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Thursday, September 15, 2011

FINANCE GLOSSARY

Tare Weight: The weight of packing and containers without the goods to be shipped.

The date of the draft



Open Policy: A cargo insurance policy that is an open contract; e.g., it provides protection for all shipments in transit within a specified geographic trade area for a limited period of time. It is referred to as "open" because it does not require reporting of individual shipments. Summary or grouped reporting requirements vary with different policies.