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W Dictionary Terms

Waiting Time
The time at which no one is at the residence to accept household goods, giving the van operator the option to wait for a resident. National accounts must authorize waiting time. There is a charge for labor and unit.
Waiver
  1. Authorization by a national account to ship an employee's household goods without that employee's signature on the order for service.
  2. To voluntarily give up. A waiver is often included in a contract to protect against breach of that contract.
Waiver Clause
A clause stating that no commission be due to the real estate broker listing a property if the homeowner accepts the third-party offer and directly sells the property to the third party. Also called Exclusion Clause.
Waiver of Release of Liability
A disclaimer used when a seller agrees to sell a home on a mortgage assumption basis without getting a release of liability from the mortgagee.
Walk Board
A ramp used from a van to the ground to eliminate lifting heavy objects.
Warehouse
A building for the storage of goods, merchandise and equipment.
Warehouse Handling Charge
An additional charge applicable each time storage in transit service is provided. This charge compensates the carrier for the physical placement and removal of items within the warehouse like stacking, unstacking, etc.
Warehouse Receipt
Receipt for warehousing services.
Warehousing
A line of credit given to a mortgage banker by a commercial banker to fund secondary market investors. The mortgage banker will borrow the money and use it to fund mortgages. The mortgages are used as collateral for the initial loan.
Warranty Deed
A deed whereby the seller guarantees a clear title.
Way
An access like a street or alley that is meant for passage by persons or vehicles.
Weighing Procedure
The process for a shipment to be weighed.
Weight Additives
A weight, per linear foot, added to the net weight to compensate the operator for excessive van space used. The item must be stated in the tariff before a charge can be assessed.
Weight Break
The breaks given in a rate schedule at which the charges per specified weight decrease as the shipment increases in weight, and that allow the option of utilizing a higher weight level than the actual weight involved at a lower rate, resulting in reduced assessed charges.
Weight Guide
A listing of household goods average weights to be utilized on shipments released at a carrier's liability of 60 cents per pound per article.
Weight Ticket
A certificate needed to show the weight of a shipment. It shows the weight of each shipment weighed on certified scales and the weight of the vehicle without a load. It also is used when ordering permits. Also called Scale Ticket.
WGT or WT (Abbr)
Weight.
Wharfage
A charge by a port authority or wharf/pier owner against a vessel for using its wharf/pier for loading and unloading.
Whole Loan
The purchase or sale of a complete loan in the secondary mortgage market instead of the purchase or sale of a participation of loans like mortgage-backed securities.
Will Advise (WA)
The term used when it is known that a shipment is moving, but dates for pickup or delivery have not yet been established.
Wraparound Mortgage
A loan that combines the seller's unpaid balance from a first mortgage with a new mortgage. The initial mortgage is refinanced for a higher dollar amount.
Writ of Attachment
Seizure of a property by a court order for holding as security for satisfaction of a judgment.
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