An unusual sale in a marketplace. Parents selling a property to their children for below market value may be an abnormal sale.
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.
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.
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.
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.
An agreement by the seller to the terms of the sale.
The right to utilize land that may be privately owned for public purposes. See Ingress, Egress and Easement.
A means to a property.
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 property and has the right to decide when the fence will be taken down or if it will remain up.
Fees for accessorial services. Also called Additional Services Charges.
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.
A structure secondary to the main building on a property, e.g., a garage, shed or pump house.
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.
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.
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.
The total cost of the move from start to finish.
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.
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.
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.
The unfavorable use of a property that possibly depreciates its value.
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.
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.
A receipt for the cargo and contract for the transportation between a customer and an air carrier.
The difference between actual weight and constructive weight.
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.
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.
Repayment of the principal and/or interest of a debt over a specified period of time.
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.
Preparation of appliances to make them safe for transportation. This does not include the disconnecting of plumbing or electrical service. See Third-Party Service.
A charge to start the loan process.
An estimate made by an appraiser of the value of a property.
A charge for a statement of property value.
Appraisal Review Fee
A charge for reviewing an appraisal.
The value of a property determined by averaging additional appraisals.
An experienced professional who is licensed to estimate the value of a property.
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.
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.
An arrangement whereby the buyer and seller voluntarily enter into a transaction with equal bargaining positions.
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 applicable charges, or any other requirements that must be met prior to release.
As is Agreement
An agreement stating the property is being sold in its present condition.
The process of taking household goods apart for transportation and putting them back together at destination.
A tax, or assessed value, placed on a property for purposes like public improvement or maintenance.
The person who determines assessed values.
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.
The person who receives a transfer of property.
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.
The person who transfers property.
Assumable Rate Mortgage
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.
A person who is authorized to act on the behalf of another person.
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.
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.
A mortgage that is paid off in one lump sum at the end of a specified term.
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.
A salary that does not include allowances or deductions.
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.
Net charges billed.
The weight on which all charges are based.
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.
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.
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.
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.
An area with decreasing property values, usually in inner cities, because of adverse land uses, depreciating buildings or lower economic influences.
A shipment belonging to a deceased member of the military.
Made in good faith without fraud or deceit.
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.
A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.
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.
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 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.
A party that arranges transportation for a customer.
The bringing together of parties for completion of a real estate transaction.
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.
To provide fuel for an oceangoing vessel.
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.
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.
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.
A written agreement to terminate a sales contract.
A limit on the increase of an interest rate for an adjustable rate loan.
Freight being transported by air, ship or vehicle.
A claim filed for damage to household goods being transported by Matco Moving Solutions.
The movement of goods by a carrier. See Contract Carriage.
A company in the business of transporting goods between points for compensation.
The financial liability for loss or damage of goods based on the value placed on the goods.
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 release of the cargo.
Maintenance expenses resulting from the ownership of a property (especially a residential property) like insurance, utilities and taxes.
Transporting goods to or from storage.
Someone who transports goods within the confines of a port. Also called a Drayman.
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 paid in a claims settlement for loss or damage to property.
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.
A mortgage secured by personal property.
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 apparent 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.
A mortgage that cannot be prepaid until maturity or during a specific period.
The delivery of the deed after the terms of the contract have been met, making the buyer the official owner of the property.
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.
The costs of purchasing a property in addition to the purchase price, such as fees and insurance.
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.
Collect on Delivery (COD)
A shipment of non-household goods.
The company that ships a commercial shipment.
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.
A promise to loan money to a qualified borrower.
A fee paid by a lender to an investor in exchange for the investor's promise to buy a mortgage in the future.
An economic good or article of commerce when delivered for shipment.
A rate applied to a commodity named in a commodity tariff.
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.
A property equivalent in value to another property used to establish the latter property's value.
Competitive Market Analysis
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.
Your entire household will be packed and prepared for loading.
An extra payment to an expatriate upon completion of a foreign assignment. Often part of the mobility premium.
Fulfilling the requirements on shipping documents and papers in accordance with government regulations.
Interest paid on the principal of a mortgage plus the accrued interest.
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.
A common payment by condominium owners allocated to pay expenses.
Individual ownership of one unit in a multiunit development and joint ownership of the common elements outside the unit. See Common Elements.
