A bank that acts as an agent to the seller's bank (the presenting bank). The collecting bank assumes no responsibility for either the documents or the merchandise.
A large square of heavy canvas fitted with lines to allow it to be drawn under the hull of a ship where it is damaged. The pressure of the seawater holds it tight against the ship and greatly reduces the inflow of water.
Convention on International Regulations for Preventing Collisions at Sea; Rules of the Road. Internationally accepted rules by which vessels at sea must keep clear of each other.
Bringing the boat from one tack to the other when sailing into the wind, so that the sail is flown in the opposite side by turning through the eye of the wind; Tack
This website uses cookies to manage authentication, navigation, and other functions. By using our website, you agree that we can place these types of cookies on your device.