22 sections with the sections generally covering an industry (e.g., Section XI, Textiles and Textile Articles) and the chapters covering the various materials and products of the industry (e.g., Chapter 50--Silk; Chapter 55--Man-made Staple Fibers; Chapter 57--Carpets). The basic code contains 4-digit headings and 6-digit subheadings. (U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
(U.S.) The United States has added digits for tariff and statistical purposes. In the United States, duty rates are in the 8-digit level; statistical suffixes at the 10-digit level. The Harmonized System (HS) supplanted the U.S. Tariff Schedule (TSUSA) in January 1989. For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
For the United States, the HS numbers are the numbers that are entered on the actual export and import documents. Any other commodity code classification number (SIC, SITC, end-use, etc.) are just rearrangements and transformations of the original HS numbers. See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
See also Harmonized Tariff Schedule of the United States. Harmonized Tariff Schedule of the United States (HTS or HTSUS) (U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Harmonized Tariff Schedule of the United States (HTS or HTSUS)
(U.S.) An organized listing of goods and their duty rates which is used by U.S. Customs as the basis for classifying imported products and therefore establishing the duty to be charged and providing the U.S. Census with statistical information about imports and exports. The categorization of product listings in the HTSUS is based on the international Harmonized Commodity Description and Coding System developed under the auspices of the Customs Cooperation Council (Harmonized System, HS). Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Familiarity with the organization of the HTSUS facilitates the classification process. The tariff schedule is divided into various sections and chapters dealing separately with merchandise in broad product categories. These categories, for example, separately cover animal products, vegetable products, products of various basic materials such as wood, textiles, plastics, rubber, and steel and other metal products in various stages of manufacture. Other sections encompass chemicals, machinery and electrical equipment, and other specified or non-enumerated products. The last section, Section XXII, covers certain exceptions from duty and special statutory exceptions. In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
In Sections I through XXI, products are classifiable (1) under items or descriptions which name them, known as an eo nomine provision; (2) under provisions of general description; (3) under provisions which identify them by component material; or (4) under provisions which encompass merchandise in accordance with its actual or principal use. When two or more provisions seem to cover the same merchandise, the prevailing provision is determined in accordance with the legal notes and the General Rules of Interpretation for the tariff schedule. Also applicable are tariff classification principles contained in administrative precedents or in the case law of the U.S. Court of International Trade (formerly the U.S. Customs Court) or the U.S.Court of Appeals for the Federal Circuit Court (formerly the U.S. Court of Customs and Patent Appeals). The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
The Harmonized Tariff Schedules of the United States also contain two rates of duty for each commodity listed. Column 1 duty rates are low and apply to imports from countries that have achieved Most Favored Nation (MFN) trading status with the United States. Column 2 duty rates apply to imports from countries that do not have Most Favored Nation (MFN) trading status with the United States. See also classification; Harmonized System. Harter Act (shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Harter Act
(shipping) Legislation protecting a ship's owner against claims for damage resulting from the behavior of the vessel's crew, provided the ship left port in a seaworthy condition, properly manned and equipped. hatch (shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hatch
(shipping) The opening in the deck of a vessel which gives access to the cargo hold. haulage (shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
haulage
(shipping) The local transport of goods. Also the charge(s) made for hauling freight on carts, drays or trucks. Also called cartage or drayage. Hawley-Smoot Act See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Hawley-Smoot Act
See Smoot-Hawley Tariff Act of 1930. hazardous materials (shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hazardous materials
(shipping) (U.S.) A hazardous material is a substance or material which has been determined by the U.S. Secretary of Transportation to be capable of posing an unreasonable risk to health, safety, and property when transported in commerce and which has been so designated. Title 49, Code of Federal Regulations (U.S.) Transportation--Parts 100-199, govern the transportation of hazardous materials. Hazardous materials may be transported domestically, but they may be classified as Dangerous Goods when transported internationally by air. See also restricted article; dangerous goods. heavy lift (shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
heavy lift
(shipping) Articles too heavy to be lifted by a ship's tackle. heavy lift charge (shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
heavy lift charge
(shipping) A charge made for lifting (onloading or offloading) articles too heavy to be lifted by a ship's tackle. Usually requiring the use of heavy lift equipment at a port. heavy lift vessel (shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
heavy lift vessel
(shipping) A vessel with heavy lift cranes and other equipment designed to be self-sustaining in the handling of heavy cargo. hedge To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hedge