A conference of vessel operators who provide service within a specified trade route and who agree to certain fixed rates within that route.
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.
The person at destination named as the receiver of the shipment.
The person at origin who arranges for the transportation of the shipment.
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.
A short-term loan for financing construction. As the work progresses, the lender makes periodic payments to the builder.
A special invoice required by certain countries to control and identify goods being imported into that country.
A customs entry 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.
The use of a standard box, carton, drum or barrel to transport freight.
A requirement or qualification stated in a contract that must be met before the contract is final.
A legally binding agreement between two or more persons/organizations to carry out reciprocal obligations or value.
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 installments over a period of time with the remaining balance due at maturity.
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.
The rental income in a lease agreement.
A deed or written instrument to transfer title or an interest in property.
A means of transportation.
Ownership of an apartment whereby the building is owned by a corporation and the apartment owner owns stock in the corporation.
An invoice correcting charges and/or rates on the original invoice.
A person who signs a legal document and becomes jointly responsible for fulfilling the obligations under the contract.
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.
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 dealing specifically with goods and services.
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
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.
Agreements written into deeds, leases, mortgages, etc., promising performance or non-performance of certain uses or non-uses of a property.
Items that require extra protection can be custom crated for added security.
A rating based on a person's present financial condition and past credit history.
A report to determine a person's credit rating and ability to pay a loan.
Credit Report Fee
A charge for a credit report.
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 written measurement of household goods items. Also called Table of Measurements.
A fee imposed by a country on imports and exports.
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 between government authorities and importers and exporters.
The place or building where custom fees are collected.
Fees placed on imports and exports.
The place where a physical examination of imports and exports is done.
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).
The process of obtaining release of goods from Customs, including documentation handling and processing, but not including the physical handling of the cargo for examination.
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.
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.
When a piece of property arrives at the destination in a condition different from pick-up.
Date of Entry
The date on which proper documentation is presented by the consignee to the Canadian or U.S. Customs Service for 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.
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.
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.
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.
The difference between the mortgage meant to be paid and the amount at foreclosure.
A claim filed for expenses incurred as a result of a late pick-up or delivery, usually for motel and meal expenses.
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.
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.
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.
The ratio of an item's weight to its volume.
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.
The reproduction or replacement cost of a building, less depreciation to the time of appraisal.
A decrease in value of a property. See Appreciation.
A guide showing the average life span of an item and its estimated depreciation each year.
The final point of delivery of the goods as specified by the customer.
Destination Agent (DA)
The destination contact for the customer. This also is the agent who, if shipment is going into storage, is the authorized receiving agent.
Services performed upon arrival of shipment at destination.
A charge to the customer for keeping a container beyond a certain time limit. See Demurrage and Free-Time.
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 Competitive Market Analysis or Market Data Approach.
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 owner rather than by Matco Moving Solutions.
Coordinates the movement of shipments from origin to destination.
Assumes the task of communicating the route of a shipment to van operators and agents, making sure that instructions are carried out accordingly.
Disposition of Present Home
The activities and expenses experienced in making the necessary arrangements to sell a house or to break a lease agreement.
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.
An elevated section of a building that is level with a van for ease of loading and unloading.
Receipt issued by an ocean carrier or its agent for merchandise delivered at a dock or warehouse awaiting shipment.
A charge for preparation of legal documents such as a mortgage or deed.
A small platform on rollers or wheels used to handle freight.
A shipment moving within Canada.
The service from origin residence to destination residence, exclusive of any storage in transit, customs duties, taxes, warehouse handling, etc.
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.
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.
An amount paid toward the purchase of property.
Moving freight within a city.
The person who performs drayage. Also called Cartman.
Material other than packaging used to prevent damage to freight or to support it in shipment.
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.
A tax imposed on the importation or exportation of goods by the federal, provincial or local government.
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. See Access, Egress and Ingress.
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 Contract Rent.
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 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.
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.
A claim, lien or charge on a property that lessens its value, or an obstruction that affects the physical condition of a property.
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.
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.
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.
A government tax imposed on the consumption, manufacturing or sale of commodities, but not on property.
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.
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.
A citizen employed and living in a foreign country.
A valuation extension on a shipment in storage in transit.
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.
