AJAX progress indicator
  • Abnormal Sale
    An unusual sale in a marketplace. Parents selling a property to their children for below market value may be an abnormal sale.
  • Absentee Owner
    A property owner who does not reside on the property, but who relies on a property manager to oversee the investment.
  • Abstract of Title
    A brief history of a property's title, including all judicial proceedings, conveyances, records, grants and wills, and a statement of all recorded liens and encumbrances.
  • Abstraction
    A method of determining the value or estimated selling price of land by deducting (abstracting) the value of any site improvements from the overall selling price of the property. Also called Allocation or Extraction Method.
  • Accelerated Depreciation
    A faster method of determining the cost write-off of personal property, used in a business or for the production of income, by applying the straight-line method. The method of depreciation assumes that the property experiences most of its depreciation in its early years.
  • Acceleration Clause
    A provision in a document like a mortgage, promissory note, trust deed or agreement of sale stating that the remaining amount owed is due immediately upon payment default, sale of the property or other specified occurrence. Also called Call Provision or Due-on-Sale Clause.
  • Acceptance
    An agreement by the seller to the terms of the sale.
  • Acceptance Bonus
    See Mobility Premium.
  • Access
    The right to utilize land that may be privately owned for public purposes. See Ingress, Egress and Easement. A means to a property.
  • Accession
    The acquisition of title of a neighboring property or improvements to that property due to the placement of fixtures that lie beyond the property. For example, if a property owner builds a fence that extends into a neighbor's yard, the neighbor owns the section of the fence on his or her(...)
  • Accessorial Charges
    Fees for accessorial services. Also called Additional Services Charges.
  • Accessorial Services
    Those services (other than the transportation of household goods) like packing, custom-crating, elevator, stair and long carry, bulky articles and appliance servicing that are either necessary to complete the move or are requested by the customer.
  • Accessory Buildings
    A structure secondary to the main building on a property, e.g., a garage, shed or pump house.
  • Accrued Depreciation
    The depreciation of a property over the course of its existence. Also called Accumulated Depreciation. The difference between the cost to reproduce a property at the time of the appraisal and a property's current value determined by its competitive condition. Also called Diminished Utility.
  • Accrued Interest
    Interest on a mortgage that has accumulated over a specific amount of time. Interest payments cover the month prior to the due date or after it is earned.
  • Accumulated Depreciation
    See Accrued Depreciation.
  • Acre
    A land measurement equivalent to 43,560 square feet or 4,840 square yards. A square mile is 640 acres.
  • Actual Cash Value (ACV)
    Money equal to the cost of replacing lost, stolen or damaged property after depreciation. A method of determining the worth of an improvement.
  • Actual Charges
    The total cost of the move from start to finish.
  • Ad Valorem
    A Latin term meaning "according to valuation." It is generally used to refer to real estate taxes based on the assessed valuation of the property.
  • Addendum
    Revisions made and attached to a sales contract that are referenced in the contract and signed by both the buyer and seller.
  • Additional Services Charges
    See Accessorial Charges. Additional Services Performed at Origin/Destination Service and Delivery Report (ASPOD) A form that serves as proof that additional services were performed at origin and/or destination. The customer's signature verifies that the service was completed as stated.
  • Additional Transportation Charge (ATC)
    The charge services that is based on the cost of an area.
  • Adjustable Rate Mortgage (ARM)
    A loan with an interest rate and terms that can change as market conditions change. Because the rate is periodically adjusted, the mortgage payment either increases or decreases.
  • Adjustment
    An amendment made to the market value of a comparable property if the property has, or possibly does not have, a feature that distinguishes it from the subject property.
  • Adverse Use
    The unfavourable use of a property that possibly depreciates its value.
  • Agent Invoice
    National account invoice issued by an agent.
  • Agreed Delivery Date (ADD)
    Two or more dates mutually agreed upon between the customer and Matco for the delivery of a shipment.
  • Agreement of Sale
    A contract of sale. See Contract of Sale, Contract for Deed and Land Contract.
  • Air Ride
    The suspension system used on trailers and tractors instead of conventional springs, where the vehicle is supported and rides on rubber cylinders filled with compressed air for a safer ride.
  • Air Waybill
    A receipt for the cargo and contract for the transportation between a customer and an air carrier.
  • Air Weight
    The difference between actual weight and constructive weight.
  • Allocation
    See Abstraction.
  • Allowance
    Money for the completion of certain repairs or improvements to a home or to a transferring employee for expenses incurred during a move. See Cost-of-Living Allowance or Goods and Services Differential.
  • Amendment to the Order for Service
    A form used to record any changes to the shipment such as additional packing or other services, destination location, valuation or agreed pickup and delivery dates.
  • Amenities
    Tangible and intangible features of a property like scenic, social or architectural qualities that do not have monetary value, but are beneficial to the owner of that land.
  • Amortization
    Repayment of the principal and/or interest of a debt over a specified period of time.
  • Amortization Schedule
    The payment schedule used to reduce a financial debt that shows the remaining balance of a mortgage after each payment is made.
  • Annual Percentage Rate (APR)
    The yearly charge, expressed in a percentage, for use of a lender's money.
  • Appliance Service
    Preparation of appliances to make them safe for transportation. This does not include the disconnecting of plumbing or electrical service. See Third-Party Service.
  • Application Fee
    A charge to start the loan process.
  • Appraisal
    An estimate made by an appraiser of the value of a property.
  • Appraisal Fee
    A charge for a statement of property value.
  • Appraisal Review Fee
    A charge for reviewing an appraisal.
  • Appraisal Value
    The value of a property determined by averaging additional appraisals.
  • Appraiser
    An experienced professional who is licensed to estimate the value of a property.
  • Appreciation
    An increase in value of an item or property. See Depreciation.
  • Approaches to Value
    Three approaches are commonly used by an appraiser when estimating the value of a property. They are: the direct sales comparison approach, the cost approach and the income approach.
  • Appurtenance
    The rights and privileges to use an improvement of a property. The rights usually transfer with the sale of the property. Examples of appurtenance are easements, water rights, condominium parking stalls and improvements.
  • Arm's-Length Transaction
    An arrangement whereby the buyer and seller voluntarily enter into a transaction with equal bargaining positions.
  • Arrival Notice
    A notice that informs the party stated on the bill of lading of the estimated arrival date of the shipment. An arrival notice on an international move normally indicates where the cargo will be available for customs clearance, pick-up or comparable handling, when free-time will expire, any(...)
  • As is Agreement
    An agreement stating the property is being sold in its present condition.
  • Assembly/Disassembly
    The process of taking household goods apart for transportation and putting them back together at destination.
  • Assessment
    A tax, or assessed value, placed on a property for purposes like public improvement or maintenance.
  • Assessor
    The person who determines assessed values.
  • Asset
    A useful item or something of value owned by a person. An asset can be tangible or intangible, and can include stocks, bonds and property.
  • Assigned Sales
    See Closing Assistance.
  • Assignee
    The person who receives a transfer of property.
  • Assignment
    The transfer of a property's right, title and interest from one person to another.
  • Assignment Extension Bonus
    A compensation paid to an expatriate for an extended assignment. Also called Reenlistment Bonus.
  • Assignor
    The person who transfers property.
  • Assumable Rate Mortgage
    See Assumption of Mortgage.
  • Assumption Fee
    A processing charge for an assumption of mortgage.
  • Assumption of Mortgage
    Buying a property that has an existing mortgage and continuing payment on the remaining amount of the mortgage at the same interest rate. Also called Assumable Rate Mortgage.
  • Attorney-in-Fact
    A person who is authorized to act on the behalf of another person.
  • Authority
    See Operating Authority.
  • Auto Inventory
    See Motor Vehicle Inventory.
  • Automated Relocation Management System
    A computer system used as a management tool for monitoring costs and increasing productivity and communication.
  • Automobile Handling Charge
    A charge to the customer, in addition to the weight, for movement of an automobile.
  • Auxiliary Service
    A service provided when a shipment cannot be serviced, picked up or delivered by a road van, and a smaller unit must be employed for movement to or from the road van. The fee is chargeable to the customer. Also called Shuttle Service.
  • Average Transit Time
    The average time in shipping from one point to another.
  • Balloon Mortgage
    A mortgage that is paid off in one lump sum at the end of a specified term.
  • Balloon Payment
    A lump-sum payment at the end of a balloon mortgage term that pays the loan in full.
  • Bargain and Sale Deed
    A deed that conveys all of the owner's interest in the property. This deed does not include warranties, but that the grantor has possession or claim to the property conveyed.
  • Base Salary
    A salary that does not include allowances or deductions.
  • Bi-weekly Payment Loan
    A mortgage that is paid every two weeks (26 half-month payments a year) instead of once a month. This type of loan has an earlier retirement date and lower total interest costs than a typical loan.
  • Bill of Lading (BL)
    The original shipping contract that lists the dates, services and actual charges involved in a move and the receipt for a customer's belongings.
  • Bill of Sale
    A document transferring personal property from one person to another.
  • Billable Charges
    Net charges billed.
  • Billing Weight
    The weight on which all charges are based.
  • Binder
    An agreement between the buyer and seller for the purchase of property, stating the buyer's good faith and intentions. A deposit of earnest money is used to secure the binder. The binder is temporary until a formal agreement is prepared. See Agreement of Sale.
