Ocean Bill of Lading
A receipt for cargo in transit, and a contract between the exporter and an ocean carrier for transportation and delivery of goods to a specified party at a specified foreign destination. Issued after the vessel has sailed and the cargo has been entered in the ship's manifest.
ODS
An acronym commonly used for the term "operating differential subsidy," which is a payment to an American-flag carrier by the federal government to offset the difference in operating costs between US and foreign vessels.
Open Account
A high-risk trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.
Open Policy
A cargo insurance policy that is an open contract; i.e., it provides protection for all an exporter's shipments afloat or in transit within a specified geographical trade area for an unlimited period of time, until the policy is cancelled by the insured or by the insurance company. It is "open" because the goods that are shipped are also detailed at that time. This usually is shown in a document called a marine insurance certificate.
Original Equipment Manufacturers (OEM accounts)
Customers who incorporate the exporter's product into their own merchandise for resale under their own brand names.