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U Dictionary Terms

Underimprovement
An improvement that is less than a property's highest and best use.
Underwriting
The analysis and matching of risk to an appropriate rate or term.
Underwriting Fee
A charge for underwriting a loan during the review process.
Unencumbered Property
A property with a title that is free and clear.
Unit
An apartment, condominium or piece of property used independently. Under law, each unit owner has access to a public way and holds interest in the surrounding common elements.
Unit Load Device (ULD)
A container or pallet used for air carriage to facilitate ground handling at airports as well as the loading and unloading of the aircraft.
Unpacking (UNPK)
Services required to remove or undo packing of goods at the end of a shipment's transportation.
U.S. Customs Service
The government agency that imposes fees on imported and exported goods and is responsible for collecting such fees. Also called Customs.
U.S. Department of Agriculture (USDA)
Federal agency empowered to investigate and control various aspects of the agriculture industry, including controlling entry of undesirable plants and animals into and within the U.S. and plant and animal products and by-products. The U.S. Customs Service assists the USDA in the policing of cargo entering the U.S., possibly warranting an inspection and confiscation of certain foods. The USDA must be contacted when moving plants.
Usury
Charging an interest rate in excess of what the law allows.
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