  • Blanket Mortgage
    A single mortgage that covers more than one piece of real estate. A blanket mortgage may be used by a land developer who will sell individual lots out of one piece of land, or when a person purchases a home and the lot adjacent to it.
  • Blended Rate
    An interest rate that is determined by the average of a low-interest rate and a high-interest rate that is often used with a wraparound mortgage.
  • Blighted Areas
    An area with decreasing property values, usually in inner cities, because of adverse land uses, depreciating buildings or lower economic influences.
  • Blue Bark
    A shipment belonging to a deceased member of the military.
  • Bona Fide
    Made in good faith without fraud or deceit.
  • Bond
    A written commitment to pay a debt that accompanies a mortgage. This obligation to pay a debt can be secured or unsecured. An interest-bearing document used to fund projects like community improvements. See Note.
  • Bonded warehouse
    A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
  • Borrower
    A person who receives a loan with the expressed intention of repaying it in full.
  • Breach of Contract
    The violation or default of a contract due to not performing a particular task.
  • Bridge Loan
    A loan issued to the borrower on a short-term basis (usually about 30, 60 or 90 days) as a temporary advancement until major financing is received, possibly to purchase a new home before the old home is sold.
  • Broker
    See Real Estate Broker or Customhouse Broker.
  • Broker Price Opinion (BPO)
    A method used by a third-party company to estimate the price a property would sell for in the present market. Also called Opinion of Value.
  • Brokerage
    A party that arranges transportation for a customer. The bringing together of parties for completion of a real estate transaction.
  • Brokerage Commission
    See Commission.
  • Building Line
    A fixed line on a property marking the distance beyond which no building construction/improvement may occur.
  • Bundle of Rights
    The owner's rights to a property. These rights include, but are not limited to, the right to use, sell, lease or rent, trade or exchange, and give away the property.
  • Bunker
    To provide fuel for an oceangoing vessel.
  • Bunker Surcharge
    An extra fee by a steamship line when there is an increase in the price of fuel. It is normally assessed as a percentage of the base freight rate.
  • Buy-Down
    A technique used to reduce the buyer's payments for a loan by lowering the effective interest rate. A permanent buy-down reduces payments for the entire term of the loan and a temporary buy-down reduces the payments for a period of about three-to-five years.
  • Call Provision
    See Acceleration Clause.
  • Canada Border Services Agency
    The government agency that imposes fees on imported and exported goods and is responsible for collecting such fees. Also called Customs.
  • Cancellation Document
    A written agreement to terminate a sales contract.
  • Cap
    A limit on the increase of an interest rate for an adjustable rate loan.
  • Cargo
    Freight being transported by air, ship or vehicle.
  • Cargo Claim
    A claim filed for damage to household goods being transported by Matco Moving Solutions.
  • Carriage
    The movement of goods by a carrier. See Contract Carriage.
  • Carrier
    A company in the business of transporting goods between points for compensation.
  • Carrier Liability
    The financial liability for loss or damage of goods based on the value placed on the goods.
  • Carrier Packed
    Cartons packed by Matco Moving Solutions.
  • Carrier Packed on Inventory
    A designation on the inventory showing cartons packed by Matco Moving Solutions.
  • Carrier's Certificate & Release Order
    A document used to advise the U.S. Customs Service of the details of a shipment, including its ownership, point of origin and number of shipping cases. This document certifies that the party named on the certificate is the true owner or consignee and is, therefore, entitled to file for customs(...)
  • Carrying Costs
    Maintenance expenses resulting from the ownership of a property (especially a residential property) like insurance, utilities and taxes.
  • Cartage
    Transporting goods to or from storage.
  • Cartman
    Someone who transports goods within the confines of a port. Also called a Drayman.
  • Cash Equivalency
    An adjustment to a comparable property sale when the sale was financed in a manner atypical of the marketplace. If, for example, the seller backs a loan carrying no interest, the sale would be adjusted downward.
  • Cash on Delivery (COD)
    A shipment that is paid for by the individual at the time of delivery prior to the unloading of the shipment. Also called Collect on Delivery.
  • Cash Settlement
    Cash paid in a claims settlement for loss or damage to property.
  • Catastrophic Coverage
    Insurance protecting against a warehouse fire and other catastrophic occurrences.
  • Certificate of Occupancy (CO)
    A government document stating that a building is fit to be occupied and is free of violations. Also see Physical Damage Insurance.
  • Certificate of Origin
    A document used to determine the country in which the goods were manufactured or produced. It must be signed and sealed by a recognized Chamber of Commerce as certification of the true origin and also may require legalization by a consular office of the destination country.
  • Certificate of Weight
    An authoritative statement of the weight of a shipment prepared by a weigh master.
  • Chain of Title
    A history of ownerships, liens and encumbrances of a title.
  • Chattel Mortgage
    A mortgage secured by personal property.
  • Claim
    A written report a customer files with Matco Moving Solutions for payment for loss or damage to property that may have occurred while shipment was in possession of Matco Moving Solutions.
  • Clean Receipt/Clean Bill of Lading
    A bill of lading for goods received in apparently good condition with no damage or missing items.
  • Climate controlled storage
    The storage of goods within a certain temperature range as required by the product.
  • Closed in Escrow
    All funds are distributed and terms of the sale are met, completing the sale transaction.
  • Closed Mortgage
    A mortgage that cannot be prepaid until maturity or during a specific period.
  • Closing
    The delivery of the deed after the terms of the contract have been met, making the buyer the official owner of the property.
  • Closing Assistance
    A third-party service that assists an owner in selling a home by funding equity to the owner to buy a new home based on the original home's appraised value. Also called Assigned Sales.
  • Closing Costs
    The costs of purchasing a property in addition to the purchase price, such as fees and insurance.
  • Closing Statement
    A statement of all amounts due in a real estate transaction.
  • Cloud on the Title
    An outstanding claim, lien or encumbrance that affects the property's marketability.
  • Co-signer
    A person who signs a legal document and becomes jointly responsible for fulfilling the obligations under the contract.
  • Collect on Delivery (COD)
    See Cash On Delivery.
  • Commercial Shipment
    A shipment of non-household goods.
  • Commercial Shipper
    The company that ships a commercial shipment.
  • Commission
    The portion of the revenue derived from a shipment payable to the origin agent, booking agent, destination agent or hauler. An amount paid to a real estate agent or broker upon completing a sale. It is usually a percentage of the sale price.
  • Commitment
    A promise to loan money to a qualified borrower.
  • Commitment Fee
    A fee paid by a lender to an investor in exchange for the investor's promise to buy a mortgage in the future.
  • Commodity (COMM)
    An economic good or article of commerce when delivered for shipment.
  • Commodity Rate
    A rate applied to a commodity named in a commodity tariff.
  • Common Elements
    Portions of a property — land and structures, including elevators, pools, roofs and floors, but not the individual units — that the owner has a right to use. Each condominium owner owns a percentage of the common elements.
  • Comparable
    A property equivalent in value to another property used to establish the latter property's value.
  • Competitive Market Analysis
    See Direct Sales Comparison Approach.
  • Complete Occupancy
    When a single shipment completely occupies a van, due to bulk, it is charged on actual weight or 7 pounds per cubic foot of the van, whichever is greater. This does not apply to household goods shipments.
  • Complete Pack
    Your entire household will be packed and prepared for loading.
  • Completion Bonus
    An extra payment to an expatriate upon completion of a foreign assignment. Often part of the mobility premium.
  • Compliance
    Fulfilling the requirements on shipping documents and papers in accordance with government regulations.
  • Compound Interest
    Interest paid on the principal of a mortgage plus the accrued interest.
  • Concealed Damage
    Damage to the contents of a package without apparent damage to the package itself.
  • Conditional Sales Contract
    An agreement in which the seller retains the title to a sold property, but the property is given to the buyer so long as he or she does not default on the conditions of the contract.
  • Condominium Fee
    A common payment by condominium owners allocated to pay expenses.
  • Condominium Ownership
    Individual ownership of one unit in a multiunit development and joint ownership of the common elements outside the unit. See Common Elements.
  • Conference, Steamship
    A conference of vessel operators who provide service within a specified trade route and who agree to certain fixed rates within that route.
  • Consideration
    An item of value, possibly money or a service, given with the intent of motivating a person to enter into a contract or to discourage a certain act such as a lawsuit.
  • Consignee
    The person at the destination named as the receiver of the shipment.
  • Consignment
    See Shipment.
  • Consignor
    The person at origin who arranges for the transportation of the shipment.
  • Consolidation
    The combining of two or more small shipments into one unit between two given points, usually for a rate normally less than that which would have been assessed against each individual shipment within the consolidation. See Non-Vessel Operating Common Carrier.
  • Construction Loan
    A short-term loan for financing construction. As the work progresses, the lender makes periodic payments to the builder.
  • Consular Invoice
    A special invoice required by certain countries to control and identify goods being imported into that country.
  • Consumption Entry
    A customs entry is applicable to most importation in which the value of the goods exceeds $250.00. Also called Formal Entry.
  • Container on Flat Car (COFC)
    A term used in rail transportation of a steamship container when the container is not mounted on a chassis, requiring special equipment to transfer the container between the flat car and a chassis or flatbed truck. See Trailer On Flat Car.
  • Containerization
    The use of a standard box, carton, drum or barrel to transport freight.
  • Contingency
    A requirement or qualification stated in a contract that must be met before the contract is final.
  • Contract
    A legally binding agreement between two or more persons/organizations to carry out reciprocal obligations or value.