Fair Market Value (FMV)
The largest possible estate, right of ownership or interest in a property a person can have without time limitation.
A person serving in a position of trust and confidence for another.
Final Value Estimate
A fee that must be paid to get a loan.
An agreement to loan or insure a loan on a property.
A mortgage that is first obtained on a home and is first to be foreclosed.
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.
Annual costs, like taxes or insurance, that must be paid whether or not the property is occupied.
A mortgage loan in which the interest rate stays the same for the term of the loan.
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.
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.
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 minimum density factor.
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.
A document containing specific information on each real estate listing such as room descriptions. Also called Data Sheet or Information Sheet.
Delaying foreclosure on a mortgage with an agreement to make up payments at a later date.
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.
Procedure whereby a lender sells a property to collect payment due to default and to pay off debt.
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.
The loss of the right of something because of failure to meet the terms of an agreement.
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 always specify to what point the freight charges have been prepaid.
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 Demurrage and Detention.
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.
A document for describing a shipment, its weight, amount of charges, the rate for charges, taxes and whether charges are collected or prepaid.
The charge assessed for transporting freight.
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.
The measurement of the length of the property line that borders the street.
A mechanism for distributing needed fuel-cost recovery revenue to van operators and haulers who are responsible for purchasing fuel.
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 they cannot.
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.
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.
A loan in which the monthly payments gradually increase as a person's income increases until the loan is paid.
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.
The purchaser of property. The person receiving a transfer of title.
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.
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.
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.
The weight of the truck after a shipment has been loaded.
A long-term lease for land only, requiring the lessee to build his or her own building as stated in the lease.
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.
A charge normally applied at both the port of embarkation and port of debarkation to cover the physical handling of cargo.
A continuing sum paid to an expatriate assigned to a location with hazardous living and/or working conditions.
The van operator or agent that actually performs the service of transporting the goods on his or her equipment.
The agent the hauling operator represents.
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.
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 a domestic pet. Normally required for entry of domestic pets into certain countries.
A person hired by the van operator or agent to assist in the loading and unloading of goods.
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 through inspection.
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.
The homeland of an expatriate or the location from which an expatriate was transferred.
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.
An estimate of the current market price at which a home is most likely to sell.
Buyer assistance offered by a third-party that gives the buyer pertinent information about the new location.
A trip taken by a transferring employee to the new location to find a home.
Homeowner's Insurance Policy
A residential insurance policy that covers the house and its contents.
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 (HHG)
Personal goods or property used or to be used in a home.
Household Goods Descriptive Inventory
The paid difference between the housing costs of the host location and the home location when the former exceeds the latter.
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.
To bring goods in from a foreign country.
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.
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 development of the land.
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 will be exported from Canada or U.S. All additional charges are assessed by the customer.
These are minor expenses like laundry or telephone calls that occur during a temporary relocation.
Equipment used to move goods on or off stairs. It often is used with a stairmobile. See Stairmobile.
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
A promise to reimburse a person for damage or loss.
Used to measure periodic interest rate fluctuations for an adjustable rate mortgage.
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.
The right to enter a tract of land. See Egress, Access and Easement.
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.
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.
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.
A legal written document such as a grant, deed or contract.
A temporary title coverage that must be replaced by a permanent policy.
The transportation of one carrier's equipment by another carrier. See Interlining.
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.
A charge for borrowed money. Interest is a percentage of the principal.
A charge, expressed in a percentage, for use of a lender's money.
Interim Living Allowance
The transfer of a shipment from one point to another between two different carriers. See Interchange.
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.
The supporting of goods inside a package to protect against damage during transportation.
Moving outside the borders of Canada.
In transit, or in passage.
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.
The bill presented to the customer for payment of charges.
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.
An agreement incapable of being changed or revoked.
Separate provisions in a tariff.
A single rate between an origin and destination point offered by two or more connecting carriers.
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.
A lien on a property resulting from a judicial decision.
A mortgage second in lien to a previous mortgage. A Second Mortgage.
A person hired by the van operator or agent to assist in the loading and unloading of goods.
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.
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.
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.
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.
Delivery of goods to the destination after the agreed delivery dates.
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.
A personal property interest a tenant has in property during the term of a lease.
A property description that identifies the location of the property from government surveys and maps, not street address.
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.
