Glossary

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TAT stands for turnaround time. It is the amount of time taken to complete a process or fulfil a request after it has been assigned.

Related Glossaries

Fuel Surcharge

Fuel Surcharge is an extra fee levied on top of freight charges to account for variablility in fuel prices. Fuel surcharges could be fixed percentage value or a markup on indexed fuel rates - either prevailing petrol/diesle rates or international crude oil prices.

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2PL

A second-party logistics provider, commonly known as 2PL, is a carrier that owns and operates the mode of transportation for goods. This can include shipping lines that run ships, airlines that operate planes, or hauling companies that use vehicles. 2PLs are sometimes referred to as forwarders. For example, an airline company may also offer freight services to transport goods from the sender to the recipient.

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Hyper local delivery

A hyperlocal delivery model is an e-commerce model that leverages local offline shops to fulfill the on-demand needs of customers through a digital platform. The primary advantage of this model is that it allows for quick and easy fulfillment of customer requests. This model is particularly useful for meeting the immediate needs of customers for goods and services, such as groceries, medicines, and laundry services.

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Transit Insurance

Transit insurance is a type of insurance policy that provides coverage for business goods or personal belongings during transportation from one location to another. Such policies typically offer protection from the moment the goods are loaded onto the specified mode of conveyance (such as a truck) until they reach the destination declared on the policy.

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