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Claused Bill of Lading - shipping

A bill of lading containing notations that spec¬ify deficient condition(s) of the goods and / or the packag¬ing - bill of lading

Clean Bill of Exchange - banking

A bill of exchange having no other documents, such as a bill of lading affixed to it.

Clean Bill of Lading - shipping

A bill of lading receipted by the carrier for goods received in apparent good order and condition without damages or other irregularities and without the notation Shippers Load and Count.

Clean Collection - banking

A collection in which the demand for payment (such as a draft) is presented without additional docu¬ments - bill of exchange

Clean Draft - banking

A sight or time draft which has no other docu¬ments attached to it. This is to be distinguished from docu¬mentary draft - bill of exchange

Clean Letter of Credit - banking

A letter of credit against which the beneficiary of the credit may draw a bill of exchange without presen¬tation of documents - letter of credit

Clean on Board Bill of Lading - shipping

A document evidencing cargo laden aboard a vessel with no exceptions as to cargo condition or quan¬tity

Clearance - customs

The completion of customs entry formalities re¬sulting in the release of goods from customs custody to the importer

Close Corporation

closely held corporation

Closed Conference - shipping

A shipping conference that reserves the right to refuse membership to applying carriers - conference - carrier

Closed-End Transaction - finance

A credit transaction that has a fixed amount and time for repayment.

Closely Held Corporation - law

A corporation with a small number of shareholders, who usually directly operate the corporation and have lim¬ited liability. A maximum number of shareholders is usu¬ally fixed by law. The minimum capitalization for a closely held corporation is less than that for a public cor¬poration, and fewer formalities are required for managing it. The requirements for closely held corporations vary among jurisdictions - corporation

CMR Convention - logistics

Acronym for Convention on the Contract for the International Carriage of Goods by Road. (CMR is the acronym for the French title: Convention relative au con- trat de transport international de marchandises par route.) A United Nations convention addressing legal issues re¬lated to the transport of cargo by truck on roads. The con¬vention was signed in Geneva, Switzerland on May 19, 1956

Coastal Trade - shipping

Trade between ports of one nation.

Code of Federal Regulations = CFR - U.S. law

A compilation of the administrative rules ad¬opted and followed by departments and agencies of the United States federal government. Copies of the CFR are available at major public libraries in the United States and for purchase from the Superintendent of Documents, U.S. U.S. Government Printing Office, Mail Stop: IDCC, 732 N. Capitol Street, NW, Washington, DC 20401; Tel: [1] (866) 512-1800, [1] (202) 512-1800; Fax: [1] (202) 512- 2104

Codes of Conduct

International instruments that indicate standards of behav¬ior by nation states or multi-national corporations deemed desirable by the international community. Several codes of conduct were negotiated during the Tokyo Round of the General Agreement on Tariffs and Trade (GATT) that lib¬eralized and harmonized domestic measures that might impede trade.

The United Nations has also encouraged the negotiation of several “voluntary” codes of conduct, including one that seeks to specify the rights and obligations of transnational corporations and of governments.

Coin Silver

Coin or German silver is an alloy of silver that is 800/ 1000 pure. An article of coin or German silver is often marked 800.

Cold Ironing

Providing shore-based electrical power to a ship while in port. The power is used to run the ship’s electrical systems including lights, heating, air conditioning and hot water for the ship’s crew. In practice, a heavy flexible wire en¬cased in rubber or plastic, resembling an extension cord, is extended from the pier, plugged into the ship’s receptacle and power is supplied to the ship. This allows the ship to shut down the diesel engines that normally drive its elec¬trical generators and thereby greatly reduce diesel emis¬sions. The Ports of Los Angeles/Long Beach among others have spearheaded the technique - Alter¬native Marine Power (AMP)

Collar - banking

An agreement to put upper and lower (cap and floor) limits on an interest rate which will be adhered to even if the market rate lies outside this range

Coiled Charges - shipping

The transportation practice under which the re¬ceiver of the goods pays charges

Collect on Delivery = COD - shipping

A transportation service under which the pur¬chase price of goods is collected by the carrier from the re¬ceiver at the time of delivery, and subsequently, payment is transmitted by the carrier to the shipper. Carriers charge a nominal fee for this service. As the term COD implies payment is due upon delivery. There are no credit provi¬sions in COD service - Cash On Delivery

Collecting Bank - banking

The bank that acts as agent for the seller and seller's bank in collecting payment or a time draft from the buyer to be forwarded to the remitting bank (usually the seller’s bank).

Collection - general

The presentation for payment of an obligation and the payment thereof.

Collection - banking

The receipt of money for presentation of a draft or check for payment at the bank on which it was drawn, or presentation of any item for deposit at the place at which it is payable.

Collection Endorsement

endorsement

Collection Papers - banking

All documents (invoices and bills of lading) submitted to a buyer for the purpose of receiving payment for a shipment - documents against payment - documents against acceptance

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