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Glossary
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| Legal Connection |
| The amount of time needed to connect cargo from one aircraft to another, or one airline to another. Also referred to as connection time and transfer time. | | |
| Letter Of Credit |
| A document issued by a bank stipulating that a certain sum shall be paid to the beneficiary named under clearly stated conditions. It is a method of paying for goods where a buyer establishes credit with a local bank, clearly describing goods to be purchased. Upon receipt of documentation, the bank either is paid by the buyer or takes title to goods and transfers funds to seller. NOTE: On such occasions, the airline cannot release goods to the ultimate consignee until a written release is produced by the bank named on the Air Waybill. | | |
| Live Animals |
| An airline term to identify live cargo. | | |
| Local Rate |
| Rate for shipments between city pairs, all on the same airline. | | |
| Lockout |
| A set time after which no cargo may be sent to be boarded on a flight. | | |
| Lot |
| Number of pieces in one shipment. | | |
| Lot Label |
| A label or stencil applied to cargo identifying the shipment by Air Waybill number, number of pieces, actual weight of each piece, total actual weight, destination airport, date of shipment, and routing. | | |
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