  • Contract Carriage
    Transportation of goods by a carrier under a contract, rather than a tariff.
  • Contract for Deed
    A written agreement for the purchase of a property in which the payment or a portion of the selling price is deferred and the seller retains title to the property until full payment is made. The amount owed may be made in instalments over a period of time with the remaining balance due at maturity.
  • Contract Number
    The identification number assigned to each national account contract.
  • Contract of Sale
    A written agreement for the purchase or sale of property. The buyer agrees to purchase the property at an agreed upon price and the seller agrees to transfer the title to the property by way of a deed.
  • Contract Rent
    The rental income in a lease agreement.
  • Conveyance
    A deed or written instrument to transfer title or an interest in property. A means of transportation.
  • Cooperative Ownership
    Ownership of an apartment whereby the building is owned by a corporation and the apartment owner owns stock in the corporation.
  • Corrective Billing
    An invoice correcting charges and/or rates on the original invoice.
  • Correlation
    See Reconciliation.
  • Cost Approach
    Estimating the value of a property by adding the reproduction or replacement cost of the building, less depreciation, to the estimated land value. This approach is the most useful when estimating the value of new construction and service properties like churches.
  • Cost-Insurance-Freight (CIF)
    Used to specify the value of an article at a specific point.
  • Cost-of-Living Allowance (COLA)
    An allowance to compensate a transferring employee for the extra expenses involved in moving to a new location with higher living costs. The new location may demand higher taxes, more expensive housing or transportation, etc. Also called Allowance or Goods and Services Differential when(...)
  • Counteroffer
    A return offer made by the buyer or seller after rejecting the previous offer, in an attempt to purchase or sell a property. The counteroffer replaces the original offer.
  • Country of Assignment
    See Host Country.
  • Country of Origin
    See Home Country. Regarding a product, it is the country in which the product is manufactured, produced or grown rather than the country from which it is shipped.
  • Covenant
    Agreements are written into deeds, leases, mortgages, etc., promising performance or non-performance of certain uses or non-uses of a property.
  • Crating
    Items that require extra protection can be custom crated for added security.
  • Credit Rating
    A rating based on a person's present financial condition and past credit history.
  • Credit Report
    A report to determine a person's credit rating and ability to pay a loan.
  • Credit Report Fee
    A charge for a credit report.
  • Cube (CU)
    A measurement of the capacity or cubic space of a truck or container. The industry average is 7 pounds per cubic foot.
  • Cube Sheet (CU)
    A sheet containing a written measurement of household goods items. Also called Table of Measurements.
  • Custom
    A fee imposed by a country on imports and exports.
  • Customhouse
    The place or building where customs fees are collected. Fees placed on imports and exports. The place where a physical examination of imports and exports is done.
  • Customhouse Broker
    A person or firm, licensed by the treasury department of their country when required, engaged in entering and clearing goods through Customs for a client (importer).
  • Customs Brokerage (Brokers)
    A profession that involves the "clearing" of goods through customs barriers for importers and exporters (usually businesses). This involves the preparation of documents and/or electronic submissions, the calculation and payment of taxes, duties and excises, and facilitating communication(...)
  • Customs Clearance
    The process of obtaining the release of goods from Customs, including documentation handling and processing, but not including the physical handling of the cargo for examination.
  • Customs Entry
    The filing of all applicable documentation for the importation and release of goods, with Canadian Customs or the U.S. Customs Service having jurisdiction over the point at which the shipment is to be released.
  • Customs Examination
    A physical inspection of a shipment by Canadian Customs or U.S. Customs Service. The customer must provide the opening, closing and repacking of each container inspected.
  • Customs Form, 3299
    To clear household goods shipment through U.S. Customs, movers are required to complete a 3299 Customs Form.
  • Damage
    When a piece of property arrives at the destination in a condition different from the pick-up.
  • Data Sheet
    See Fly Sheet.
  • Date of Entry
    The date on which proper documentation is presented by the consignee to the Canadian or U.S. Customs Service for the release of cargo.
  • Date of Importation
    The date on which cargo is available to the consignee for the purposes of filing entry for release with the Canadian or U.S. Customs Service.
  • Date of Origination
    The beginning date of a loan process.
  • Decreasing Returns, Law of
    When property improvements no longer bring a coinciding increase in property value.
  • Deed
    A document that transfers the title of a property from the seller to the buyer upon sale of the property.
  • Deed in Trust
    The transfer of a title to a third-party, who holds the title until the mortgage is paid. Upon payment, the title is transferred to the borrower. If no payment, the third-party may sell the property to pay the debt. Also called Trust Deed.
  • Deed of Release
    The release of a parcel of land from the lien of a mortgage covering several parcels resulting from payment and satisfaction of the mortgage. Also called Release of Lien.
  • Deed Restrictions
    Statements listed in a deed that limit and control the use of a property. These restrictions may involve the actual use of the property or the types of structures allowed on it.
  • Default
    The failure to meet the terms of a contract.
  • Defect of Record
    A burden on a title listed in public record. Defects can be easements, judgments and mortgages.
  • Deficiency
    The difference between the mortgage meant to be paid and the amount at foreclosure.
  • Delay Claim
    A claim filed for expenses incurred as a result of a late pick-up or delivery, usually for motel and meal expenses.
  • Delinquent Payment
    A past-due payment of a financial obligation.
  • Delivery Date (DD or DEL)
    The actual date on which the goods were released to the customer or consignee.
  • Delivery Order
    Permission issued by the consignee to the ocean/air carrier for release of cargo to an inland carrier. It should include all data necessary for identification of the cargo.
  • Delivery Receipt (DR)
    A document which evidences delivery of a shipment. Same as POD.
  • Delivery Spread
    See Spread Date.
  • Demurrage
    A charge to the customer for keeping a container, trailer or railcar beyond a specific length of time. Demurrage is mostly used relative to railroads, as opposed to detention, which is more commonly utilized relative to the trucking industry. See Detention and Free-Time.
  • Density
    The ratio of an item's weight to its volume.
  • Density
    The ratio of an item's weight to its volume.
  • Deposit
    Money paid by the buyer to the seller that secures the contract and protects the seller from breach of contract. This often is called a security deposit with regards to landlords and tenants. See Earnest Money.
  • Depreciated Cost
    The reproduction or replacement cost of a building, less depreciation to the time of appraisal.
  • Depreciated Cost
    The reproduction or replacement cost of a building, less depreciation to the time of appraisal.
  • Depreciation
    A decrease in value of a property. See Appreciation.
  • Depreciation Guide
    A guide showing the average life span of an item and its estimated depreciation each year.
  • Depreciation Guide
    A guide showing the average life span of an item and its estimated depreciation each year.
  • Destination Agent (DA)
    The destination contact for the customer. This also is the agent who, if the shipment is going into storage, is the authorized receiving agent.
  • Destination (DEST)
    The final point of delivery of the goods as specified by the customer.
  • Destination Service
    Services performed upon arrival of the shipment at destination.
  • Detention
    A charge to the customer for keeping a container beyond a certain time limit. See Demurrage and Free-Time.
  • Diminished Utility
    See Accrued Depreciation.
  • Direct Reduction Loan
    The principal of this mortgage decreases through monthly payments that, in turn, increase to pay taxes, interest and insurance when due.
  • Direct Sales Comparison Approach
    Estimating the value of a property through a comparison of recent sale prices of similar properties, after an adjustment of time, financing, seller concessions and differences in the properties. This appraisal approach is mostly used by real estate brokers. Also called a Competitive Market(...)
  • Directed Offer
    A company's offer through a third-party relocation firm to purchase an employee's home. The offer may or may not reflect the home's fair market value. It often is more than the selling price of the home and is used to encourage an employee to transfer.
  • Disassembled by Owner (DBO)
    Items are disassembled by the owner rather than by Matco Moving Solutions.
  • Dispatch (DISP)
    Coordinates the movement of shipments from origin to destination.
  • Dispatcher
    Assumes the task of communicating the route of a shipment to van operators and agents, making sure that instructions are carried out accordingly.
  • Disposable Income
    See Spendable Income.
  • Disposition of Present Home
    The activities and expenses experienced in making the necessary arrangements to sell a house or to break a lease agreement.
  • Diversion
    A change in the destination of a shipment while it is en route and prior to arrival at the original destination on the bill of lading.
  • Dock
    An elevated section of a building that is level with a van for ease of loading and unloading.
  • Dock Receipt
    Receipt issued by an ocean carrier or its agent for merchandise delivered at a dock or warehouse awaiting shipment.
  • Document Fee
    A charge for preparation of legal documents such as a mortgage or deed.
  • Dolly
    A small platform on rollers or wheels used to handle freight
  • Domestic Shipment
    A shipment moving within Canada.
  • Door-to-Door Service
    The service from origin residence to destination residence, exclusive of any storage in transit, customs duties, taxes, warehouse handling, etc.
  • Door-to-Port Service
    The service from origin residence to free arrival of the vessel/aircraft at the destination city, exclusive of any storage in transit, customs duties, taxes, warehouse handling, any charges incurred once the vessel/aircraft has arrived, etc.
  • Double Contracting
    A strategy used to get a higher loan whereby the buyer and seller have a second contract between them at a lesser amount than the original contract. This usually occurs if the buyer does not have enough money for a proper down payment.
  • Down Payment
    An amount paid toward the purchase of property.
  • Drayage
    Moving freight within a city.
  • Drayman
    The person who performs drayage. Also called Cartman.
