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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.

Underimprovement

An improvement that is less than a property's highest and best use.

Underwriting

The analysis and matching of risk to an appropriate rate or term.

Underwriting Fee

A charge for underwriting a loan during the review process.

Unencumbered Property

A property with a title that is free and clear.

Unit

An apartment, condominium or piece of property used independently. Under law, each unit owner has access to a public way and holds interest in the surrounding common elements.

Unit Load Device (ULD)

A container or pallet used for air carriage to facilitate ground handling at airports as well as the loading and unloading of the aircraft.

Unpacking

All the containers packed by Matco will be unpacked at the destination.

Usury

Charging an interest rate in excess of what the law allows.