Max Gross Weight (MGW)
The maximum weight allowable for a loaded container. Also referred to as "gross weight".
Master Lease Agreement (MLA)
Short term, flexible lease agreement which allows lessee to onhire and offhire containers in pre-determined list of locations.
Owner Code
The first three letters associated with the container number that is registered with the BIC.
One Way Lease (OWL)
Short term lease agreement intended to allow for the use of containers for one trip, usually from a single pick-up location to a limited number of redelivery locations.
Product Group Code
A one-digit alpha code that is a part of the container prefix; U for all freight containers, J for detachable freight container equipment, and Z for trailers and chassis.
Pre-Trip Inspection (PTI)
Inspection and test done on a reefer container to ensure the cooling mechanism is working properly and container condition makes it suitable for transport of goods.
Registration Number
The 6-digit number associated with the container number; also known as the serial number.
RAL Color Coding
RAL is a color matching system first established by Reichs-Ausschuß für Lieferbedingungen und Gütesicherung (German Institute for Quality Assurance and Certification) in 1927 . It is commonly used to select the color of the coating applied on shipping containers.
Shipper Owned Container (SOC)
A container owned or leased by the shipper – new or used – to transport goods. With Shipper Owned Containers (SOCs), shipping lines are contracted to provide only the transport service. SOC is by opposition to COC.
Sale and Lease Back (SLB)
An arrangement in which the company that sells an asset can lease back that same asset from the purchaser.
Survey Report
Report established by a surveyor after inspection with a view to documenting condition of the container and generally serving to establish whether the container is suitable for transportation or not.
Tiltbed Trailer
Trailer with a tiltable deck used to deliver/pick-up containers to/from the ground.