Moving Dictionary : P Terms

P Dictionary Terms

P (Abbr)

Performing.

Packed by Carrier (PBC or CP)

Atlas packs the goods at origin.

Packed by Owner (PBO)

The owner packs the goods at origin.

Packing (PKG)

Either the services or the material required to prepare a shipment for safe transportation and handling.

Packing Date

A date set aside for packing. It is usually one day prior to loading the goods.

Packing List

A detailed listing of all packed items in a shipment. It is often combined as one document form with the inventory.

Packing Service Report

A document that provides a record of special services performed like packing and appliance services.

Pads

Blanket-like padded material used for covering articles of furniture during a shipment.

Pallet

A portable platform for holding material for storage or transportation. Also called Skid.

Palletized

A term denoting that storage containers are stacked on pallets.

Parcel

1. A container, article or object wrapped or packed up.
2. A lot or a specific portion of a larger tract of land.

Party Wall

A wall erected between two adjacent properties for use by both properties.

Patent

A deed of title to land owned by the government and transferred to an individual.

Peak Season Rates

Linehaul rates applicable on all household goods shipments moving between May 15 and September 30.

Per Diem

1. Charges paid by one carrier for use of freight cars, trailers or containers of another carrier.
2. A daily expense allowance to a transferred employee for temporary living expenses.

Performance Report

Another term for the additional services performed at origin/destination and delivery report or the operation excellence questionnaire.

Perishable Articles

Items like frozen foods, fruits and plants that are liable to spoil or perish and cannot be transported by Atlas according to Department of Transportation rules.

Permanent Storage

The warehousing of a shipment indefinitely.

Permits

The federal authorization granted to a van operator to use a commercial vehicle.

Permit to Transfer

Containerized cargo may be moved from the place of discharge to a designated container station or such other location within the confines of the limits of the port of entry involved for the purposes of breaking bulk for customs entry and subsequent redelivery. It requires written authorization from the U.S. Customs Service. See Outside Examination.

Personal Property

Items included in a home that will not stay in the home when sold unless they are listed in the contract. Items that are moveable.

Personal Property Tax

A tax on personal property imposed by some states.

Physical Damage Insurance

Insurance to cover a tractor, trailer, van, etc., for fire, theft, combined additional coverage and collision.

Physical Deterioration

The physical depreciation of a structure that, in return, decreases its value. Physical deterioration can be either curable, where needed repairs are worth fixing, or incurable, where such repairs would be nonbeneficial compared to the value of the structure.

Piano Board

A device used primarily to move pianos up or down stairs.

Pick Up and Delivery Rates

Separate transportation rates applicable between the storage in transit warehouse and the residence or other establishment.

Piggyback Loan

One mortgage on a property with two lenders.

Piti

The total of the principle, interest, taxes and insurance that make up the all-inclusive monthly mortgage payments.

Plat

A drawing of a piece of land including lots, streets, etc.

Plat Book

A book of maps in a particular county for public record.

Plot Plan

A diagram of improvements of an area of ground.

Point

A one-time charge on a mortgage principal, paid when the mortgage is taken out. One point equals one percent.

Portability

An option that allows a borrower to take a current mortgage with him or her to another property.

Port of Debarkation

A place where the cargo is off-loaded from a conveyance like a vessel or aircraft for purposes of transhipment to another point or for making cargo available to the consignee as per the bill of lading.

Port of Discharge

See Port of Debarkation.

Port of Embarkation

A place where the cargo is loaded onto a conveyance like a vessel or aircraft to commence the voyage or flight for which the cargo has been booked.

Port of Entry

A place designated by the government at which a U.S. Customs Service officer is authorized to accept entries of goods, to collect duties, and to enforce the rules and regulations of the U.S. Customs Service. It is more commonly used to designate the place as described above at which the importing carrier makes the cargo available to the consignee as per the bill of lading, for the first time, as opposed to an intermediate port for transhipping only.

Port of Entry Rate

A rate for the handling of import shipments to the continental U.S. from free arrival of the cargo on the dock and available for customs clearance and/or pick-up at the U.S. Port of Entry through to delivery residence within the continental U.S. The rate excludes any wharfage or handling that may be assessed by the importing carrier; physical customs examination, if applicable; duties and/or taxes, if applicable; warehouse handling or storage; and any services not included within the definition of normal destination service.

Port of Exit

The point where cargo is loaded onto a conveyance like a vessel or aircraft for purpose of departing from the governmental jurisdiction of the origin country. May not necessarily be the same as the Port of Embarkation.

