| J-Bar: | Large shipper's tool in the shape of a "J" that allows leverage to be used when lifting a corner of a heavy package. |
| Laches: | An unreasonable delay that makes it inequitable to give the relief sought by a party in court. |
| Lacquer: | (1) Any varnish coating particularly those found on metal; (2) a solution of cellulose nitrate that dries to form a film; (a) urushi, or oriental lacquer |
| Load line: | The line that bears the weight of a lift. |
| Loan agreement: | A contract between a lender and a borrower of an object or objects, specifying the object(s) and outlining the conditions of loan and the respective responsibilities of each party. |
| Loss limit: | The maximum amount an insurance policy will pay for a single loss. |