  • Driver (DR)
    See Owner-Operator.
  • Due-on-Sale Clause
    See Acceleration Clause.
  • Dunnage
    Material other than packaging used to prevent damage to freight or to support it in shipment.
  • Duplex
    A single structure designed to accommodate two families.
  • Duplicate Carrying Charges
    The costs a buyer incurs after purchasing a new home before the present home is sold
  • Duty
    A tax imposed on the importation or exportation of goods by the federal, provincial or local government.
  • Early Possession
    The buyer occupies a property prior to closing.
  • Earnest Money
    A deposit that represents a buyer's good-faith intention. Earnest money protects the seller if the buyer breaks the contract, and is usually part of the down payment.
  • Easement
    The right to someone else's property for limited use such as placing of electrical and cable wires or installing sewers. See Access, Egress and Ingress.
  • Economic Life
    The total useful life expectancy of a building.
  • Economic Obsolescence
    The loss in value of a property due to economic forces like land use or restrictions of property rights.
  • Economic Rent
    The estimated rent potential of a property that is commanded by the open, competitive market. Rent increases with supply and demand. Compare to Contract Rent.
  • Education Allowance
    A sum provided for an expatriate's children if the new foreign location does not provide adequate schooling. Also called Schooling Allowance.
  • Effective Age
    The age of a building determined by its observed condition rather than its actual chronological age. The effective age can be influenced by depreciation, maintenance and remodeling/additions.
  • Effective Bottom-line Discount (EBLD)
    Overall discount of contract shipments taking into effect all free charges and split discounts using the effective date of the contract as the base for the gross distributable charges. Total billable charges divided by total gross charges.
  • Egress
    The right to leave a tract of land. See Ingress, Access and Easement.
  • Elevator, Stair Carry and Long Carry Charge
    A tariff charge assessed to the customer whenever any one or more of these services are necessary to accomplish pickup or delivery. This is a per hundred weight charge, based on the actual weight carried.
  • En Route (ENRT)
    On the way.
  • Encumbrance
    A claim, lien or charge on a property that lessens its value, or an obstruction that affects the physical condition of a property.
  • Equity
    The interest an owner has in a property that increases as payments increase.
  • Equity Bridge Loan
    A loan borrowed against the worth of the borrower and the remaining amount owed. See Bridge Loan.
  • Escalator Clause
    A contract statement granting the adjustment of certain payments to cover contingencies required in the contract like interest rates, maintenance and insurance.
  • Escrow
    The delivery of funds and/or documents to a third-party to be held by the third-party until satisfaction of certain conditions. Escrow is usually used to close real estate transactions.
  • Escrow Account
    An account into which escrow funds are disbursed. Also called Impound Account.
  • Escrow Closing
    See Closed in Escrow.
  • Escrow Fees
    Fees charged by a third-party responsible for holding escrow funds in an account for the buyer and seller.
  • Escrow Payment
    The designated portion of a mortgagor's monthly payment to be held by the third-party to pay for taxes, insurance, etc.
  • Established Value
    See Appraisal Value.
  • Estimate (EST)
    An approximate calculation of the size, value, cost and, especially, weight of a shipment or the cost of transportation and services.
  • Estimate/Order for Service
    A computation estimating the services and charges required to handle the transportation of goods, and an order to proceed with the transportation.
  • Estimated Cost of Service (EST)
    A written document used by the origin agent as a preliminary inventory of a shipment to determine approximate charges for weight, special services, mileage, rate, charges, etc.
  • Estimated Time of Arrival (ETA)
    The estimated time the shipment will arrive at destination.
  • Estimated Time of Departure (ETD)
    The estimated time the van operator will leave the origin with the shipment or estimated date on which a vessel is to depart from a seaport.
  • Estimated Weight
    An approximate weight of a shipment determined by multiplying the estimated cubes by 7 pounds.
  • Exception Report
    A report itemizing additions or changes to the original inventory.
  • Excise Tax
    A government tax imposed on the consumption, manufacturing or sale of commodities, but not on property.
  • Exclusive Agency
    The real estate agency designated the sole agency for the sale of a property that can collect commission on the sale of the property if the property is sold by anyone other than the seller.
  • Exclusive Right to Sell Listing
    An agreement between the owner and real estate agent that gives the agent the right to sell and collect commission on a property if sold by anyone except the seller.
  • Exempt Commodities
    Commodities that are exempt from government rules and regulations for carriers.
  • Exemption
    A tax discount given to eligible taxpayers by the government.
  • Exhibit
    An advertising vehicle whereby an company demonstrates a product or service to prospective customers at a trade show.
  • Exhibit Shipment Control Information Form
    A form to provide clear, complete and uniform information about each exhibit shipment to all participants involved in handling the shipment.
  • Expatriate
    A citizen employed and living in a foreign country.
  • Expatriate Premium
    See Foreign Service Premium.
  • Extended Liability
    A valuation extension on a shipment in storage in transit.
  • Extensions
    See Notification of Delay.
  • Extra Delivery
    A portion of a shipment unloaded at a location other than the destination address indicated on the bill of lading.
  • Extra Pickup
    A portion of a shipment loaded at a location other than the origin address indicated on the bill of lading. Also called Extra Stop.
  • Extra Stop
    See Extra Pickup
  • Extraction Method
    See Abstraction.
  • Fair Market Value (FMV)
    See Market Value.
  • Fee Simple
    The largest possible estate, right of ownership or interest in a property a person can have without time limitation.
  • Fiduciary
    A person serving in a position of trust and confidence for another.
  • Final Value Estimate
    See Reconciliation.
  • Finance Charge
    A fee that must be paid to get a loan.
  • Firm Commitment
    An agreement to loan or insure a loan on a property.
  • First Mortgage
    A mortgage that is first obtained on a home and is first to be foreclosed.
  • First Proviso
    An old designation for household goods.
  • Fixed Ceiling for Repairs
    A clause in an offer to purchase asking the seller to pay for any repairs the purchaser sees necessary. These costs are usually negotiated in an offer.
  • Fixed Expenses
    Annual costs, like taxes or insurance, that must be paid whether or not the property is occupied.
  • Fixed-Rate Loan
    A mortgage loan in which the interest rate stays the same for the term of the loan.
  • Fixture
    An item that once was personal property, but became real property when it was affixed to real estate. The item, unless specifically noted by the seller, will be included in the sale of the property. Large appliances are often left behind by the seller and added to the sale.
  • Flat Floor
    A term referring to the structure of the floor of a trailer. A freight flat floor is level from the trailer's nose to its back door. A household goods trailer floor is initially level, but drops at the front deck, then becomes level again, and is not a flat floor.
  • Flatbed Carrier
    A carrier using flatbed trailers under the terms, rates and authorities of a household goods carrier for transport of containerized household goods between ports and/or warehouses. Charges for such carriage are normally based on net weight of the shipment, but often subject to a specified(...)
  • Flexible Payment Loan
    A fixed-term, fixed-rate mortgage, with a reduced monthly payment, where a portion of the down payment goes into escrow and the borrower pays reduced payments that gradually increase over time. The balance of the payment comes from the escrow account until payment reaches the full amount.
  • Fly Sheet
    A document containing specific information on each real estate listing such as room descriptions. Also called Data Sheet or Information Sheet.
  • Forbearance
    Delaying foreclosure on a mortgage with an agreement to make up payments at a later date.
  • Force Majeure
    The title of a common clause in contracts, exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods or war.
  • Foreclosure
    Procedure whereby a lender sells a property to collect payment due to default and to pay off debt.
  • Foreign Post
    See Host Country.
  • Foreign Salary
    See Host Country Payment.
  • Foreign Service Premium
    A cash allowance given to an employee who agrees to transfer to a foreign location. Also called International Adjustment Allowance or International Assignment Premium.
  • Foreign Service Vacation
    A vacation to the expatriate's home country while still assigned to a foreign location. The price of the trip is usually reimbursed or partly reimbursed by the company, but regular vacation time is used.
  • Forfeiture
    The loss of the right of something because of failure to meet the terms of an agreement.
  • Formal Entry
    See Consumption Entry.
  • Forwarding Fee
    A fee charged by a lender for information on a loan such as processing a mortgage payoff.
  • Free on Board (FOB)
    Used to clarify who pays freight charges in connection with the selling price of an article by the seller to the buyer at a specified point. It must always be followed by clarification as to what point the cargo has been handled free on board, e.g., dock of warehouse at origin, and should(...)
  • Free-Time
    A period of time specified by a carrier during which no charge will be assessed for holding cargo at a pier, dock, warehouse facility, etc., pending pickup by a consignee, or for allowing a container, trailer or railcar to be held by a customer or consignee for loading or unloading. See(...)
  • Freight
    Goods to be shipped or transported.
  • Freight All Kinds (FAK)
    Rates assessed regardless of the commodity being transported. It is normally used with ocean or rail carriage, and normally only when no specific commodity rate is available.
  • Freight Bill
    A document for describing a shipment, its weight, amount of charges, the rate for charges, taxes and whether charges are collected or prepaid.
  • Freight Charges
    The charge assessed for transporting freight.
  • Freight Forwarder
    A licensed business that assembles and dispatches shipments on behalf of others in foreign or domestic commerce and handles the formalities involved with such shipments.
  • Front Footage
    The measurement of the length of the property line that borders the street.