A person who rents property under a lease. A tenant.
The interest a lessee has in a property if the agreed rent is less than the economic rent.
A person who rents property to another. A landlord.
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.
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.
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.
The ability to control a large amount of real estate with a little amount of money.
The process of imposing a tax upon a person or property.
See Carrier Liability.
Insurance to cover property damage and/or bodily injury to someone else.
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.
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.
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.
The transportation revenues on a shipment.
A contract between a seller and a broker authorizing the agent to secure the sales of a property.
See Allowance, Cost-of-Living Allowance, and Goods and Services Differential.
The date on which the shipment is actually picked up.
Agreed pick-up dates.
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.
The criteria a borrower must meet to ensure his or her ability to make payments on the loan.
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.
A move within a particular geographical area like a town or district instead of a state or country.
Varying rates charged by a carrier based within a local area.
A fixed interest rate on a mortgage that is set for the buyer to take advantage of during a specified time period.
A daily record of the hours worked and the route traveled by a van operator.
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.
A shipment that cannot be serviced in one day because of the distance of the move.
Individual pieces or cartons loaded directly into a steamship or air container for transport, as opposed to the articles being containerized.
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.
Points added to the index to determine the interest rate on an adjustable rate mortgage.
Market Data Approach
The current actual selling price of a property.
The price that would be paid for a property based on market trends. Also called Fair Market Value.
A title clear of liens and acceptable to a buyer.
The end of a mortgage's term when the mortgage is paid in full or renewed.
Damage to an item because of mechanical malfunctions, not mishandling from the van operator.
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.
Official guide specified by tariff and used by carriers to determine mileage from one city to another, regardless of the route actually driven.
One-tenth of one cent used to compute property tax.
The minimum fee for which a shipment may be legally handled.
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.
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.
The costs for the new home comforts like draperies, cable television installation and appliance hook-up.
A false statement of fact made with the intent of inducing action by another party.
A sum paid to an expatriate upon completion of a foreign assignment. It sometimes includes a completion bonus. Also called Acceptance Bonus.
Payments made to a mortgage on a monthly basis, including the interest on the previous month.
An instrument giving a lender a lien on property to secure payments of a loan.
A licensed person who negotiates the mortgage contract between the borrower and the lender.
Mortgage Guaranty Insurance Corporation (MGIC)
A private insurer of residential mortgage loans.
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 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.
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.
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.
The lender in a mortgage transaction.
The person who borrows money for a mortgage loan.
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.
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.
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.
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.
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.
Property use that was once acceptable but now is prohibited by zoning laws.
A charge for time needed to turn real estate into cash.
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.
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, debris, at that time. Any services not falling within this description would be considered non-standard and would necessitate additional charges to the customer for the services rendered.
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, dependent upon applicable procedures or commitments made for the handling of a specific shipment.
A written promise and acknowledgement to pay a debt by a specified time. Also called Promissory Note or Installment Note.
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.
A written proposal made by the potential buyer to the seller in the purchase of property.
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.
Gives the borrower the ability to make a partial or full payment of the principal at any time and without penalty.
An expandable mortgage allowing the mortgagor to borrow more money without rewriting the initial mortgage.
The government permit that defines the scope of a carrier's operation by area and commodity.
Opinion of Value
The right to purchase a property under certain conditions, time limitations and a designated price.
A verbal agreement.
The beginning location from which a shipment is transported.
Area dispatch office servicing the region in which a shipment originates.
A service like packing, arranging for appliance servicing and maid service provided by the origin agent at the origin of a shipment.
A onetime fee for the cost of a mortgage application. Also called Mortgage Service Charge.
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.
A claim filed by a customer regarding transportation charges, packing or other services, rather than property damage.
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.
An improvement made to land that is not the highest and best use because of its excess cost or size.
The driver, operator or the legal owner of the tractor.
Owner's 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.
Either the services or the material required to prepare a shipment for safe transportation and handling.
A date set aside for packing. It is usually one day prior to loading the goods.
A detailed listing of all packed items in a shipment. It is often combined as one document form with the inventory.
Materials used to safely pack items and prepare them for moving, including boxes, cartons, tape and wrap.
Packing Service Report
A document that provides a record of special services performed like packing and appliance services.
Blanket-like padded material used for covering articles of furniture during a shipment.
