VAT (Value-Added Tax): A sales or consumption tax which the end user pays. Typically, this is a "hidden" tax, added to the list price of the goods in question.

Valuation Charges: Transportation charges assessed shippers who declare a value of goods higher than value of carrier's' 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, calculated by multiplying the length times the width times the height and dividing by 166..