To offset. Also, a security that has offsetting qualities. Thus one attempts to "hedge" against inflation by the purchase of securities whose values should respond to inflationary developments. Securities having these qualities are "inflation hedges." See hedging; delta hedging. hedge ratio (finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hedge ratio
(finance/foreign exchange) The amount of an underlying instrument or the number of options which are needed to hedge a covered option. The hedge ratio is determined by the size of the delta. See delta; delta hedging. hedging (finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hedging
(finance/foreign exchange) A type of economic insurance used by dealers in commodities, foreign exchange and securities, manufacturers, and other producers to prevent loss due to price fluctuations. Hedging consists of counterbalancing a present sale or purchase by a purchase or sale of a similar commodity or of a different commodity, usually for delivery at some future date. The desired result is that the profit or loss on a current sale or purchase be offset by the loss or profit on the future purchase or sale. See also arbitrage; delta hedging. high density (shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
high density
(shipping) The compression of flat or standard bales of cotton to high density of approximately 32 pounds. This compression usually applies to cotton exported or shipped coast to coast. hitchment (shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hitchment
(shipping) The marrying of two or more portions of one shipment that originate at different geographical locations, moving under one bill of lading, from one shipper to one consignee. Authority for this service must be granted by tariff publication. hold (shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hold
(shipping) The space below deck in a vessel used to carry cargo. holder in due course (law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
holder in due course
(law) An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual's or legal entity's claim or defense against the instrument or document. A buyer, for example, who receives title to goods after remitting the contract price to the seller is a holder in due course, provided the buyer has no notice of any lien or other claim against the goods. A holder in due course is generally protected from the claims of third parties against the item transferred, and thus the only recourse of a third party is against the person that transferred the title, instrument, or other item to the holder in due course. hold for pickup (shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hold for pickup
(shipping) Freight to be held at the carrier's destination location for pickup by the recipient. hold harmless contract (law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hold harmless contract
(law) An agreement by which one party accepts responsibility for all damages and other liability that arise from a transaction, relieving the other party of any such liability. A commercial tenant, for example, may agree to hold a landlord harmless for all liabilities that could arise from injuries to customers who enter the premises. A guarantor may agree to guaranty a person's debt only if that person agrees to hold the guarantor harmless from all damages that may arise if the person fails to pay the debt. A hold harmless contract provides complete indemnity. See guaranty; indemnity; surety. honor (banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
honor
(banking) To pay or to accept a draft complying with the terms of credit. See bill of exchange. horizontal export trading company An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
horizontal export trading company
An export trading company which exports a range of similar or identical products supplied by a number of manufacturers or other producers. Webb-Pomerene Organizations, trade-grouped organized export trading companies, and an export trading company formed by an association of agricultural cooperatives are prime examples of horizontally organized export trading companies. house air waybill (HAWB) (shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
house air waybill (HAWB)
(shipping) A bill of lading issued by a freight forwarder for consolidated air freight shipments. In documentary letter of credit transactions HAWBs are treated exactly the same as conventional air waybills, provided they indicate that the issuer itself assumes the liability as carrier or is acting as the agent of a named carrier, or if the credit expressly permits the acceptance of a HAWB. See air waybill; bill of lading. house-to-house (shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
house-to-house
(shipping) A term usually used to indicate a container yard to container yard (CY/CY) shipment. hub and spoke routing (shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hub and spoke routing
(shipping) Aircraft routing service pattern that feeds traffic from many cities into a central hub designed to connect with other flights to final destinations. The system maximizes operating flexibility by connecting many markets through a central hub with fewer flights than would be required to connect each pair of cities in an extensive system. hull (shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hull
(shipping) The outer shell of a vessel usually made of steel. hump (shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hump
(shipping) That part of a rail track which is elevated so that when a car is pushed up on "the hump" and uncoupled it runs down on the other side by gravity. hundredweight pricing (shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
hundredweight pricing
(shipping) Special pricing for multiple-piece shipments traveling to one destination which are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z