A portable platform for holding material for storage or transportation. Also called Skid.
A term denoting that storage containers are stacked on pallets.
A container, article or object wrapped or packed up.
A lot or a specific portion of a larger tract of land.
Packing of only the breakable items in specialty containers to ensure safe transit.
A wall erected between two adjacent properties for use by both properties.
A deed of title to land owned by the government and transferred to an individual.
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.
Another term for the additional services performed at origin/destination and delivery report or the operation excellence questionnaire.
The warehousing of a shipment indefinitely.
The federal authorization granted to a van operator to use a commercial vehicle.
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.
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.
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.
One mortgage on a property with two lenders.
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.
A drawing of a piece of land including lots, streets, etc.
A book of maps in a particular county for public record.
A diagram of improvements of an area of ground.
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.
An option that allows a borrower to take a current mortgage with him or her to another property.
The date the buyer may take proprietorship of a property.
Power of Attorney
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.
A meeting used to settle outstanding issues and where documents are prepared, reviewed and signed before the formal closing.
Damage that already existed on an item before being shipped.
Preferred Arrival Date (PAD)
The date the customer requests for delivery of goods.
Escrow items like taxes and insurance, credit reports, photographs or fees that require payment at closing.
A shipment on which all or part of the transportation charges have been paid to Matco Moving Solutions prior to its arrival at destination.
A payment on a principal before its due date.
A charge to the borrower if the mortgage is paid off before required.
A borrower's voluntary right to pay all or part of a debt before its maturity.
The amount remaining on a mortgage, not including interest.
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.
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.
A number used to identify individual freight bills or bills of lading.
Proof of Delivery (POD)
Same as delivery receipt (above)
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.
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.
An old term for the classification of articles of a shipment. See First Proviso, Second Proviso and Third Proviso.
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.
A written authorization for billing a move to a company. It is sometimes used in place of the order for service form.
Purchase-Money Mortgage (PMM)
A mortgage given by the buyer to the seller for partial payment of a property.
A court action used to remove a cloud on the title.
A deed relinquishing all interest or title in a property a person might have.
An offer to sell goods or provide a service (transportation) at a stated price and under stated terms.
A metal, wooden or fiberglass slope used to bridge an incline.
Charges applicable to the transportation and services on a shipment.
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.).
A system designed to be able to rate all shipments, pulling information from the point systems, registration file and tariff system.
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.
Land and everything permanent on the land. Also called Real Estate.
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.
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.
A change in the final consignee on the bill of lading prior to delivery.
The transfer of real property from the buyer back to the original owner.
The public filing of bills of sale, deeds, liens, mortgages and other documents as legal records.
A charge for filing public records like deeds, liens, mortgages and bills of sale.
A period during which a property owner can buy back property that has been foreclosed by paying the sales price, interest and costs.
Restricting the number of loans available in certain areas of the community.
A slang term for a refrigerated trailer.
The process of rearranging finances to pay one loan with another for a better interest rate.
Return of excess charges.
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.
A reference number assigned to identify a shipment. The number will appear on all documentation and correspondence.
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.
A service provided to an employee for assistance in a relocation.
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.
Any financial costs resulting from a relocation.
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 offer lease management options.
A policy of benefits and services provided by a company to its transferring employee during a relocation.
Money or action used as compensation for a wrongful condition.
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 not vary greatly every year.
Renegotiation at the end of a mortgage's term for a new term.
Any restoring or renovating to a home to better its condition prior to selling.
Fixing an item damaged in transit.
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 or patterns, precious stones, jewellery, dried flowers, aircraft or aircraft parts, trailers or non-admissible water craft.
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.
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.
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.
Capable of being changed, canceled or recalled.
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.
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.
The right of a land owner to all water on, under or adjacent to the land.
The time gap between the third-party's acquisition of a property and the closing date.
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 of as a floating parking garage.
The manner in which a shipment moves; i.e., the carriers handling it and the points at which the carriers interchange.
A card with the control number or pro number assigned to a bill of lading to identify individual shipments.
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.
A seller deeds a property to a buyer, who, in return, leases the property back to the seller.
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.
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.
A voucher providing the weigh scale reading for tare weight and/or gross weight of a van./p>
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.
