24-Hour Rule

24-Hour Rule :

24-Hour Rule

An amendment to the U.S. Trade Act of 2002 requiring that sea carriers and NVOCCs (Non-Vessel Operating Common Carriers) provide U.S. Customs and Border Protection (CBP) with detailed descriptions of the contents of sea containers bound for the United States 24 hours before the container is loaded on board a vessel. The cargo information required is that which is reasonably necessary to enable high-risk shipments to be identified for purposes of ensuring cargo safety and security and pre¬venting smuggling pursuant to the laws enforced and ad¬ministered by CBP. This information must be detailed and be transmitted electronically through approved systems. Foreign exporters to the U.S., domestic U.S. exporters and importers, and foreign importers of U.S. products are also affected by these new regulations, because the bulk of the data forwarded to CBP by the carriers and NVOCCs orig¬inates from these groups. If transmittal of information is either incomplete, misleading or not timely, it can cause a number of potentially serious problems for the trader, in¬cluding: 1) CBP may issue a “No Load” order to the car¬rier, effectively keeping the shipment at port and subjecting the shipment to storage charges and the im¬porter and exporter to possible lost commercial opportuni¬ties, 2) The shipment may become the target of additional scrutiny by CBP and possibly be subjected to intense cargo examinations, and 3) Potential denial or delays in obtaining permission to unlade the cargo at a U.S. port. For information go to : www.cbp.gov.

80-20 rule / Pareto Principle / Postulate

The concept that when a large number of individuals or organizations contribute to a result, the ma¬jor part of the result comes from a minority of the contrib¬utors. The Pareto Postulate is that 20% of your effort or clients will generate 80% of your results or business. This is commonly referred to as the 80/20 rule. An actual per¬centage can be calculated by ranking customers or con¬tributors by volume or any other factor. The Pareto Principle is based on the work and writings of the 19th century Italian economist Vilfredo Pareto.

463L Pallet / 463L Pallet System

A U.S. military air transport unit load device (ULD) pallet system based on an 88" x 108" x 2.25" base pallet. This differs from the civil air transport ULD that is based on 88" x 125" and 96" x 125" base pallets. At the core of the 463L cargo system is a pallet of metal sand¬wich construction designed for both palletizing and trans¬porting cargo on roller conveyors at all stages of its handling and transport.