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Wholesale & Liquidation Glossary
Learn the most important wholesale, liquidation, retail, logistics, and inventory terms used by resellers, importers, exporters, and wholesale buyers.
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A
A-Stock
First-quality, brand-new merchandise in its original packaging—equivalent to what sells on a retail shelf. The highest grade of liquidation inventory.
As-Is / Damaged
Merchandise sold in its current condition, which may include cosmetic or functional defects. Priced accordingly and best inspected before buying.
B
B-Stock
Merchandise that isn’t first-quality A-stock—customer returns, open-box, or lightly handled items—often sold by the pallet at a lower cost. See our B-Stock inventory.
Bin Store
A retail store that sells liquidation merchandise from open bins at flat prices that drop through the week. A popular resale channel for pallet buyers.
Broker
A middleman who resells liquidation loads they don’t physically own or handle. Orotex is not a broker—every pallet is on-site in our Miami warehouse and available to inspect.
Bill of Lading (BOL)
The official shipping document issued by a carrier. It identifies the freight, origin, destination, and shipping terms, and serves as both a receipt and transportation contract.
C
Case Pack
The number of units a product ships in per case, straight from the manufacturer. Case-pack goods are typically new and uniform.
Closeouts
Discontinued or end-of-line products a retailer clears out to make room for new inventory. Usually new condition. Browse Closeouts.
Cost Percentage
What you pay for a load expressed as a percentage of its total retail value. A lower percentage means a bigger potential margin.
Customer Returns
Items shoppers returned to a store. Condition ranges from unused to used—a core component of many liquidation pallets.
D
Defective
Merchandise that has been tested and found non-functional, incomplete, or affected by visible defects or quality-control issues.
Direct Shipment
Merchandise shipped directly from the supplier or warehouse to the buyer without being transferred through an additional distribution point.
Double-Stacked
A freight arrangement in which one pallet is stacked on top of another to use trailer or container space more efficiently, when the merchandise can support it safely.
Drop Shipping
A fulfillment method in which a retailer sells an item without stocking it and a third party ships the product directly to the final customer.
E
Ex-Works (EXW)
A shipping term where the buyer takes ownership at the seller’s warehouse and arranges all freight from there. Common for export buyers.
Exporter
A buyer who purchases U.S. merchandise to resell in international markets, often through a freight forwarder.
Extended Retail
The combined retail value of every item in a load, added up. Used to gauge a load’s worth against its cost.
F
FTL (Full Truckload)
A shipment that fills an entire truck, sold as one large lot. The most cost-efficient way to move high volume. See Truckloads.
Freight Forwarder
A company that coordinates shipping and export logistics on the buyer’s behalf, especially for international orders.
FOB (Free on Board)
A shipping term used to identify the point where responsibility, risk, and certain transportation costs transfer from the seller to the buyer.
G
Gaylord
A large bulk container—bigger than a standard carton box—used to ship loose or mixed merchandise, often customer returns.
H
Hand-Stacked
Merchandise loaded manually into a truck or container without pallets, allowing more units to fit but requiring additional labor to load and unload.
Hash Load
A highly assorted liquidation load containing small quantities—often one or two units—of many different products or styles.
HBA (Health & Beauty Aids)
An inventory category that includes personal-care, beauty, hygiene, and related health products.
L
Liquidation
The process of selling excess, returned, or discontinued retail merchandise in bulk, below wholesale, to recover value quickly.
LTL (Less-Than-Truckload)
A freight method for shipments smaller than a full truck—ideal for one or a few pallets.
LCL (Less than Container Load)
An ocean-freight shipment that uses only part of a shipping container, with space shared among multiple shippers.
Liftgate Service
A freight service that uses a hydraulic platform to lower pallets from a truck to ground level at locations without a loading dock.
M
Made for the U.S. Market
Merchandise originally developed for sale through the U.S. retail market, reflecting that market’s product specifications, presentation, labeling, and consumer expectations.
Read the complete guide →
Manifest
An itemized list of everything in a pallet or truckload, including quantities and retail values.
Manifested Load
A load that comes with a manifest, so you know exactly what’s inside before you buy. Lower risk, usually higher cost.
Mixed Lot
A pallet or lot that combines products from multiple categories rather than a single type of merchandise. See General Merchandise.
MSRP
Manufacturer’s Suggested Retail Price—the price a brand recommends for an item at retail, used as a benchmark for value.
Master Case
A manufacturer-sealed outer case containing multiple units or inner packs. Merchandise in a master case is generally new and has not been displayed for retail sale.
O
Overstock
Brand-new, unsold inventory a retailer has too much of. Usually in original packaging and one of the most desirable liquidation categories.
P
Pallet
A standard unit of bulk merchandise stacked and shrink-wrapped on a wooden base. The most common way to buy liquidation inventory. Shop Liquidation Pallets.
Pre-Worn
Clothing, footwear, or accessories that were previously used or worn and may no longer include original retail tags or packaging.
Private Label / Store Brand
Merchandise sold under a retailer’s own brand or an exclusive store label rather than a nationally distributed brand.
R
Recovery Rate
The percentage of an item’s original value a seller recoups through liquidation. Helps buyers and sellers gauge a deal.
Refurbished
Returned or defective items that have been repaired and restored to working condition, then re-tested for resale.
Reseller
Anyone who buys liquidation merchandise to resell for profit—online sellers, discount stores, flea-market vendors, and exporters.
S
Salvage
The lowest grade of merchandise—heavily damaged, incomplete, or non-working goods—sold cheaply for parts or scrap value.
Shelf Pulls
Items removed from store shelves—often overstock or seasonal—that are new or nearly new but no longer displayed.
Seasonal Goods
Merchandise intended for a specific season, holiday, or selling period, such as Christmas, Halloween, summer, or back-to-school inventory.
Skid
A platform similar to a pallet but typically built without a bottom deck, often used to support and transport heavy equipment or specialized freight.
T
Truckload
A full truck of merchandise sold as a single bulk purchase, typically dozens of pallets. See Truckloads.
Tested Working
Merchandise that has been inspected or tested and confirmed to function at the time of testing, although packaging, accessories, or cosmetic condition may vary.
U
Unmanifested Load
A pallet or truckload sold without an itemized list of contents. Lower price, higher risk—which is why we let you inspect before you buy.
W
Wholesale
Buying goods in bulk at a discounted price for resale, rather than as a single retail customer.
Why understanding liquidation terminology matters
Understanding liquidation terminology helps wholesale buyers compare inventory more accurately, communicate clearly with suppliers, and avoid expensive misunderstandings. A load described as overstock is not the same as customer returns, and a manifested truckload carries different risks than an unmanifested one. Shipping terms such as EXW, LTL, and FTL also affect the true cost of a purchase.
This glossary provides clear, practical definitions for the language used throughout wholesale liquidation, retail inventory, freight, importing, exporting, and resale. Some major topics include links to complete Orotex guides, while shorter terms remain available here as a fast reference.
Ready to put these terms to work?
Continue learning through our buyer resources, browse current inventory, or contact our Miami warehouse team for availability.