An additional loan, usually with a shorter term and higher interest rate, that is inferior to and is imposed upon the first mortgage.
An old term for a shipment consisting of furniture, fixtures, equipment and the property of stores, offices, museums, institutions, hospitals and other establishments.
Self-Haul (SLF or SH)
The booking agent's right to perform all services using its own personnel and equipment.
The price a buyer actually pays for a property.
A freight-carrying, powerless truck trailer with one or more axles and constructed so that the front end rests upon a truck tractor.
Property owned individually that is not considered community property or is jointly owned.
The restricted zoning area of a property between the curb and an imaginary line running parallel to the curb where no structure may be built.
The temporary holding of a shipment at a point between origin and destination.
A real estate closing cost that includes payment of all monies and the preparation of the deed.
A piece of furniture or property is put together to its complete state.
Shared Appreciation Mortgage
A mortgage where the lender shares in the appreciation of a property when sold. It is a fixed-rate, fixed-term, lower-than-conventional mortgage.
A court-induced deed given with the sale of property to satisfy a judgment.
Shipment (SPMT or SHMT)
Property made available by a customer for transportation by Matco Moving Solutions.
The person paying for the move, the employee moving for a national account, or the person being moved by the military or government.
Shipper Load & Count
The customer counts, pads, loads and unloads.
Instructions given to Matco Moving Solutions for transportation of a shipment.
Contract with a customer for a limited period of time. Certain pricing restrictions and service parameters apply when this contract method is utilized.
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 Auxiliary Service.
A type of contract giving an all-inclusive rate for basic tariff charges for a shipment.
Land that, with the addition of utilities or other services, is suitable for building purposes.
A land's location.
A small, thin paper pad used to protect a shipment for transportation.
One individual has ownership of a property.
Source of Down Payment Statement
A written report identifying the funding sources utilized for the down payment. These sources may be a savings account, prior home sale, etc.
Documents issued by the military that declare an individual is authorized to move.
Special Products (SP or SA)
Commodities like electronic microscopes, radio and radar equipment, biomedical products, computers, exhibits, general commodities and new products that have an unusual nature or value requiring specialized handling or equipment.
Special Purpose Property
A property that is declared for a certain use, making it inconvenient for other purposes.
Special Warranty Deed
A deed limiting the seller's liability against title defects during his or her time of ownership and not any defects before that time.
Specific Commodity Rate
Custom-made economy rates based on criteria of quantity, frequency of shipping or physical nature of a particular item or goods.
A court of equity decision requiring the defendant to uphold the terms of an agreement or contract.
The portion of a person's salary that goes toward expenses like food, savings, investments and life insurance. The costs of housing and transportation are excluded from spendable income.
Spendable Income for Housing
See Home Location Housing Cost.
A shipment loaded on a commercial truckload trailer.
Agreed period of time stating the earliest and latest delivery dates the shipment will arrive at destination. Also called Delivery Spread.
Square Foot Method
Method for calculating the reproduction cost of a building in which the cost per square foot of a recently built comparable structure is multiplied by the number of square feet in the subject property.
Moving a shipment up or down a flight of stairs. The charge for this carry is listed as the Elevator, Stair Carry and Long Carry Charge.
A piece of power equipment used in the moving of items up or down stairs.
Statement of Customer Responsibilities/Inventory of Items of High Value
A form used to assist the customer in determining total value of a shipment and to aid Matco Moving Solutions in determining what items need special handling and protection.
Statute of Limitation
A law limiting the time in which claims or suits may be instituted.
A metal container either owned outright by a steamship line or leased from another source used for containerization or unitized handling of cargo with steamship lines.
A compensation for expenses an employee incurs while traveling if the route is extremely long.
Safekeeping of goods in a warehouse.
The plan as to how cargo has been placed or positioned within a container, vessel, truck, etc.
Straight Bill of Lading/Straight Consignment
A bill of lading that is non-negotiable, identifying only the individual who is to receive the goods and the terms of the contract.
A logistics control strap, used to secure tiers, that locks into tracking on the sides of a van operator's trailer.
Structural Engineer's Report
A report reflecting an engineer's inspection, stating the soundness of a structure.
Subject to Mortgage
A buyer takes over the title to a property and at the same time assumes the mortgage. Without a release of liability, the original maker of the mortgage remains responsible for the loan, but the buyer loses equity in a foreclosure.
