An L/C guaranteed by both the issuing and advising banks of payment so long as seller's documents are in order, and the L/C terms are met. Only applied to irrevocable L/C's. The confirming bank assumes the credit risk of the issuing bank.

Abbreviation for "Please Authorize Delivery Against Guarantee." A request from the consignee to the shipper to allow the carrier or agent to release cargo against a guarantee, either bank or personal. Made when the consignee is unable to produce original ...

A sliding fitting that attaches to a track allowing for the adjustment of blocks or other devices attached to the car.

The amount of work done on or by a system is equal to the amount of energy transferred to or from the system.

A propeller that can have the pitch of its blade changed to reduce drag when not in use.

A double block where the two sheaves lie in a plane one below the other, rather than alongside each other.

When the sheer curves down towards the bow and stern.

A shore that wind blows onto; it is best to stay well off a lee shore in a storm

Master of a sea-going vessel. Certificated officer competent and qualified to be master of a sea-going vessel.

A small boat intended to be used only for short sails or racing.

Sailing beyond a racing mark or buoy whereby you sail a greater distance

Time saved, reward for quick turnaround in dry cargo only.

Half of a sphere. On the globe hemispheres are used to describe the halves of the earth north or south of the equator.

A unit of 1,000 bars of pressure.

A letter of credit that requires the beneficiary to present only a draft or a receipt for specified funds before receiving payment.

Maintaining position over the ground when underway in a river or tidal stream.

A type of schooner without a bowsprit.

To wrap a small line around another.

The general name for ropes, blocks and tackles, tools, etc. (things).

A sailboat with two masts. Generally, the shorter mizzen mast is aft of the main mast, but forward of the rudder post, while a similar vessel, the yawl, has the mizzen mast aft of the rudder post. The mizzen mast of a ketch is larger than that of a yawl.