  • Fuel Surcharge
    A mechanism for distributing needed fuel-cost recovery revenue to van operators and haulers who are responsible for purchasing fuel.
  • Functional Obsolescence
    Defects in a structure that take away from its value, and ultimately, its marketability. Such defects usually involve physical or design features of the structure that are no longer desirable to property buyers. These defects are referred to as curable if they can be replaced and incurable if(...)
  • Furniture Allowance
    See Household Furnishing Allowance.
  • General Average
    A loss due to a successful voluntary sacrifice of any part of a vessel or cargo to avoid loss of the whole vessel or cargo. The value of such a loss is apportioned among all customers and the vessel itself. Until the assessment is paid, a lien lies against the whole cargo aboard the vessel.
  • General Commodities
    Common freight, except for Class A and B explosives, bulk commodities and household goods.
  • General Commodity Rate
    Rates assessed regardless of the goods being transported, normally applied to air carriage, and only used when no specific commodity rate is available.
  • Goods and Services Differential
    An allowance to compensate a transferring employee for differences in the cost of goods and services between the old location and the new location. Also called Cost-of-Living Allowance or Allowance.
  • Graduated-Payment Mortgage
    A loan in which the monthly payments gradually increase as a person's income increases until the loan is paid.
  • Grant Deed
    A warranted title to assure that the estate has not been previously conveyed to another, that the property has not been encumbered and that the grant will convey any title later acquired.
  • Grantee
    The purchaser of property. The person receiving a transfer of title.
  • Grantor
    The seller of property. The person transferring a title.
  • Gross Chargeable Weight
    Gross chargeable is equal to one pound chargeable for 166 cubic inches of consumed space by the shipment in the air freight industry. This converts to a density factor of 10.42 pounds per cubic foot on the net weight.
  • Gross Income
    A person's total income before taxes and expenses.
  • Gross Income Multiplier
    A number to express the relationship of gross income to sales price. The figure is calculated by multiplying the price by the gross annual income.
  • Gross Lease
    A lease whereby the landlord pays for all regular charges like repairs, taxes, insurance and operating expenses that normally come with ownership, and the tenant pays a fixed rent.
  • Gross Weight
    The weight of the truck after a shipment has been loaded.
  • Ground Lease
    A long-term lease for land only, requiring the lessee to build his or her own building as stated in the lease.
  • Group Move
    Planning, organizing and executing every aspect of both the facility and employee relocation.
  • Growth Equity Mortgage
    A loan, similar to the graduated-payment mortgage, where the monthly payment on a fixed-rate mortgage increases as the person's income increases.
  • Handling Charge
    A charge normally applied at both the port of embarkation and port of debarkation to cover the physical handling of cargo.
  • Hardship Allowance
    A continuing sum paid to an expatriate assigned to a location with hazardous living and/or working conditions.
  • Hauler
    The van operator or agent that actually performs the service of transporting the goods on his or her equipment.
  • Hauling Agent
    The agent the hauling operator represents.
  • Hazard Insurance
    Insurance protecting against fire, flood, wind, etc.
  • Hazardous Materials Handbook
    A manual for van operators containing vital information on hazardous materials. Operators must be familiar with this manual if hauling this commodity.
  • Health Certificate
    A certified statement from a physician as to the health and physical condition of an individual, often required to substantiate the need for a specific prescription drug. A certified statement from a veterinarian as to the health, medical history, inoculation history and physical condition of(...)
  • Helper
    A person hired by the van operator or agent to assist in the loading and unloading of goods.
  • Hidden Defect
    An imperfection or anything that limits the interest on a title that is unknown in public records. This may include forged documents, unknown heirs or marriages, etc. A hidden defect also may apply to the property itself, such as a defective electrical wiring, that may not be discovered(...)
  • Highest and Best Use
    The use of a property that is most likely to produce the largest income and highest value. Opposite of Adverse Land Use.
  • Home Country
    The homeland of an expatriate or the location from which an expatriate was transferred.
  • Home-Finding Assistance
    Buyer assistance offered by a third-party that gives the buyer pertinent information about the new location.
  • Home-Finding Trip
    A trip taken by a transferring employee to the new location to find a home.
  • Home Leave
    A visit to the home country by an expatriate while still assigned to a host country. This cost is usually reimbursed or partly reimbursed by the company, but regular vacation time is used.
  • Home Leave Allowance
    An allowance for the costs of a home leave. This allowance may be a portion of the costs, for a specific expense, or open-ended.
  • Home Value
    An estimate of the current market price at which a home is most likely to sell.
  • Homeowner's Insurance Policy
    A residential insurance policy that covers the house and its contents.
  • Host Country
    The foreign location in which an expatriate resides until completion of an assignment. Also called Foreign Post.
  • Host Country Payment
    The total salary paid to an expatriate in the host country. This amount is usually compared to the amount of the home salary. Also called Foreign Payment.
  • Hours of Service
    The maximum legal hours a van operator may drive and work.
  • Household Furnishing Allowance
    An amount given an expatriate to furnish the home, either partially or fully, in the event a household goods shipment was not permitted. Also called Furniture Allowance.
  • Household Goods Descriptive Inventory
    See Inventory.
  • Household Goods (HHG)
    Personal goods or property used or to be used in a home.
  • Housing Allowance
    See Cost-of-Living Allowance, Allowance, and Goods and Services Differential.
  • Housing Differential
    The paid difference between the housing costs of the host location and the home location when the former exceeds the latter.
  • Hypothecate
    To pledge personal or real property as security for a loan or obligation without giving it up.
  • Immediate Transportation Entry
    Allows the cargo to be moved from the port or airport of entry to an inland destination via a bonded carrier. Customs clearance and payment of duty, if applicable, will be accomplished at the inland point.
  • Import
    To bring goods in from a foreign country.
  • Import Permit
    A special permit or license issued by a government agency before various items can be imported into that country. May vary with product and/or country.
  • Impound Account
    See Escrow Account.
  • Improvements
    Renovations and structures added to a home or land like a fence, driveway, curb, sidewalk and sewer that increase the use, value and marketability of the home or land. Improvements on land are usually privately owned structures. Improvements to land are usually publicly owned, but aid in the(...)
  • In Bond
    A term referring to the status of merchandise admitted provisionally into a country without payment of duty or permanent release by Customs, for placement into storage or for transport to another point where permanent release and assessment of duties will be accomplished, or where the goods(...)
  • In Transit
    In transit, or in passage.
  • Incidentals
    These are minor expenses like laundry or telephone calls that occur during a temporary relocation.
  • Incline Dolly
    Equipment used to move goods on or off stairs. It often is used with a stairmobile. See Stairmobile.
  • Income Approach
    Estimating income-producing property value by means of capitalization of net operating income. This appraisal approach is useful in estimating the value of apartments, offices, shopping centers and other investment properties. Also called the Income Capitalization Approach.
  • Income Capitalization Approach
    See Income Approach.
  • Indemnification
    A promise to reimburse a person for damage or loss.
  • Independent Contractor
    See Owner-Operator.
  • Index
    Used to measure periodic interest rate fluctuations for an adjustable rate mortgage.
  • Individual Shipper
    The individual requesting movement of a shipment and paying the transportation charges.
  • Info Claim File
    A claim that has been received from a customer with no claimed amounts.
  • Information Sheet
    See Fly Sheet.
  • Ingress
    The right to enter a tract of land. See Egress, Access and Easement.
  • Inherent Vice
    An existing condition of an article that may cause damage to that article if transported.
  • Inland Bill of Lading
    Used to document transportation of goods between two points within Canada, usually between an inland point and a port or airport. See Air Waybill and Bill of Lading.
  • Installment Contract
    A contract between the buyer and seller whereby the buyer pays for the property in installments for a period of time, but the seller holds the title until the final payment is made.
  • Installment Note
    See Note.
  • Installment Sale
    A shorter fixed-term, lower-than-conventional, fixed-rate mortgage offered by the seller to the buyer for a specified annual payment creating lower monthly payments and a balloon payment at the end of the term.
  • Instrument
    A legal written document such as a grant, deed or contract.
  • Insurance Binder
    A temporary title coverage that must be replaced by a permanent policy.
  • Interchange
    The transportation of one carrier's equipment by another carrier. See Interlining.
  • Interchange Agreement
    An agreement between two carriers allowing for the equipment of one carrier to be transported or used by the other carrier, outlining responsibilities for liability of the equipment and any per diem charges.
  • Interest
    A charge for borrowed money. Interest is a percentage of the principal.
  • Interest Rate
    A charge, expressed in a percentage, for use of a lender's money.
  • Interim Living Allowance
    See Temporary Living Allowance.
  • Interlining
    The transfer of a shipment from one point to another between two different carriers. See Interchange.
  • Intermodal
    Freight shifted from one mode of transportation to another (road to rail, rail to ocean, road to air), with the freight generally in shipping containers and meeting certain criteria previously agreed upon among the carriers involved.
  • Internal Packaging
    The supporting of goods inside a package to protect against damage during transportation.
  • International moving
    Moving outside the borders of Canada.
  • Inventory (INV)
    A listing of all goods contained in a shipment and their condition. It is used as a condition report and as a receipt of acceptance of the goods by the customer. Also called Household Goods Descriptive Inventory.
  • Invoice
    The bill presented to the customer for payment of charges.
  • Involuntary Lien
    A lien that is imposed against a property by law without consent of the owner.
  • Irregular Route Carrier
    Any carrier providing non-scheduled service over irregular routes.
