International Trade Finance Terms from TEFO - K

K

Keelage

The charges paid by a ship entering or remaining in certain ports.

Key Currency

A major currency in the global economy. Key currencies include the U.S. dollar, the British pound sterling, the German mark, the Swiss franc, the French franc, the Dutch guilder, the Japanese yen and the Canadian dollar.

Kiosk

A small structure suitable for use as a newsstand, display stand, bandstand, study stand etc.

Knocked Down

An article disassembled, or unassembled, or taken apart, or folded, or telescoped to reduce its bulk; subject to easy assembly. This is usually done to reduce the dimensions of the shipping package and thereby to save transportation and storage costs.

Known Loss

1. loss discovered before or at the time of delivery of a shipment.
2. An evident loss (as opposed to a concealed loss or damage to contents within a package.)
3. A loss of which the insured and/or the insurer is aware at the time the insurance is effected.