STEAMSHIP CONFERENCE Definition

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STEAMSHIP CONFERENCE is an agreement between multiple shipping companies to provide common freight rates. Some shipping lines will state that they are 'non-conference', i.e., they charge an independent and likely lower rate.

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LAN is Local Area Network.

NET RECEIVABLES are a companys accounts receivable (money owed to the company) minus any provisions for bad debts. A firm with a sustainable competitive advantage shows a lower percentage net receivables to gross sales than their competitors, i.e. a firm with a sustainable competitive advantage need not be generous with credit.

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