loyalty contract
Defined in 1 place of the United States Code.
Loyalty contract.—The term “loyalty contract” means a contract with an ocean common carrier or agreement providing for—
(A) a shipper to obtain lower rates by committing all or a fixed portion of its cargo to that carrier or agreement; and
(B) a deferred rebate arrangement.
Source
- 2006–present46 U.S.C. § 40102Shipping · Definitions · in this part