Note 51 — BOOK II.
Reading edition
Commission is what is allowed by one merchant to another for buying or selling goods for him, and is usually a per-centage on the whole sum employed. Brokerage is an allowance similar to commission, under a different name, principally used in the buying and selling of stock in the funds.
Insurance is a per-centage paid to those who engage to make good to the payers any loss they may sustain by accidents from fire, or storms, according to the agreement, up to a certain amount which is named, and is a per-centage upon this amount. Tare, tret, and cloff, are allowances made in selling goods by wholesale, for the weight of the boxes or barrels which contain them, waste, &c.; and are usually either the price of a certain number of pounds of the goods for each box or barrel, or a certain allowance on each cwt.