A lease given by a lessee.
The substitution of the government or a national account's insurance carrier, which has paid a claim, for the owner of the household goods.
The use of a different mode of transportation to fulfill a bill of lading obligation.
Summary of Dispute Settlement Program
An arbitration program that can be used by the individual customer in settling disputes on loss and damage claims.
An invoice containing charges not billed on the original transportation invoice.
Supplemental Foreign Service Premium
See Hardship Premium.
Publications containing additions or revisions to the original tariff or other publications.
A charge above the usual or customary freight charges.
An additional extra tax.
Survey of a Shipment
A physical surveying of goods to be shipped to determine the estimated weight of the shipment.
Punitive action taken by military installations against a carrier/forwarder for tender of service violations.
A person hired by the van operator to assist in the loading and unloading of goods.
Table of Measurements
A document used to determine the cubic feet that furniture, appliances, cartons and miscellaneous articles occupy in the van. By converting the cubic feet into pounds, an estimated weight is acquired that is used in calculating the estimated cost for a move. Also called Cube Sheet.
A promise to make a loan at a future time, usually for construction financing and at a higher cost and shorter term.
The weight of a truck before a shipment is loaded, including all essential loading equipment and packing materials.
A published schedule of rules, rates and charges for the transportation of goods. The tariff provides the schedule of rates and charges from which Matco Moving Solutions computes the total cost of the move for the services performed.
Individual sections filed within the tariff that list the rules and application of the charges for each specific service.
System designed to store all tariff charges, rate schedules and sections found in each individual tariff. A rating system pulls information from the tariff system by use of a tariff number.
Asphalt paved areas of an airport not specifically used as aircraft runways, taxiways or gate areas, where cargo is held, unprotected, by a carrier when sufficient warehousing or terminal space is not available. It is an abbreviation for "Tar Macadam."
A charge assessed against a person or property by the government and used for public purposes.
A deed for property sold at a public sale by the government for nonpayment of taxes by the owner.
A claim against a property for its unpaid taxes.
Tax Return Preparation Allowance
A reimbursement to an expatriate for the expense of preparing income tax returns.
The sale of a property resulting from nonpayment of taxes.
Tax Service Fee
A charge for the processing of tax escrows, covering the cost of obtaining tax bills and disbursement.
Authorization in the form of a telex, teletype, telefax or cablegram given by the steamship line agent at the port of origin to the steamship line agent at the port of discharge to release the cargo to the consignee without an original ocean bill of lading. Due to government restrictions in some countries, such releases may not always be permissible.
An authority is granted temporary authority to operate.
Temporary Living Allowance
A reimbursement to an expatriate en route to a foreign location for expenses that may occur after leaving the old home and before moving into the new home. Also called Interim Living Allowance.
An estate or interest held by a person on a property.
Tenancy at Will
An estate in which a person occupies property with the permission of the owner for an unspecified amount of time. The owner can take back the property at any time.
Tenancy by the Entirety
When two or more persons jointly own a piece of property with equal interest. If one dies, the other receives that person's share. Also called Joint Tenancy.
Tenancy in Common
When two or more persons share ownership of a property with unequal interest and no right of survivorship. When one dies, that share will go to that person's heirs.
Time period between the commencement of the mortgage and its termination date.
Terms of Mortgage
The conditions of a mortgage, including payment schedule, interest rates and the time period a mortgage is guaranteed.
A term stating the container capacity of a container vessel and used in specifying minimum criteria within special marine rate contracts. The term stands for an equivalent of a 20-foot-long steamship container, eight feet wide and eight feet high. A 40-foot container would equal two TEUs.
An old term for Special Products.
Services performed by someone other than the agent, van operator or Matco Moving Solutions.
Third-Party Service Contract
The contract that exists between a third-party company and a corporation.
Thru-Bill of Lading
A bill of lading covering items moving from an origin point to a final destination point, assuring one carrier liability even though applicable handling, transport, carriage, etc. May be performed by multiple service firms and modes of transportation.
A rate that applies from origin to destination. It can be offered by a single carrier, even though the applicable service may entail interlining, transloading, transhipping or other underlying means of transport or handling.
