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12.07.2013 09:33 |
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LEV
1) Low emission vehicle. Road vehicle equipped with an environmentally friendly diesel engine.
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12.07.2013 09:31 |
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Letter of hypothecation
1) Bank document outlining conditions under which international transactions will be executed on behalf of an exporter who has made specified pledges to the bank.
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12.07.2013 09:30 |
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Lessor
1) Firm that provides equipment/vehicle, etc on lease (ie the leasing company).
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12.07.2013 09:28 |
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Les Routiers
1) French organization which vets and approves accommodation/ eating places (Relais Routiers - transport cafes) mainly on grounds of cleanliness and good value.
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12.07.2013 09:26 |
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Legal incapacity
1) Term used in 'O' licensing when licence holder becomes incapable of managing his own affairs or becomes a patient under the Mental Health Act.
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12.07.2013 09:25 |
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LED
1) Light emitting diode. Form of 'bulb', which is often used for warning lights (eg as on Kienzle electronic tachographs to warn driver of fault in recording system).
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12.07.2013 09:32 |
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Letter of indemnity
1) A document that indemnifies a ship owner or agent from any consequences, risk or claims which may arise through 'clean' bills of lading being issued falsely.
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12.07.2013 09:30 |
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Letter of credit
1) Used in export trading. Letter which authorizes payment for goods shipped, usually when specified pre-conditions are met. Not a guaranteed form of payment unless endorsed 'Irrevocable'.
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12.07.2013 09:29 |
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Lessee
1) Person or firm who obtains the use of equipment or vehicle under a lease arrangement.
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12.07.2013 09:27 |
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Legislation
1) Law, usually in written form. Common term for Acts of Parliament, regulations, orders (ie Statutory Instruments), etc plus EC directives and regulations.
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12.07.2013 09:26 |
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Legal entity
1) A business organization that is given its own legal persona (ie separate to that of its owners) by being incorporated as a limited liability company (Ltd) - or a public limited company (pic) - under the Companies Acts. It can be prosecuted and sued as such.
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12.07.2013 09:24 |
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LEC
1) Local export control. Customs procedure for export declaration whereby goods are cleared at exporter/consignor premises. Requires prior Customs approval and is dependent on volume of traffic.
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