  • Irrevocable Consent
    An agreement incapable of being changed or revoked.
  • Item
    Separate provisions in a tariff.
  • Joint Rate
    A single rate between an origin and destination point offered by two or more connecting carriers.
  • Joint Tenancy
    Joint ownership by two or more persons having equal rights in the property. If one owner dies, the surviving owner receives that share. Also called Tenancy by the Entirety.
  • Judgment Lien
    A lien on a property resulting from a judicial decision.
  • Junior Mortgage
    A mortgage second in lien to a previous mortgage. A Second Mortgage.
  • Labourer
    A person hired by the van operator or agent to assist in the loading and unloading of goods.
  • Land Contract
    A contract agreement in which the seller retains title to a sold property, but gives the property to the buyer so long as the buyer does not default on the terms of the contract.
  • Landed Value
    Value of goods upon arrival at destination, including the cost or value of the goods themselves, plus all costs incurred for packaging, packing, containerization, freight charges, transportation, insurance charge and handling, through to the destination.
  • Last Receiving
    A deadline date and time specified by a carrier by which cargo must be received at a designated location so that such cargo can be boarded on a particular vessel, aircraft, truck or railcar.
  • Late Charge
    A fee charged to the borrower if mortgage payments are received late, or by a customer if a shipment is not picked up or delivered within the specified dates.
  • Late Delivery
    Delivery of goods to the destination after the agreed delivery dates.
  • Lease
    A contract transferring the right to occupy exclusive possession of a property for rent.
  • Lease Cancellation Penalty
    A fee charged to a tenant if he or she breaks the lease before the end of the lease.
  • Leasehold
    A personal property interest a tenant has in property during the term of a lease.
  • Legal Description
    A property description that identifies the location of the property from government surveys and maps, not street address.
  • Lender
    The firm lending money to a borrower in a loan transaction. Also called Mortgagee.
  • Lender's Inspection Fee
    A charge for inspections made by the lender.
  • Lender's Title Insurance
    A title policy protecting the lender against loss due to problems with a title. Usually written for the amount of the loan and paid by the buyer through a onetime premium.
  • Less-Than-Container load (LCL)
    When goods shipped by a carrier, normally a steamship, are placed into a common container with other cargo or loose into the holds of the vessel. Less-Than-Carload applies to rail transport.
  • Less-Than-Truckload (LTL)
    When goods shipped by a carrier share a trailer with other customers' cargo. Also used applicable to rates based on such individual cargo as opposed to full utilization of a trailer.
  • Lessee
    A person who rents property under a lease. A tenant.
  • Lessee Interest
    The interest a lessee has in a property if the agreed rent is less than the economic rent.
  • Lessor
    A person who rents property to another. A landlord.
  • Letter of Authority
    A letter authorizing Matco to move an employee, assuring that the commercial account will pay for the move if no purchase order or order for service is used.
  • Letter of Credit
    An agreement by a bank guaranteeing the bank will honor a customer's drafts or payments.
  • Letter of Indemnity
    A document used to obtain release of cargo from a steamship line without the original ocean bill of lading.
  • Leverage
    The ability to control a large amount of real estate with a little amount of money.
  • Levy
    The process of imposing a tax upon a person or property.
  • Liability
    See Carrier Liability.
  • Liability Insurance
    Insurance to cover property damage and/or bodily injury to someone else.
  • Lien
    A charge a person has on the property of another to secure a debt. For example, a lien can be placed on a property by the government if the taxes were not paid.
  • Lighter Aboard Ship (LASH)
    A vessel that carries floating barges aboard an oceangoing vessel, normally termed the mother vessel. Cargo is loaded onto the barges at a dock or pier facility at the port and then the barges are towed on the mother vessel at anchor in the harbor.
  • Lighterman
    Transports goods on a barge or other water conveyance to/from a vessel within a port or by the same means between two points within the port.
  • Limited Partnership
    A partnership of one or more people who are fully liable and one or more people who are liable only for the amount they have invested.
  • Linehaul (LH)
    The transportation revenues on a shipment.
  • Listing
    A contract between a seller and a broker authorizing the agent to secure the sales of a property.
  • Living Allowance
    See Allowance, Cost-of-Living Allowance, and Goods and Services Differential.
  • Load Date
    The date on which the shipment is actually picked up.
  • Load Spread
    Agreed pick-up dates.
  • Loan
    Money borrowed to be repaid with interest.
  • Loan Origination Fee
    A one-time charge for processing a loan, usually a percentage of the loan amount.
  • Loan Qualification
    The criteria a borrower must meet to ensure his or her ability to make payments on the loan.
  • Loan Submission
    Documents on a property that are used in the review and consideration of a mortgage application.
  • Loan-to-Value Ratio (LTV)
    The ratio of a mortgage's principal to the property's appraised value or sales price, expressed as a percentage.
  • Local Move
    A move within a particular geographical area like a town or district instead of a state or country.
  • Local Rates
    Varying rates charged by a carrier based within a local area.
  • Lock-In Rate
    A fixed interest rate on a mortgage that is set for the buyer to take advantage of during a specified time period.
  • Log Book
    A daily record of the hours worked and the route traveled by a van operator.
  • Long Carry
    Carrying goods the distance from the van to the outside entrance of a home or inside entrance of an apartment in excess of 75 feet. Each 50 feet after, or fraction thereof, is chargeable. See Elevator, Stair Carry and Long Carry Charge.
  • Long Distance
    A shipment that cannot be serviced in one day because of the distance of the move.
  • Loose Stow
    Individual pieces or cartons loaded directly into a steamship or air container for transport, as opposed to the articles being containerized.
  • Lumper
    A person hired by the van operator or agent to assist in the loading and unloading of goods.
  • Manner of Payment Verification
    A form sent by the lender to the borrower's previous lender for verification of payment and manner of payment of the borrower.
  • Margin
    Points added to the index to determine the interest rate on an adjustable rate mortgage.
  • Market Data Approach
    See Direct Sales Comparison Approach.
  • Market Price
    The current actual selling price of a property.
  • Market Value
    The price that would be paid for a property based on market trends. Also called Fair Market Value.
  • Marketable Title
    A title clear of liens and acceptable to a buyer.
  • Maturity Date
    The end of a mortgage's term when the mortgage is paid in full or renewed.
  • Mechanical Damage
    Damage to an item because of mechanical malfunctions, not mishandling from the van operator.
  • Mechanic's Lien
    A lien created for a person who has performed work or furnished materials in the improvement or building of property to secure payment of materials.
  • Metes and Bounds
    A deed description defining the boundaries of a land by directions and distances.
  • Mileage Guide
    Official guide specified by tariff and used by carriers to determine mileage from one city to another, regardless of the route actually driven.
  • Mill
    One-tenth of one cent used to compute property tax.
  • Minimum Charge
    The minimum fee for which a shipment may be legally handled.
  • Minimum Density
    The minimum weight-to-cube ratio of a surface shipment on which the weigh charge of the shipment will be computed. For air freight, see Gross Chargeable Weight.
  • Minimum Weight
    The designated weight level at which a particular rate must be assessed. Below this level, higher rates may be applicable; above this level, lower rates may be considered.
  • Miscellaneous Carrying Costs
    The costs of owning and maintaining both the old and new homes that are not covered under general maintenance.
  • Miscellaneous Expenses
    The costs for the new home comforts like draperies, cable television installation and appliance hook-up.
  • Misrepresentation
    A false statement of fact made with the intent of inducing action by another party.
  • Mobility Premium
    A sum paid to an expatriate upon completion of a foreign assignment. It sometimes includes a completion bonus. Also called Acceptance Bonus.
  • Monthly Payments
    Payments made to a mortgage on a monthly basis, including the interest on the previous month.
  • Mortgage
    An instrument giving a lender a lien on property to secure payments of a loan.
  • Mortgage-Backed Securities (MBS)
    Investment securities whereby an investor holds undivided interest in mortgages or trust deeds and receives income from them to pay for the investment. The securities are guaranteed by many mortgages.
  • Mortgage Broker
    A licensed person who negotiates the mortgage contract between the borrower and the lender.
  • Mortgage Escrow
    See Escrow Account.
  • Mortgage Guaranty Insurance Corporation (MGIC)
    A private insurer of residential mortgage loans.
  • Mortgage Insurance
    An insurance plan that will pay off the remaining balance of a mortgage if the mortgagor dies or becomes disabled.
  • Mortgage Insurance Application Fee
    A processing charge for application of mortgage insurance.
  • Mortgage Interest
    See Interest.
  • Mortgage Interest Differential (MID)
    An amount paid by a company to an employee to offset any difference in the interest rates between the old mortgage and the new mortgage.
  • Mortgage Service Charge
    A fee charged by a lender for the purpose of processing a mortgage loan application. Also called Origination Fee.
  • Mortgage Subsidy
    A financing method that allows a homebuyer to reside in a home for a specified period of time before making monthly payments. Money saved is applied to the down payment or is deposited into an account to fund additional expenses.
  • Mortgagee
    The lender in a mortgage transaction.
  • Mortgagor
    The person who borrows money for a mortgage loan.
  • Mother Vessel
    An oceangoing vessel that carries barges under a lighter aboard ship service. See Lighter Aboard Ship.
  • Motor Carrier (MC)
    A carrier by motor vehicle.
  • Motor Vehicle Inventory
    A form used when transporting an automobile, motorcycle or boat that lists the vehicle's miles and condition at both origin and destination.
