"Lingo" or "Terms and Industry language" is very important. Every industry works with special terms and abbreviations. It is quite helpful to understand these terms not just for communication purpose. In transportation it is also very important to understand these definitions to cover your liabilties and Commitments. Below is a constantly growing list of Terms and Definitions that Truckers, Firms, Coordinators, and other industry professionals might throw at you.
Insurance Liability
Insurance Liability apply to many different aspects of the transportation process. The most encountered occurance is the amount of coverage that a carrier is legally bound to offer you on your shipment during the carriers possesion. Most Common Freight Companies offer a maximum liability of $0.60 per pound per article. Most Van Lines offer a Maximum Liabiltiy of $5.00 per pound per article.