HAGUE RULES (1921)

Rules defining the risks to be assumed by sea carriers under a bill of lading.  

HARBOR MAINTENANCE FEES

Charges assessed to users for use of a harbor, used generally for maintenance of the harbor.

HARBORMASTER

An officer who attends to the berthing and other tasks of ships in a harbor.

HARBOR TAX

A tax paid quarterly by exporters to U.S. Customs based on a percentage of their total value of exports.

HARD MONEY

Refers to currency that is accepted internationally and is freely convertible.

HARMONIZED CODE

An internationally accepted and uniform description system for classifying goods for customs, statistical, and other purposes.

HARMONIZED TARIFF SCHEDULE OF THE UNITED STATES (HTSUS)

The legal list issued by the U.S. Government used to determine the classification of imported merchandise.

 

HARMONIZED TARIFF SCHEDULE/HARMONIZED SCHEDULE

A comprehensive list of all products, classified according to their characteristics, and used to provide duty rate and statistical information.  

HARTER ACT

Legislation protecting a ship’s owner against claims for damage resulting from the behavior of the vessel’s crew; provided the ship left port in a seaworthy condition, and was properly manned and equipped.

 

HEDGING

A strategy used by dealers in commodities, foreign exchange and securities, and by manufacturers and other producers to prevent loss due to price fluctuations.

HIGH PERFORMANCE COMPUTER

Computers with a Composite Theoretical Performance greater than 2000 Million Theoretical Operations Per Second.

HOGSHEAD

A large cask.

HOLDER IN DUE COURSE

An individual or legal entity (holder) who possesses a negotiable instrument, document of title, or similar document, and who took possession for value, in good faith, and without notice of any other individual’s or legal entity’s claim or defense against the instrument or document.

HOLD FOR PICKUP

Freight to be held at the carrier’s destination location for the recipient to pick up.

HOLD HARMLESS CONTRACT

An agreement by which one party accepts responsibility for all damages and other liability that may arise from a transaction, relieving the other party of any such liability. The contract provides complete indemnity.

HOLD WITHOUT ACTION

A designation placed on an export license to review the exporter’s application or shipment under consideration. 

HORIZONTAL EXPORT TRADING COMPANY

An export trading company that exports a range of similar or identical products supplied by a number of manufacturers or other producers.

HOUSE-TO-HOUSE

Cargo stuffed by the shipper at his facility and unstuffed by the consignee at his facility.

HOUSE-TO-PIER

Cargo stuffed at shipper's facility and unstuffed at the carrier's facility.

HUB

A central location to which traffic from many cities is directed and from which traffic is led to other areas.

HUB AND SPOKE ROUTING

An aircraft routing service pattern that feeds traffic from many cities into a central hub.

HUNDREDWEIGHT PRICING

Special pricing for multiple piece shipments traveling to one destination that are rated on the total weight of the shipment (usually over 100 pounds) as opposed to rating on a per package basis.