A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

U

Unitisation
The general approach for trying to transport goods in larger units.  Pallets and containers are two means to this end.

V

VAT (Value -Added Tax)
An indirect tax on consumption that is levied at each discrete point in the chain of production and distribution, from the raw material stage to final consumption. Each processor or merchant pays a tax proportional to the amount by which he or she increases the value of the goods purchased for resale after making his or her own contribution. The value-added tax is imposed throughout the European Community and EFTA countries, as well as in many other trading nations.

Variable Levy
Under the European Community's Common Agricultural Policy, a duty that increases or decreases as domestic or world prices fluctuate to ensure that the price of the imported product after payment of duty will equal a predetermined "gate" price.

W

Wharfinger Receipt
An Acknowledgement of the receipt of goods by the wharfinger.  It has no legal value.