Taking in charge

Receipt of goods by carrier from shipper.

Telegraphic transfer

Payment instruction sent from one bank to another by electronic means, either SWIFT or telex.

The method of choice for urgent or high-value payments.

Term bill

Bill of exchange on which payment is due at a future date.

Also known as tenor bill.

Title document

Transport document in which the bearer has title to the goods, and so can claim them from the carrier at their destination.

To order

On a bill of exchange 'order' or 'to order' means that the drawer directs payment to be made to another party (usually a bank).

On a bill of lading, 'order' or 'to order' assigns ttile to the goods to another party.

See also:

Endorsement

Blank endorsement

Transferable letter of credit

Letter of credit part of whose value can be transferred to another party (second beneficiary). The Advising bank gives the second beneficiary a transferred letter of credit.

Transhipment

Transfer of goods from one vessel to another during its journey. Some letters of credit prohibit this.

Transport document

Document given by the carrier to the shipper (seller), serving as:

• receipt for the goods
• evidence of a carriage contract.

The transport document MAY also serve as a document of title.