Port-to-Door

International service from arrival of the cargo at the pier of the origin port city (for surface shipments) or at the receiving dock of the origin airport city (for air shipments) through to delivery residence at the point of destination. This is exclusive of any packing, drayage, containerization or other such handling at the point of origin; any storage in transit; and any U.S. Customs Service duties, taxes, warehouse handling or other charge or services so specified on a one-time port-to-door rate quote. Destination services included within such rates will be based on normal services unless otherwise specified, and will include ocean freight and air freight between the ports involved, as opposed to rates quoted on port of entry rate basis.

Port-to-Port

International service from arrival of the cargo at the pier of the origin port city (for surface shipments) or at the receiving dock of the origin airport city (for air shipment) through to free arrival of the vessel or aircraft at the destination airport city. This is exclusive of any packing, drayage, containerization or other such handling at the point of origin; any charges whatsoever incurred once the vessel or aircraft has duly arrived at the city to which the cargo has been laden by the carrier; and any storage in transit, U.S. Customs Service duties, taxes, warehouse handling or other charges or services so excluded on a onetime port-to-port rate quote.

Possession Date

The date the buyer may take proprietorship of a property.

Power of Attorney

See Attorney-in-Fact.

PPD (Abbr)

Preplanned.

Pre-Approved Mortgage

Qualifies a buyer before he or she begins shopping for a home, so that the buyer will know an exact price range and make an offer upon finding the right home.

Preclosing

A meeting used to settle outstanding issues and where documents are prepared, reviewed and signed before the formal closing.

Pre-Existing Damage

Damage that already existed on an item before being shipped.

Preferred Arrival Date (PAD)

The date the customer requests for delivery of goods.

Prepaid Expenses

Escrow items like taxes and insurance, credit reports, photographs or fees that require payment at closing.

Prepaid Shipment

A shipment on which all or part of the transportation charges have been paid to Atlas prior to its arrival at destination.

Prepayment

A payment on a principal before its due date.

Prepayment Penalty

A charge to the borrower if the mortgage is paid off before required.

Prepayment Privilege

A borrower's voluntary right to pay all or part of a debt before its maturity.

Pricing Terms System

System designed to store terms from all pricing programs, discounts, type discount, rate dates, etc. The rating system pulls information found in this system by use of pricing identification.

Prime Fleet (PF)

An elite fleet of van operators who drive voluntarily under the direct control of Atlas dispatch. Specific qualifications for participation in this fleet are required.

Principal

The amount remaining on a mortgage, not including interest.

Principal Agent

A mover who has a regular and ongoing agreement to act as an agent for a household goods van line and performs a range of services like selling, packing and hauling in the name of the van line.

Principal Balance

A loan's outstanding balance.

Principle of Change

A principle that no economic or physical condition remains the same.

Principle of Conformity

A principle that buildings be similar in design, construction and age with regard to other buildings in the neighborhood.

Principle of Contribution

A principle that improvements to a property are worth only what the improvements add to the property's market value, not their actual cost.

Principle of Substitution

An appraisal theory that the market value of a property is influenced by the cost of purchasing a comparable property.

Private Mortgage Insurance (PMI)

Insurance by a private company to protect the mortgage investor against loss by default.

Promissory Note

See Note.

Pro Number

A number used to identify individual freight bills or bills of lading.

Property

Land and chattel in which an individual may have a right or interest.

Property Damage Claim

A claim filed for damage to a home, lawn, driveway or landscaping, caused by the van operator during the loading or unloading of a shipment or damage to property due to an accident.

Property Damage Insurance

Insurance to cover property damage.

Property Management Assistance

See Duplicate Housing Protection.

Property Taxes

Taxes imposed by the city, county or state government, determined by the size and location of a property.

Proration of Taxes

The balanced division of taxes between a buyer and a seller at closing.

Proviso

An old term for the classification of articles of a shipment. See First Proviso, Second Proviso and Third Proviso.

PU (Abbr)

Pick Up.

Purchase Agreement

A written agreement that states the seller's and the buyer's intentions, along with the terms of the sale. Also called Contract of Sale, Sales Contract and Agreement of Sale.

Purchase-Money Mortgage (PMM)

A mortgage given by the buyer to the seller for partial payment of a property.

Purchase Order

A written authorization for billing a move to a company. It is sometimes used in place of the order for service form.