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Rate Basis
A formula of the specific factors or elements that control the making of a rate. A rate can be based on any number of factors (i.e., weight, measure, equipment type, package, box, etc.).
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Reconsignment
Changing the consignee or destination on a bill of lading while shipment is still in transit. Diversion has substantially the same meaning.
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Reefer
Refrigerated container.
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Revenue Ton (RT)
A ton on which the shipment is freighted. If cargo is rated as weight or measure (W/M), whichever produces the highest revenue will be considered the revenue ton. Weights are based on metric tons and measures are based on cubic meters. RT=1 MT or 1 CBM.
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Reverse IPI
An inland point provided by an all water carrier's through bill of lading in the U.S. by first discharging the container in an East Coast port.
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RVNX
Abbreviation for "Released Value Not Exceeding." Usually used to limit the value of goods transported.The limitation refers to carrier liability when paying a claim for lost or damaged goods.
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