A contract for transportation between a shipper and a carrier. It also evidences receipt of the cargo by the carrier. A bill of lading shows ownership of the cargo and, if made negotiable, can be bought, sold or traded while the goods are in-transit.
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O.E.C.D.

Organization of Economic Cooperation and Development, headquartered in Paris with membership consisting of the world's developed nations.
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On Board

A notation on a bill of lading that cargo has been loaded on board a vessel. Used to satisfy the requirements of a letter of credit, in the absence of an express requirement to the contrary.
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On Deck

A notation on a bill of lading that the cargo has been stowed on the open deck of the ship.
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Open Account

A trade arrangement in which goods are shipped to a foreign buyer without guarantee of payment.
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Open Insurance Policy

A marine insurance policy that applies to all shipments made by an exporter over a period of time rather than to one shipment only.
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Open Top Container

A container fitted with a solid removable roof, or with a tarpaulin roof so the container can be loaded or unloaded from the top.
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Optimum Cube

The highest level of cube utilisation that can be achieved when loading cargo into a container.
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Order-Notify (O/N)

A bill of lading term to provide surrender of the original bill of lading before freight is released; usually associated with a shipment covered under a letter of credit.
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Origin

Location where shipment begins its movement.
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Original Bill of Lading (OBL)

A document which requires proper signatures for consummating carriage of contract. Must be marked as "original" by the issuing carrier.
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OS&D

Abbreviation for "Over, Short or Damaged" Usually discovered at cargo unloading.
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Overheight Cargo

Cargo more than eight feet high which thus cannot fit into a standard container.

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