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Shipping Glossary

Shipping Glossary

DOP

OUT PORT SURCHARGE AT DESTINATIONINATION

DPS

PORT SERV. CHARGE AT DESTINATIONINATION

Draft

The number of feet that the hull of a ship is beneath the surface of the water. An unconditional order in writing, addressed by one party (drawer) to another party (drawee), requiring the drawee to pay at a fixed or determinable future date, a specified sum in lawful currency to the order of a specified person

Draft, Clean

A draft to which no documents are attached

Draft, Date

A draft that matures on a fixed date, regardless of the time of acceptance

Draft, Discounted

A time draft under a letter of credit that has been accepted and purchased by a bank at discount

Draft, Sight

A draft payable on demand upon presentation

Draft, Time

A draft that matures at a fixed or determinable time after presentation or acceptance

Draught

The distance between the absolutely lowest point of the ship (bottom edge keel) and the actual water line

Draught Marks

A scale on the bow or stern by which the actual draught of a vessel can be read

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