The buyer occupies a property prior to closing.
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.
The right to someone else's property for limited use such as placing of electrical and cable wires or installing sewers.
The total useful life expectancy of a building.
The loss in value of a property due to economic forces like land use or restrictions of property rights.
The estimated rent potential of a property that is commanded by the open, competitive market. Rent increases with supply and demand. Compare to
A sum provided for an expatriate's children if the new foreign location does not provide adequate schooling. Also called Schooling Allowance.
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 Bottomline 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.
The right to leave a tract of land.
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.
A claim, lien or charge on a property that lessens its value, or an obstruction that affects the physical condition of a property.
Environmental Protection Agency (EPA)
A federal agency empowered to investigate and control entry into the U.S. of any motor vehicle not meeting federal emission control standards.
Equal Credit Opportunity Act (ECOA)
A federal law requiring lenders to loan without discrimination.
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.
A contract statement granting the adjustment of certain payments to cover contingencies required in the contract like interest rates, maintenance and insurance.
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.
An account into which escrow funds are disbursed. Also called Impound Account.
See Closed in Escrow.
Fees charged by a third-party responsible for holding escrow funds in an account for the buyer and seller.
The designated portion of a mortgagor's monthly payment to be held by the third-party to pay for taxes, insurance, etc.
See Appraisal Value.
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.
An approximate weight of a shipment determined by multiplying the estimated cubes by 7 pounds.
A report itemizing additions or changes to the original inventory.
Excess Tax Reimbursement Procedure
See Tax Equalization.
See Interchange Agreement.
A government tax imposed on the consumption, manufacturing or sale of commodities, but not on property.
See Waiver Clause.
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 Booking Letter
An Atlas term pertaining to corporate account shipments where the account has given Atlas specific written instructions as to which Atlas agent is preferred to serve as the booking agent for its shipments.
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.
When a customer requests that a shipment travel alone on a van, the customer will be charged actual weight, 9800 pounds or minimum of 7 pounds per cubic foot of the vehicle.
Commodities that are exempt from government rules and regulations for carriers.
A tax discount given to eligible taxpayers by the government.
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.
An Atlas all-risk policy to cover the exhibit properties and products during all phases of a trade show.
A U.S. citizen employed and living in a foreign country.
See Foreign Service Premium.
A special request for delivery of a less than 5000-pound shipment on a specified date. The customer pays for a 5000-pound shipment, more weight than the actual weight of the shipment, so better service can be provided.
A federal joint Bureau of the Census/International Trade Administration form used for compiling official U.S. export statistics and for enforcing U.S. export control laws and regulations. A form must be filed for all shipments, including household goods shipments, having a value of $500.00 or more.
A license issued to a customer by the Office of Export Administration authorizing export of a specified technology, product or manufacture of the U.S. to a specified country, in a specified quantity and for a specified time period.
A valuation extension on a shipment in storage in transit.
See Notification of Delay.
A portion of a shipment unloaded at a location other than the destination address indicated on the bill of lading.
A portion of a shipment loaded at a location other than the origin address indicated on the bill of lading. Also called Extra Stop.
See Extra Pickup.