![\"\"](\"https:\/\/www.slide2open.net\/wp-content\/uploads\/shippingfinance2018\/disruption-come-shipping\/img_3622-300x225.jpg\")
<\/p>\n<\/p>\n
by\u00a0Basil M. Karatzas,\u00a0<\/b>CEO, Karatzas Marine Advisors & Co.<\/p>\n
Only if I had a penny every time I had to spell out these terms to a financier dealing with commercial terms for the delivery of a vessel. It sounds almost like gibberish, but for those in the knowing, these are very clear terms and have saved many a shipowner or charterer from undue legal headaches. (For more shipping abbreviations,\u00a0please see our S&P blog here!)<\/a>These abbreviations are standard language and stand for\u00a0All Going Well \/ Weather Permitting \/ Unforeseen Circumstances All Exempted \/ With Out Guarantee.<\/strong>\u00a0They are the remnant of past reality, when Telex was the primary way of communicating commercial information in a time sensitive manner, and, text transmitted was charged by the number of the charterers consisting it. Really.<\/p>\n This was a time when people had to economize with their words due to technical and accordingly economic considerations. Had to be succinct since additional characters cost money; then, the telefax replaced the telex and transmitting was charged by the page, and eventually email has become the prominent way of transmitting information, which effective is free (besides a nominal monthly fixed cost for the connection). For those nostalgic of telex, Twitter had set a limit of 140 characters (now 280), but this was for other than economical considerations. And, the 280-character limit, Twitter does not stop someone for blabbing all they want; again for free.<\/p>\n