Belly Cargo

Freight carried in the hold below the main (passenger) deck.

Belly Hold

Freight accommodation below the main deck.

Bermuda Agreement

An agreement concluded in 1946 between the UK and the US designed to regulate future international air traffic.  Most governments accept its principles and follow it inter alia by limiting traffic rights on international routes to one or two carriers.

Bilateral Rights

Agreements on traffic rights concluded between two governments.

Bloodstock

Pedigree Livestock.  Often race horses or cattle for breeding.

Breakpoint

Weight at which freight charges change. Eg: 100 kilos