  • Moving Van
    Similar to a logistics trailer except generally having a dropped floor to increase volume and ease loading from the ground.
  • Municipal Lien Fee
    A charge for a document from the city in which the property is located.
  • Municipal Requirements
    Local municipality requirements that must be met to transfer a title.
  • Narrative Appraisal Report
    A report detailing the reasoning behind an appraiser's estimate of value.
  • Negative Amortization
    A reversal of amortization whereby a loan's unpaid principal balance increases because payments made to the loan do not cover the full amount of interest due.
  • Net Weight
    The actual weight of a shipment obtained by subtracting the tare weight from the gross weight.
  • New Products (NP)
    Unfinished items to be transported to manufacture a completed product or finished items that do not come under the classification of the special products tariff.
  • Non-Vessel Operating Common Carrier (NVOCC)
    Combines or consolidates small less-than-container load shipments or orders of one or more customers by stowing such cargo into steamship containers.
  • Nonconforming Use
    Property use that was once acceptable but now is prohibited by zoning laws.
  • Nonliquidity Rate
    A charge for time needed to turn real estate into cash.
  • Normal Destination Service
    Delivery to and unpacking at a single family residence occupying a single ground floor, with such residence readily accessible from a public thoroughfare, with unpacking performed at the time of the initial delivery to the residence and applicable removal of any packing materials, dunnage,(...)
  • Normal Origin Service
    The proper preparation of a household goods shipment at the origin residence, with such residence readily accessible from a public thoroughfare; the containerization of the goods, with such containerization being performed either at the origin residence or at the warehouse of the origin agent,(...)
  • Note
    A written promise and acknowledgement to pay a debt by a specified time. Also called Promissory Note or Installment Note.
  • Notification Address
    Destination address of customer for contact.
  • Notification of Delay
    Matco Moving Solutions advises the customer that the shipment will be late, along with the reason for delay, the last known location and the new dates set by Matco. Also called Extensions.
  • Ocean Bill of Lading
    A receipt for the cargo and contract for transportation between a customer and an ocean carrier between points and/or ports as stated on the document. It can either be negotiable or non-negotiable.
  • Offer
    A written proposal made by the potential buyer to the seller in the purchase of property.
  • Open-End Mortgage
    An expandable mortgage allowing the mortgagor to borrow more money without rewriting the initial mortgage.
  • Open Listing
    Unlike the exclusive right to sell listing, this gives the opportunity of securing a purchaser to a number of real estate brokers without the disadvantage of compensating any agent except the one who secures a buyer or acceptance by the seller.
  • Open Mortgage
    Gives the borrower the ability to make a partial or full payment of the principal at any time and without penalty.
  • Operating Authority
    The government permit that defines the scope of a carrier's operation by area and commodity.
  • Opinion of Value
    See Broker Price Opinion.
  • Option
    The right to purchase a property under certain conditions, time limitations and a designated price.
  • Oral Contract
    A verbal agreement.
  • Origin
    The beginning location from which a shipment is transported.
  • Origin Dispatch
    Area dispatch office servicing the region in which a shipment originates.
  • Origin Service
    A service like packing, arranging for appliance servicing and maid service provided by the origin agent at the origin of a shipment.
  • Origination Fee
    A onetime fee for the cost of a mortgage application. Also called Mortgage Service Charge.
  • Over-Improvement
    An improvement made to land that is not the highest and best use because of its excess cost or size.
  • Overage
    The accidental delivery of an item to a customer or warehouse when the item actually belongs to someone else. All overages should be reported immediately to Matco Moving Solutions so that it can be returned to the rightful owner.
  • Overcharge Claim
    A claim filed by a customer regarding transportation charges, packing or other services, rather than property damage.
  • Overflow (OF)
    The portion of a shipment that cannot be loaded on one van or into one container due to lack of available space. Another van is assigned to load overflow portions.
  • Overseas Premium
    See Foreign Service Premium.
  • Owner-Operator
    The driver, operator or the legal owner of the tractor.
  • Owner's Title Insurance
    See Title Insurance.
  • Packed by Carrier (PBC or CP)
    Matco Moving Solutions packs the goods at origin.
  • Packed by Owner (PBO)
    The owner packs the goods at origin.
  • Packing Date
    A date set aside for packing. It is usually one day prior to loading the goods.
  • Packing List
    A detailed listing of all packed items in a shipment. It is often combined as one document form with the inventory.
  • Packing Material
    Materials used to safely pack items and prepare them for moving, including boxes, cartons, tape and wrap.
  • Packing (PKG)
    Either the services or the material required to prepare a shipment for safe transportation and handling.
  • Packing Service Report
    A document that provides a record of special services performed like packing and appliance services.
  • Pads
    Blanket-like padded material used for covering articles of furniture during a shipment.
  • Pallet
    A portable platform for holding material for storage or transportation. Also called Skid.
  • Palletized
    A term denoting that storage containers are stacked on pallets.
  • Parcel
    A container, article or object wrapped or packed up. A lot or a specific portion of a larger tract of land
  • Partial pack
    Packing of only the breakable items in specialty containers to ensure safe transit.
  • Party Wall
    A wall erected between two adjacent properties for use by both properties.
  • Patent
    A deed of title to land owned by the government and transferred to an individual.
  • Per Diem
    Charges paid by one carrier for use of freight cars, trailers or containers of another carrier. A daily expense allowance to a transferred employee for temporary living expenses
  • Performance Report
    Another term for the additional services performed at origin/destination and delivery report or the operation excellence questionnaire.
  • Permanent Storage
    The warehousing of a shipment indefinitely.
  • Permits
    The federal authorization granted to a van operator to use a commercial vehicle.
  • Personal Property
    Items included in a home that will not stay in the home when sold unless they are listed in the contract. Items that are moveable.
  • Personal Property Tax
    A tax on personal property imposed by some provinces.
  • Physical Damage Insurance
    Insurance to cover a tractor, trailer, van, etc., for fire, theft, combined additional coverage and collision.
  • Physical Deterioration
    The physical depreciation of a structure that, in return, decreases its value. Physical deterioration can be either curable, where needed repairs are worth fixing, or incurable, where such repairs would be non-beneficial compared to the value of the structure.
  • Piano Board
    A device used primarily to move pianos up or down stairs.
  • Pick Up and Delivery Rates
    Separate transportation rates applicable between the storage in transit warehouse and the residence or other establishment.
  • Piggyback Loan
    One mortgage on a property with two lenders.
  • Piti
    The total of the principle, interest, taxes and insurance that make up the all-inclusive monthly mortgage payments.
  • Place of Delivery
    Place where cargo leaves the care and custody of carrier.
  • Plat
    A drawing of a piece of land including lots, streets, etc.
  • Plat Book
    A book of maps in a particular county for public record.
  • Plot Plan
    A diagram of improvements of an area of ground.
  • Point
    A one-time charge on a mortgage principal, paid when the mortgage is taken out. One point equals one percent.
  • Port of Debarkation
    A place where the cargo is off-loaded from a conveyance like a vessel or aircraft for purposes of transhipment to another point or for making cargo available to the consignee as per the bill of lading.
  • Port of Discharge
    See Port of Debarkation.
  • Port of Embarkation
    A place where the cargo is loaded onto a conveyance like a vessel or aircraft to commence the voyage or flight for which the cargo has been booked.
  • Portability
    An option that allows a borrower to take a current mortgage with him or her to another property.
  • Possession Date
    The date the buyer may take proprietorship of a property.
  • Power of Attorney
    See Attorney-in-Fact.
  • Pre-Approved Mortgage
    Qualifies a buyer before he or she begins shopping for a home, so that the buyer will know an exact price range and make an offer upon finding the right home.
  • Pre-Existing Damage
    Damage that already existed on an item before being shipped.
  • Preclosing
    A meeting used to settle outstanding issues and where documents are prepared, reviewed and signed before the formal closing.
  • Preferred Arrival Date (PAD)
    The date the customer requests for delivery of goods.
  • Prepaid Expenses
    Escrow items like taxes and insurance, credit reports, photographs or fees that require payment at closing.
  • Prepaid Shipment
    A shipment on which all or part of the transportation charges have been paid to Matco Moving Solutions prior to its arrival at destination.
  • Prepayment
    A payment on a principal before its due date.
  • Prepayment Penalty
    A charge to the borrower if the mortgage is paid off before required.
  • Prepayment Privilege
    A borrower's voluntary right to pay all or part of a debt before its maturity.
  • Principal
    The amount remaining on a mortgage, not including interest.
  • Principal Agent
    A mover who has a regular and ongoing agreement to act as an agent for a household goods van line and performs a range of services like selling, packing and hauling in the name of the van line.
  • Principal Balance
    A loan's outstanding balance.
  • Principle of Change
    A principle that no economic or physical condition remains the same.
  • Principle of Conformity
    A principle that buildings be similar in design, construction and age with regard to other buildings in the neighbourhood.
  • Principle of Contribution
    A principle that improvements to a property are worth only what the improvements add to the property's market value, not their actual cost.
  • Principle of Substitution
    An appraisal theory that the market value of a property is influenced by the cost of purchasing a comparable property. Insurance by a private company to protect the mortgage investor against loss by default.
  • Pro Number
    A number used to identify individual freight bills or bills of lading.
  • Promissory Note
    See Note.
  • Proof of Delivery (POD)
    Same as delivery receipt (above)
  • Property
    Land and chattel in which an individual may have a right or interest.
