Valuation Charges – Transportation charges assessed shippers who declare a value of goods higher than the value of carriers’ limits of liability.

Ves. – Vessel.

Visa – An invoice properly validated by the Minister of Trade in regard to quota entries.

Volume Weight – Used when calculating air freight when the size of the carton is greater than the average weight. It is calculated by multiplying the length times the width times the height and dividing by 166.