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Early Possession

The buyer occupies a property prior to closing.

Earnest Money

A deposit that represents a buyer's good-faith intention. Earnest money protects the seller if the buyer breaks the contract, and is usually part of the down payment.

Easement

The right to someone else's property for limited use such as placing of electrical and cable wires or installing sewers. See Access, Egress and Ingress.

Economic Life

The total useful life expectancy of a building.

Economic Obsolescence

The loss in value of a property due to economic forces like land use or restrictions of property rights.

Economic Rent

The estimated rent potential of a property that is commanded by the open, competitive market. Rent increases with supply and demand. Compare to Contract Rent.

Education Allowance

A sum provided for an expatriate's children if the new foreign location does not provide adequate schooling. Also called Schooling Allowance.

Effective Age

The age of a building determined by its observed condition rather than its actual chronological age. The effective age can be influenced by depreciation, maintenance and remodeling/additions.

Effective Bottom-line Discount (EBLD)

Overall discount of contract shipments taking into effect all free charges and split discounts using the effective date of the contract as the base for the gross distributable charges. Total billable charges divided by total gross charges.

Egress

The right to leave a tract of land. See Ingress, Access and Easement.

Elevator, Stair Carry and Long Carry Charge

A tariff charge assessed to the customer whenever any one or more of these services are necessary to accomplish pickup or delivery. This is a per hundred weight charge, based on the actual weight carried.

En Route (ENRT)

On the way.

Encumbrance

A claim, lien or charge on a property that lessens its value, or an obstruction that affects the physical condition of a property.

Equity

The interest an owner has in a property that increases as payments increase.

Equity Bridge Loan

A loan borrowed against the worth of the borrower and the remaining amount owed. See Bridge Loan.

Escalator Clause

A contract statement granting the adjustment of certain payments to cover contingencies required in the contract like interest rates, maintenance and insurance.

Escrow

The delivery of funds and/or documents to a third-party to be held by the third-party until satisfaction of certain conditions. Escrow is usually used to close real estate transactions.

Escrow Account

An account into which escrow funds are disbursed. Also called Impound Account.

Escrow Closing

See Closed in Escrow.

Escrow Fees

Fees charged by a third-party responsible for holding escrow funds in an account for the buyer and seller.

Escrow Payment

The designated portion of a mortgagor's monthly payment to be held by the third-party to pay for taxes, insurance, etc.

Established Value

See Appraisal Value.

Estimate (EST)

An approximate calculation of the size, value, cost and, especially, weight of a shipment or the cost of transportation and services.

Estimate/Order for Service

A computation estimating the services and charges required to handle the transportation of goods, and an order to proceed with the transportation.

Estimated Cost of Service (EST)

A written document used by the origin agent as a preliminary inventory of a shipment to determine approximate charges for weight, special services, mileage, rate, charges, etc.

Estimated Time of Arrival (ETA)

The estimated time the shipment will arrive at destination.

Estimated Time of Departure (ETD)

The estimated time the van operator will leave the origin with the shipment or estimated date on which a vessel is to depart from a seaport.

Estimated Weight

An approximate weight of a shipment determined by multiplying the estimated cubes by 7 pounds.

Exception Report

A report itemizing additions or changes to the original inventory.

Excise Tax

A government tax imposed on the consumption, manufacturing or sale of commodities, but not on property.

Exclusive Agency

The real estate agency designated the sole agency for the sale of a property that can collect commission on the sale of the property if the property is sold by anyone other than the seller.

Exclusive Right to Sell Listing

An agreement between the owner and real estate agent that gives the agent the right to sell and collect commission on a property if sold by anyone except the seller.

Exempt Commodities

Commodities that are exempt from government rules and regulations for carriers.

Exemption

A tax discount given to eligible taxpayers by the government.

Exhibit

An advertising vehicle whereby an company demonstrates a product or service to prospective customers at a trade show.

Exhibit Shipment Control Information Form

A form to provide clear, complete and uniform information about each exhibit shipment to all participants involved in handling the shipment.

Expatriate

A citizen employed and living in a foreign country.

Expatriate Premium

See Foreign Service Premium.

Extended Liability

A valuation extension on a shipment in storage in transit.

Extensions

See Notification of Delay.

Extra Delivery

A portion of a shipment unloaded at a location other than the destination address indicated on the bill of lading.

Extra Pickup

A portion of a shipment loaded at a location other than the origin address indicated on the bill of lading. Also called Extra Stop.

Extra Stop

See Extra Pickup.

Extraction Method

See Abstraction.