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LOC in Air Cargo Meaning

The LOC meaning in Air Cargo terms is "Letter of Credit". There are 2 related meanings of the LOC Air Cargo abbreviation.

LOC on Air Cargo Full Forms

  1. Letter of Credit A financial document issued by a bank at the request of the consignee guaranteeing payment to the shipper for cargo, if certain terms and conditions are fulfilled, usually the receipt by the bank of certain documents within a given time. Normally it contains a brief description of the goods, documents required, a shipping date, and an expiration date after which payment will no longer be made. An Irrevocable Letter of Credit is one which obligates the issuing bank to pay the exporter when all terms and conditions of the letter of credit have been met. None of the terms and conditions may be changed without the consent of all parties to the letter of credit.
  2. Location A coding system that defines the physical placement of materials, usually to a high degree of specificity. A specific relational database server in a distributed relational database system. Each location has a unique location name. A place or position where circuits, services, or equipment are situated. A place where assets are operated, stored, or repaired.

Frequently Asked Questions (FAQ)

  1. What does LOC stand for Air Cargo?

    LOC stands for Location in Air Cargo terms.

  2. What is the shortened form of Location in Air Cargo?

    The short form of "Location" is LOC for Air Cargo.

Citation

LOC in Air Cargo. Acronym24.com. (2021, December 15). Retrieved November 22, 2024 from https://acronym24.com/loc-meaning-in-air-cargo/

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