The shipment is loaded on the van at the origin residence and remains on the same unit until unloaded at the destination residence.
A row of stacked household goods across a van operator's trailer.
The legal document proving evidence of ownership of property.
A problem in a property's title affecting its marketability. The defect may be an outstanding claim, encumbrance, lien, unreleased judgments, questionable prior deeds or the condition of the property.
Charges for examining public records to ensure a clear title.
A contract insuring loss due to defects in the title of a property.
An examination of public records, laws and court decisions to gather information on past and current facts regarding the ownership of a property to make sure the title is free of defects.
To Order of Consignment
A negotiable bill of lading bearing the clause "to order of" immediately prior to the name of the consignee. Such consignment requires that an original bill of lading, endorsed by the consignee on the bill of lading, be presented before the consignment can be released at destination. Because of the underlying reasons for use of a "to order of" bill of lading, release at destination without the bill of lading is virtually impossible.
Applicable to ocean freight rates and carriage, a measurement ton equals 40 cubic feet of space displaced by cargo, or if specified as a metric measurement ton, equals 35.325 cubic feet, which is a cubic meter. A long ton is equal to 2,240 pounds; a metric ton is equal to 2,204.60 pounds; a short ton is equal to 2,000 pounds.
Tracking and Tracing
Monitoring and recording shipment movements from origin to destination.
Trailer on Flat Car (TOFC)
Rail carriage on a flatbed railcar when the unit being transported is either a trailer with a permanent chassis attached or a steamship container duly mounted on a chassis. See Container on Flat Car.
Fee collected when property changes hands or when a mortgage loan is made.
The unloading of cargo from one vessel to another vessel at an intermediate port between the origin and destination port. Such transfer can be between vessels of the same line or with another line.
The total time that elapses between a shipment's pickup and delivery.
Based on a tariff rate per hundred pounds for the actual weight of a shipment and the number of kilometers it will be traveling. The cost of a single loading, transporting and unloading goods comprise the charge.
The difference between the transportation costs in an expatriate's home country and host country, including personal vehicles and public transportation.
A carton constructed with a triple thickness of corrugated cardboard, affording considerable strength to the carton. Used as a shipping container for air freight shipments.
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.
An improvement that is less than a property's highest and best use.
The analysis and matching of risk to an appropriate rate or term.
A charge for underwriting a loan during the review process.
A property with a title that is free and clear.
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.
All the containers packed by Matco will be unpacked at the destination.
Charging an interest rate in excess of what the law allows.
Includes the personalized service of putting dishes into cupboards and china cabinets and books onto bookshelves.
A limit on a carrier's liability in exchange for different transportation rates. Valuation is not insurance. See Replacement Value Protection.
Factors determining the worth of a property.
An estimate of a property's worth or the price a buyer would pay for a property based on current market trends.
The truck used for carrying household goods.
A motor carrier with local agents that coordinates the movement of Household Goods and Special Products.
Shipment is off-loaded en route from one van to another for various reasons.
Variable Rate Mortgage (VRM)
A fixed-term mortgage with an interest rate that changes with a fluctuating market.
The real estate buyer.
The real estate seller.
Vendor Take-Back Mortgage
The seller provides all or part of the mortgage financing to sell the property.
A verbal estimate of the market value of a property. It is followed by a written appraisal.
The verbal acceptance of a contract made under a third-party operation.
Verification of Deposit
A form sent to a financial institution to verify the checking and savings balances of the prospective borrower. The form is then sent back to the lender.
Verification of Employment
A form sent to the prospective borrower's employer for written verification of the employee's salary and length of employment.
An endorsement made by an authorized representative of one country upon a passport issued by another, permitting the passport holder entry into or transit through the country making the endorsement.
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.
A ramp used from a van to the ground to eliminate lifting heavy objects.
A building for the storage of goods, merchandise and equipment.
Receipt for warehousing services.
A deed whereby the seller guarantees a clear title.
An access like a street or alley that is meant for passage by persons or vehicles.
The process for a shipment to be weighed.
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.
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.
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.
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.
A charge by a port authority or wharf/pier owner against a vessel for using its wharf/pier for loading and unloading.
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.
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.
The annual amount of income earned on an investment. It is expressed as a percentage of the original price.
Guidelines enforced by city authorities on how properties in an area can be used.