  • Property Damage Claim
    A claim filed for damage to a home, lawn, driveway or landscaping, caused by the van operator during the loading or unloading of a shipment or damage to property due to an accident.
  • Property Damage Insurance
    Insurance to cover property damage.
  • Property Taxes
    Taxes imposed by the city or provincial government, determined by the size and location of a property.
  • Proration of Taxes
    The balanced division of taxes between a buyer and a seller at closing.
  • Proviso
    An old term for the classification of articles of a shipment. See First Proviso, Second Proviso and Third Proviso.
  • Purchase Agreement
    A written agreement that states the seller's and the buyer's intentions, along with the terms of the sale. Also called Contract of Sale, Sales Contract and Agreement of Sale.
  • Purchase-Money Mortgage (PMM)
    A mortgage given by the buyer to the seller for partial payment of a property.
  • Purchase Order
    A written authorization for billing a move to a company. It is sometimes used in place of the order for service form.
  • Quiet Title
    A court action used to remove a cloud on the title.
  • Quitclaim Deed
    A deed relinquishing all interest or title in a property a person might have.
  • Quotation
    An offer to sell goods or provide a service (transportation) at a stated price and under stated terms.
  • Ramp
    A metal, wooden or fiberglass slope used to bridge an incline.
  • Rate
    Charges applicable to the transportation and services on a shipment.
  • 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.).
  • Rating System
    A system designed to be able to rate all shipments, pulling information from the point systems, registration file and tariff system.
  • Re-Enlistment Bonus
    See Assignment Extension Bonus.
  • Real Estate
    Land and the structures on, above and below it.
  • Real Estate Agent
    A licensed professional who has the ability to sell property and who works for a licensed real estate broker. Although the salesperson works for a broker, he or she may have already obtained an individual broker's license.
  • Real Estate Broker
    A licensed real estate professional or company that assists others in buying and selling property.
  • Real Estate Commission (REC)
    A payment to a broker for assisting with the selling a home. It is usually a percentage of the sale price.
  • Real Estate Inspection Service
    An inspection service used to document the condition of a home. The home is that which the transferee is selling or buying. The report will list any defects found so that they may be remedied.
  • Real Estate Salesperson
    A person employed by a real estate broker to sell a property for compensation or valuable consideration.
  • Real Estate Tax
    A tax assessed by the local government against the ownership of land and everything on it.
  • Real Property
    Land and everything permanent on the land. Also called Real Estate.
  • Reasonable Dispatch
    The dates or period of time agreed upon by the customer and Matco Moving Solutions to pick up and deliver a shipment, as noted on the Bill of Lading.
  • Reconciliation
    The final estimate of the market value of a property made by an appraiser by reconciling the estimates of the direct sales comparison approach, cost approach and income approach. Also called Final Value Estimate.
  • Reconsignment
    A change in the final consignee on the bill of lading prior to delivery.
  • Reconveyance
    The transfer of real property from the buyer back to the original owner.
  • Recording
    The public filing of bills of sale, deeds, liens, mortgages and other documents as legal records.
  • Recording Charge
    A charge for filing public records like deeds, liens, mortgages and bills of sale.
  • Redemption Period
    A period during which a property owner can buy back property that has been foreclosed by paying the sales price, interest and costs.
  • Redlining
    Restricting the number of loans available in certain areas of the community.
  • Reefer
    A slang term for a refrigerated trailer.
  • Refinancing
    The process of rearranging finances to pay one loan with another for a better interest rate.
  • Refund
    Return of excess charges.
  • Register
    To provide the van line all pertinent information regarding a shipment so that arrangements can be made to handle the shipment from start to finish.
  • Registration Number
    A reference number assigned to identify a shipment. The number will appear on all documentation and correspondence.
  • Registration Year
    The year in which registration is issued.
  • Release of Lien
    Acknowledgment that excuses a property from the lien of a mortgage after partial payment and satisfaction has been made by the mortgagee. See Deed of Release.
  • Released Rate Liability
    A valuation protection option available for shipping household effects.
  • Released Value (REL VAL)
    The value declared on a shipment that establishes the carrier's liability for loss or damage.
  • Relocation Allowance
    See Allowance.
  • Relocation Assistance
    A service provided to an employee for assistance in a relocation.
  • Relocation Center
    A facility that provides clients with information about the new city or area of the new home. These centers often offer service to both individuals and corporations and are established by real estate firms or relocation specialists.
  • Relocation Expenses
    Any financial costs resulting from a relocation.
  • Relocation Kit
    A packet of information sent to a transferee containing pertinent information on the new location.
  • Relocation Management Company
    A third-party business used to administer a company's relocation policy. A relocation management company makes fair market value offers to purchase the homes of transferees, provide counseling and aid in the home search. It also can coordinate shipments, write corporate relocation policies and(...)
  • Relocation Policy
    A policy of benefits and services provided by a company to its transferring employee during a relocation.
  • Remedy
    Money or action used as compensation for a wrongful condition.
  • Remittance
    Funds sent by one person to another as payment.
  • Renegotiable Rate Mortgage
    A variable rate mortgage with an interest rate that automatically adjusts every 3, 4 or 5 years. The adjustment is made according to the Federal Home Loan Bank Board national average mortgage contract interest rate of existing homes. A specified percentage is set so that the adjustment will(...)
  • Renewal
    Renegotiation at the end of a mortgage's term for a new term.
  • Repairs
    Any restoring or renovating to a home to better its condition prior to selling. Fixing an item damaged in transit.
  • Replacement Cost
    The cost of replacing property damaged, lost or stolen, with a similar property.
  • Replacement Value Protection
    A valuation protection option available for shipping household effects.
  • Replacement Value Protection Exclusions
    Replacement Value Protection coverage does not cover certain items such as accounts, bills, deeds, evidence of debt, letters of credit, passports, documents, airline or other tickets, money, currency, coin or stamp collections, bullion, notes, securities, manuscripts, mechanical drawings, dies(...)
  • Required Delivery Date (RDD)
    The mandatory delivery date agreed upon by the military and the agent on military shipments.
  • Rescission of Contract
    The termination of a contract by mutual consent of all concerned parties that returns all parties to their original positions. See Right of Rescission.
  • Reserve Account
    See Escrow Account.
  • Residential moving
    Relocating household goods from one place of residence to another.
  • Rest and Recreation Trip
    A company-paid trip awarded to expatriates assigned to a foreign location, especially those locations abnormally difficult or hazardous. This trip differs from a home leave in that vacation time is not used.
  • Restrictions of Record
    When an owner of a property is legally restricted from certain things or uses relating to the property.
  • Restrictive Covenants
    See Zoning.
  • Resubmit
    A counteroffer made by the seller after the initial offer with the intention of agreeing to a sale.
  • Reverse Annuity Mortgage (RAM)
    A loan that allows elderly homeowners to borrow money against the equity of their homes and receive monthly payments to assist in meeting their living costs.
  • Revocable
    Capable of being changed, canceled or recalled.
  • Reweigh
    When there is doubt about the origin weight of a shipment, a reweigh may be requested by the customer at destination. There is no charge for the reweigh; however, charges are calculated on the new weight.
  • RFQ
    Request for quotation.
  • Right of First Refusal
    The right to the first opportunity to purchase a property.
  • Right of Redemption
    The right to reclaim a property during foreclosure within a certain time period.
  • Right of Rescission
    The right of a buyer to cancel a contract within three days after signing. Applies by law only in limited circumstances.
  • Right of Survivorship
    The right of survivors to acquire interest once held in joint ownership by a relative who is now deceased. See Joint Tenancy and Tenancy by the Entirety.
  • Right of Way
    An easement whereby a land owner gives someone the right of way to cross the land.
  • Riparian Rights
    The right of a land owner to all water on, under or adjacent to the land.
  • Ro-Ro Vessel
    A "roll on/roll off" vessel with spaced decks and ramps that allow for a conventional highway trailer to be pulled onto the vessel by a tractor and then be parked and secured to a deck. This vessel is used especially for oversized cargo like construction machinery and buses, and can be thought(...)
  • Rollover Time
    The time gap between the third-party's acquisition of a property and the closing date.
  • Route
    The manner in which a shipment moves; i.e., the carriers handling it and the points at which the carriers interchange.
  • Route Cards
    A card with the control number or pro number assigned to a bill of lading to identify individual shipments.
  • Routing
    The preference of a customer when more than one route between origin and destination points may be followed by one carrier because of interchanging or interlining with another carrier. Normally adhered to by carriers, provided the rate involved would not change.
  • Sale-Leaseback
    A seller deeds a property to a buyer, who, in return, leases the property back to the seller.
  • Sales Contract
    A written agreement between the seller and buyer whereby the seller agrees to the terms of the sale, giving transfer of ownership to the buyer.
  • Salvage
    The retrieving of damaged items from the customer for which Matco Moving Solutions paid full value in the settlement.
  • Satisfaction of Mortgage
    The complete fulfillment of a mortgage.
  • Scale Ticket
    A voucher providing the weigh scale reading for tare weight and/or gross weight of a van./p>
  • Schooling Allowance
    See Education Allowance.
  • Seal
    A special metal closure inserted on the doors of a steamship container or a truck that must be broken to be opened, and is used to determine if any tampering with the contents may have occurred.
  • Second Mortgage
    An additional loan, usually with a shorter term and higher interest rate, that is inferior to and is imposed upon the first mortgage.